Phosphagenics Appoints Neura Therapeutik as US Strategic Commercial Advisors
MELBOURNE, Australia, Aug. 1, 2012 /PRNewswire-Asia/ -- Australian drug delivery technology company Phosphagenics Limited (ASX: POH, OTCQX: PPGNY) has appointed US pharmaceutical consulting company, Neura Group LLC, the consulting unit of the pain specialty company, Neura Therapeutik LLC, to provide strategic commercial and development advice for its TPM/oxycodone patch development program.
The pain specialty company, established by former Johnson & Johnson, Pfizer and King Pharmaceuticals executives in 2010, has extensive experience in the commercialisation and development of analgesics, primarily in the non-steroidal anti-inflammatory drug (NSAID) and opioid classes of the pain market.
Members of Neura's management team have launched some of the largest US analgesic brands, including the first transdermal pain patch, Duragesic® and Vicodin ES® tablets, as well as directing pain franchise build outs for pharmaceutical companies.
The appointment will enable Phosphagenics' access to substantial development, clinical and commercial expertise in the field of pain management.
Phosphagenics CEO, Dr Esra Ogru, said the strategic partnership would assist with development, approval, partnering and marketing processes. The companies would collaborate to ensure all appropriate commercial parameters were considered in the design of the pivotal Phase 3 program.
"We remain committed and focused on the commercialisation of our TPM/oxycodone patch," Dr Ogru said.
"We are confident this partnership will ensure success at these crucial final stages. Together with our existing Pain Advisory Board, we believe the appointment of Neura will ensure the development of a commercially relevant product as we prepare a high quality package for the FDA."
Dr Ogru acknowledged Neura's ability to leverage its expertise in the analgesic market and build strong working alliances with strategic