RESEARCH TRIANGLE PARK, N.C., Aug. 5 /PRNewswire/ -- Addrenex Pharmaceuticals, a specialty pharmaceutical company dedicated to developing treatments to regulate the adrenergic system, announced today an exclusive partnership with Dream Pharma. In keeping with its long-range plan to advance the treatment of adrenergic-related conditions throughout the world, Addrenex has licensed the right to manufacture, market and sell its lead product, Clonicel, in Korea to Dream Pharma. Dream Pharma is a Division of the Hanwha Group, one of the top 10 business conglomerates in Korea.
Clonicel is being developed for both the treatment of hypertension and attention deficit hyperactivity disorder. Clonicel is a patented extended-release formulation of clonidine hydrochloride, a drug currently approved for hypertension.
"We are very excited to partner with Dream Pharma to bring this important treatment to children struggling with ADHD in Korea," said Steve Butts, Vice President, Commercial Operations at Addrenex Pharmaceuticals. "This agreement is another important milestone for Addrenex as we continue to expand our business activities globally."
This partnership agreement coincides with the 3rd anniversary of the founding of Addrenex. In just three short years, the company has signed several licensing deals with major pharmaceutical companies, advanced four products to various stages of clinical trials and acquired an extensive pipeline of compounds primed for future development. Moving forward, the company will continue to focus on developing treatments for the origin of a wide range of conditions regulated by the adrenergic system. These conditions range from menopausal flushing to insomnia to pain. Currently, these conditions are being managed symptomatically rather than addressing the root cause.
"It is exciting to see so much progress in such a short period of time. We have grown from a company with a single product to one with a strong portfolio of products, have already filed our first NDA and are preparing to file a second. We have also entered into several global partnerships," said Moise Khayrallah, Ph.D., cofounder and CEO of Addrenex. "We know this partnership with Dream Pharma will serve to contribute to our ongoing growth and success while benefiting a great number of patients."
About Addrenex Pharmaceuticals, Inc.
Addrenex Pharmaceuticals is a focused, specialty pharmaceutical company that develops and commercializes drugs to treat adrenergic dysregulation. Addrenex Pharmaceuticals is based in Durham, N.C., on the edge of Research Triangle Park. The company's mission is to explore the impact that neurotransmitter regulation has on a variety of diseases and disorders. Addrenex identified adrenergic regulation as its initial research focus. Adrenergic dysregulation is implicated in medical conditions such as hypertension, ADHD, migraine and post-menopausal symptoms.
In addition to its partnered programs, Clonicel (hypertension and ADHD) and ADX-415 (hypertension and menopausal flushing), Addrenex has two proprietary products in clinical development, ADX-N05 for the treatment of narcolepsy and ADX-117 for procedural sedation. For more information, visit www.addrenex.com
|SOURCE Addrenex Pharmaceuticals, Inc.|
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