News and Announcements
Aytu BioScience is given exclusive licensing rights to ZolpiMist in North America
- Published June 23, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Magna Pharmaceutical’s ZolpiMist is giving exclusive selling rights to Aytu BioScience in the North American Markets.
- Sleep Aids in the US account for a $1.8 billion market.
- SUDA Pharmaceuticals retains licensing rights to rest of world.
- ZolpiMist addresses the short-term treatment of insomnia patients.
Magna Pharmaceuticals Inc. has exclusively licensed their product, ZolpiMist, in the USA and Canada. ZolpiMist is an oral spray form of zolpidem tartrate, used for the short-term treatment of insomnia. SUDA Pharmaceutical, a drug delivering company, focused on oro-mucosal administration and located in Western Australia, has the exclusive global license to ZolpiMist, excluding, the USA and Canada.
Insomnia is the most common sleep disorders, with prescriptions for sleep aids in the US at $1.8 billion from February 2017 to February 2018. ZolpiMist is FDA-approved and offers an alternative with rapid absorption of the drug through the oral mucosa. SUDA Pharmaceuticals has announced that licensing for ZolpiMist in the USA and Canada is going to Aytu BioScience, Inc. Aytu is a pharmaceutical company focused on commercialisation of novel products addressing significant medical needs.
By having Aytu license ZolpiMist in the USA and Canada, SUDA has a more secure chance of partnering and commercialising the product in the rest of the world. Aytu hopes to generate revenue and complement their successful company portfolio.
About SUDA Pharmaceuticals (ASX: SUD)
SUDA Pharmaceuticals Ltd (ASX: SUD) is a drug delivery company focused on oro-mucosal administration, headquartered in Perth, Western Australia.
Company Updates
From Desert to Dairy: How Australia’s Wild Camels and Good Earth Dairy’s Technology are Transforming Infant Formula
“In the heart of Australia’s outback, an innovative dairy company is harnessing the world’s largest wild camel population to revolutionise infant nutrition, targeting the rapidly growing AUD $127B global infant formula market with hypoallergenic solutions.
World-First FDA Approval for EBR Systems’ Leadless Cardiac Device Opens US$3.6bn Market
Discover how EBR Systems’ groundbreaking WISE CRT System, the first leadless left ventricular pacing technology, has gained FDA approval, addressing limitations of traditional cardiac resynchronisation therapy.
Half a Century in Bricks and Mortar: Industry Veteran Greg Paramor on Revealing Real Estate Opportunities in a Shifting Landscape
Veteran real estate leader Greg Paramor offers a grounded perspective on the Australian property market, highlighting the chronic undersupply and emerging opportunities for investors despite current economic headwinds.
Backed By Leading Investment Groups and Family Offices
