NEMUS Bioscience, Inc. Signs Agreement With Albany Molecular Research Inc. (AMRI) to Manufacture Cannabinoid-Based Active Pharmaceutical Ingredients
COSTA MESA, CA and ALBANY, NY -- (Marketwired) -- 02/08/16 -- NEMUS Bioscience, Inc. (OTCQB: NMUS), a biopharmaceutical company focused on the discovery, development, and commercialization of cannabinoid-based therapeutics for significant unmet medical needs, today announced an agreement with Albany Molecular Research Inc. (NASDAQ: AMRI) for the development and manufacture of NEMUS' proprietary cannabinoid-based active pharmaceutical ingredients. The agreement will capitalize on AMRI's process chemistry expertise in the synthesis and formulation of NEMUS' proprietary prodrug of tetrahydrocannabinol (THC). This molecule forms the basis of NB1111, NEMUS' compound in development for the treatment of glaucoma, and NB1222, for the management of chemotherapy-induced nausea and vomiting (CINV).
"Advancing our lead therapeutic candidates into the manufacturing stage is a major milestone for our company," commented Brian Murphy, M.D., CEO-CMO of NEMUS. "This permits us to move from testing prototypic formulations to having the ability to accumulate API-based data in pre-clinical and clinical studies, which is pivotal for submission to regulatory agencies."
"AMRI looks forward to working with NEMUS to bring this new class of cannabinoid-based therapies through the developmental process," said Christopher Conway, Senior Vice President of Discovery and Development Services at AMRI. "AMRI will focus on manufacturing synthetic versions of NEMUS' proprietary prodrug of THC at our U.S. Drug Enforcement Administration (DEA) approved facilities."
Dr. Murphy concluded: "Eye disease and the oncologic-related palliative care markets are in need of new classes of compounds to benefit patients. There is a significant need for better treatments for patients suffering from a variety of diseases including adverse events related to their cancer care. We are excited to collaborate with a highly-experienced manufacturer like AMRI, to bring new medications such as cannabinoid-based therapeutics, to these areas of significant unmet medical need."
ABOUT NEMUS BIOSCIENCE, INC.
The Company is a biopharmaceutical company, headquartered in Costa Mesa, California, focused on the discovery, development, and commercialization of cannabinoid-based therapeutics for significant unmet medical needs in global markets. Utilizing certain proprietary technology licensed from the University of Mississippi, NEMUS is working to develop novel ways to deliver cannabinoid-based drugs for specific indications, with the aim of optimizing the clinical effects of such drugs, while limiting the potential adverse events. NEMUS' strategy will explore the use of natural and synthetic compounds, alone or in combination. The Company is led by a highly qualified team of executives with decades of biopharmaceutical experience and significant background in early-stage drug development.
For more information, visit http://www.nemusbioscience.com.
ABOUT ALBANY MOLECULAR RESEARCH INC. (AMRI)
Albany Molecular Research Inc. (AMRI) is a global contract research and manufacturing organization that has been working with the Life Sciences industry to improve patient outcomes and the quality of life for more than two decades. With locations in North America, Europe and Asia, our key business segments include Discovery and Development Services (DDS), Active Pharmaceutical Ingredients (API), and Drug Product Manufacturing (DPM). Our DDS segment provides comprehensive services from hit identification to IND, including expertise with diverse chemistry, library design and synthesis, in vitro biology and pharmacology, drug metabolism and pharmacokinetics, as well as natural products. API supports the chemical development and cGMP manufacture of complex API, including potent, controlled substances, steroids, hormones, cytotoxic compounds and sterile API. DPM supports development through commercial scale production of complex liquid-filled and lyophilized parenterals, sterile suspensions and ophthalmic formulations. For more information, visit http://www.amriglobal.com.
NEMUS FORWARD LOOKING STATEMENTS
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties, including statements about the potential benefits of cannabinoid-based medicine and the timing of our near term, intermediate term and long term goals. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. In some cases, forward-looking statements can be identified by terminology including "goal," "focus," "aims," "believes," "can," "challenge," "predictable" "will," or the negative of these terms or other comparable terminology. We operate in a rapidly changing environment and new risks emerge from time to time. As a result, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. Risks and uncertainties that may cause actual results to differ materially include, among others, uncertainty regarding the results of future testing and development efforts and other risks that are described in the Risk Factors section of NEMUS' most recent annual or quarterly report filed with the Securities and Exchange Commission. Except as expressly required by law, NEMUS disclaims any intent or obligation to update these forward-looking statements.
AMRI FORWARD LOOKING STATEMENTS
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Readers should not place undue reliance on these forward-looking statements. AMRI's results may differ materially from such forward-looking statements as a result of numerous factors, some of which AMRI may not be able to predict and may not be within AMRI's control. Factors that could cause such differences include, but are not limited to: (a) problems or delays which may arise during clinical trials or in the course of developing or manufacturing NEMUS' proprietary prodrug of THC that could lead NEMUS to discontinue development; (b) information or drug candidates that appear promising to NEMUS cannot be shown to be efficacious or safe in subsequent preclinical or clinical trials; (c) delay or denial of appropriate or necessary governmental or regulatory approvals to market NB1111, NB1222 or other potential products incorporating NEMUS' proprietary prodrug of THC; (d) the potential inability to obtain or maintain the appropriate regulatory licenses or registrations with respect to cannabis or THC materials; and those factors discussed in AMRI's Annual Report on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission on March 16, 2015, and AMRI's other SEC filings.
CONTACT FOR NEMUS BIOSCIENCE, INC.:
PCG Advisory Group
Investor Relations
Adam Holdsworth
Email: adamh@pcgadvisory.com
Phone: 646-862-4607
Media Relations
Sean Leous
Email: sleous@pcgadvisory.com
Phone: 646-863-8998
CONTACTS FOR AMRI
Investor Relations
Patty Eisenhaur
Email: patty.eisenhaur@amriglobal.com
Phone: 518-512-2261
Media Relations:
Gina Rothe
Email: gina.rothe@amriglobal.com
Phone: 518-512-2512
Source: NEMUS Bioscience, Inc.
Released February 8, 2016