Sosei Assigns AD 923 Assets to Pharmasol

TOKYO , Oct. 6 /CNW/ - Sosei Group Corporation ("Sosei"; TSE Mothers Index: 4565), the biopharmaceutical company, today announced that Sosei R&D Ltd., its wholly owned UK subsidiary, has entered into an agreement to assign its rights to the assets of AD 923, an optimised, sublingual formulation of the opioid analgesic fentanyl for the treatment of cancer breakthrough pain, as well as to the device for drug administration to Pharmasol R&D Ltd. ("Pharmasol"), a privately held UK company.

The AD 923 development programme had previously entered Phase III clinical trials in Europe . However, due to the changes in regulatory environment, restructuring of Sosei R&D business operation, the programme had been halted.

Based on the present agreement Sosei R&D will receive payments from Pharmasol based on revenues arising from the commercialization of these assigned assets.

    
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    About Sosei
    

Sosei Group is a leading international biopharmaceutical company with significant expertise in product discovery and development. It has established a reduced risk business model primarily upon identifying new uses for established drugs and exploiting its unique position within Japanese, European and North American pharmaceutical markets by acquiring compounds from, and bringing compounds into, Japan .

For further information about Sosei, please visit http://www.sosei.com

About Pharmasol

Pharmasol Corporation engages in the contract manufacturing, packaging, and warehousing of aerosols, liquids, gels, and lotions for the health care and cosmetics industries. It also offers consultancy services, including research and development, purchasing, and marketing.

For further information about Pharmasol, please visit http://www.pharmasol.co.uk

For further information: Sosei Group Corporation: Kojimachi Tsuruya Hachiman Bldg. 5F, 2-4 Kojimachi, Chiyoda-ku, Tokyo 102-0083 Japan, Hidetoshi Torami, E-mail: [email protected], Tel: [phone], Fax: [phone]; Sosei R&D Ltd: 1F London BioScience Innovation Centre, 2 Royal College Street, London, NW1 0NH, Dr Michael Murray, Managing Director, E-mail: [email protected], Tel: [phone], Fax: [phone]