- Licensing agreement with Ingenew Pharmaceuticals Inc. to explore delivery of therapeutics
- Ingenew to fund new R&D related activities
- Ortho's focus to remain on all orthopedic indications
MONTREAL, May 20, 2020 /CNW Telbec/ - Ortho Regenerative Technologies Inc. (CSE: ORTH) ("Ortho RTI" or the "Company"), an emerging orthobiologics company, today announced that it has entered into a strategic and licensing agreement (the "Agreement") with Ingenew Pharmaceuticals Inc. ("Ingenew"). The Agreement will explore the expansion of the scope of Ortho's proprietary technological platform applications to include the delivery of therapeutics.
Under the Agreement, Ingenew will fund the research and development activities looking to specifically further advance Ortho RTI's proprietary technology platform as a delivery system for its proprietary therapeutics. Ingenew plans to integrate Ortho RTI's platform in its ongoing various oncology, urology and periodontal diseases programs, which are the main therapeutic areas that are exclusive to Ingenew under the Agreement. Ortho RTI is entitled to royalties on sales of products and on licensing revenues integrating Ingenew therapeutics agents and Ortho RTI's proprietary delivery platform. Ortho RTI will also benefit from a fully paid up grant back license from Ingenew to access all improvements to its proprietary technology platform for orthopedic applications. Other therapeutic fields can be targeted leveraging the further advanced Ortho RTI platform developed by either party or in collaboration.
"This agreement further validates the value and the scope of potential applications that can be derived from using our proprietary technological platform", said Claude LeDuc, President and Chief Executive Officer of Ortho RTI. "The addition of therapeutic delivery applications is just one of the avenues we are currently investigating to maximize the value we can generate from our technology. It will also serve to offset some of our ongoing costs as we remain dedicated to the development of our core orthopedic interests. It is part of our business plan to explore such opportunities to create additional value for all our shareholders".
Mr. Pierre Laurin, President and Chief Executive Officer of Ingenew, commented: "We are very impressed by the performance of Ortho's platform technology as it gets ready to initiate its clinical program. It sets the stage for this unique win-win strategic collaboration where Ingenew gets to further advance Ortho's technology by developing state-of-the-art and optimized delivery systems for its own therapeutics, which in turn can be leveraged by Ortho for its orthopedic program and for additional applications. As more applications are successfully developed and commercialized, more value is created for all parties involved".
About Ingenew Pharmaceuticals Inc.
Ingenew Pharma is a biopharmaceutical company focused on addressing unmet medical needs and serving patients and families affected by serious and debilitating illness. Its primary therapeutic areas of interest include oncology, neurology, urology and dermatology. Ingenew's current research and development efforts are evaluating proprietary preparations and delivery systems designed to improve the clinical efficacy and reduce toxicity and side effects associated with standard of care. At Ingenew Pharma, we leverage the extensive and successful track record of our scientists and apply adaptive-creative research & development principles to advance tangible and affordable medical solutions. Ingenew Pharma's website further describing its corporate mission and activities is expected to come online in June. ( www.ingenewpharma.com )
About Ortho Regenerative Technologies Inc.
Ortho RTI is an emerging orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries. Our proprietary RESTORE technology platform, is a muco-adhesive CHITOSAN based biopolymer matrix, specifically designed to deliver biologics such as Platelet-Rich Plasma (PRP) or Bone Marrow Aspirate Concentrate (BMAC), to augment and guide the regeneration of new tissue in various musculoskeletal conditions. Ortho-R, our lead Chitosan-PRP hybrid biologic implant product, is formulated and designed to increase the healing rates of occupational and sports related injuries to tendons, meniscus and ligaments. Other formulations are being developed for cartilage repair, bone void filling and osteoarthritis treatment. The ChitosanPRP combination ORTHO-R implant can be directly applied into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. An Ortho-R Rotator Cuff Tear Repair US pilot clinical trial is being prepared and coordinated. Parallelly, an IDE FDA submission is planned for Q2 2020. Considering the significant potential of our technology platform, Ortho RTI continues to assess new therapeutic target uses outside of the soft tissue repair field. Further information about Ortho RTI is available on the Company's website at www.orthorti.com and on SEDAR at www.sedar.com. Also follow us on LinkedIn and Twitter.
This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
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SOURCE Ortho Regenerative Technologies Inc.
For further information: Claude LeDuc, President and Chief Executive Officer, (514) 693-8804, [email protected] or Frederic Dumais, Director Communications and Investor Relations, (514) 782-8803, [email protected]