The patent portfolio includes a number of novel chemical entities from Nectid’s Pain Drug Discovery program and two key drug delivery platforms.
Nectid president and CEO Veena Rao said they are very happy with this patent sale transaction with Grunenthal.
"This is the second patent deal Nectid has completed in the last 12 months and the patents are among the nineteen of our patents that have been acquired by big pharmaceutical companies in the last two years," Rao said.
"We have accumulated a portfolio of 110 NCEs for pain and depression and we expect to file an IND for at least one drug candidate within the next 6-9 months."