Tel Aviv, Israel, December 6, 2016
Neurim Pharmaceuticals (“Neurim”) announced today that it has signed a license agreement with Kuhnil Pharmaceutical (“Kuhnil”). The agreement grants Kuhnil exclusive marketing rights to market Neurim’s new Rx PedPRM in South Korea.
This is Neurim’s second marketing agreement for the new drug, following November’s announcement on a signed agreement with Aspen Australia to market PedPRM in Australia and New Zealand. Neurim’s age-appropriate drug is targeted to treat sleep disorders in children with autism spectrum disorders (ASD) and neurogenetic diseases. It is expected to be the first sleep drug approved for children.
Kuhnil has been successfully marketing Neurim’s Circadin®, prolonged-release melatonin 2mg indicated to treat primary insomnia in the elderly, since 2014 in South Korea. “We are pleased to deepen our collaboration with Kuhnil. Neurim strongly believes this agreement will make the newly developed drug accessible to children who severely suffer from sleep disorders.” Said Sharon Elkobi, VP Business Development of Neurim Pharmaceuticals. “Our team strives to expand the drug’s global availability to make it accessible for children and their families. We are working tirelessly to achieve this goal”.
PedPRM is a response to an unmet clinical need in the field of paediatric insomnia, specifically developed to address main concerns in children with ASD and neurogenetic diseases. PedPRM is an age-appropriate formulation designed for populations with swallowing difficulties.
PedPRM has recently completed a Phase III study, under EU-PIP and US-FDA IND, showing positive top-line results. The drug met the primary efficacy endpoint demonstrating statistically significant improvement in total sleep time (TST) compared to placebo. Secondary efficacy endpoints demonstrating improvements in sleep initiation and maintenance were met as well.
About Neurim Pharmaceuticals
Neurim Pharmaceuticals Ltd. is a neuroscience drug discovery and development company. Its first approved drug Circadin® is commercially available in Europe, Asia-Pacific, Latin America, Africa and the Middle East.
The company has a strong and innovative product pipeline intended for insomnia, Alzheimer’s disease, dementia, glaucoma and pain.