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news.Tris Pharma has earned first milestone payment for achieving proof-of-concept (POC) for the first compound, CCP-01, under collaboration with Vernalis.
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Under the US prescription cough/cold collaboration, POC had to complete various activities including human pilot comparative study against an immediate release reference product.
Tris Pharma president and CEO Ketan Mehta said, "Our propriety OralXR+ technology is ideally suited to bring long-lasting relief to U.S. cough and cold sufferers, which our research has identified as a significant unmet need."
Tris anticipates filing a new drug application for CCP-01 with FDA in 2014.
Vernalis CEO Ian Garland said, "We are delighted with this early success in our collaboration with Tris and look forward to a productive 2013 when we anticipate further significant progress for our cough/cold pipeline."
The financial details of the deal signed between the companies in February 2012, have not been revealed.