FREMONT, Calif., Aug. 18, 2020 (GLOBE NEWSWIRE) -- Zosano Pharma Corporation (NASDAQ:ZSAN), a clinical-stage biopharmaceutical company, today announced that it has entered into a feasibility study agreement with Mitsubishi Tanabe Pharma Corporation, a global pharmaceutical company that develops and commercializes innovative therapies for patients addressing unmet medical needs, centered on its priority disease areas — autoimmune diseases, diabetes and kidney diseases, central nervous system diseases, and vaccines.
“Our agreement with Mitsubishi Tanabe Pharma Corporation allows us to combine our proprietary transdermal microneedle drug delivery platform with Mitsubishi Tanabe Pharma Corporation’s drug development candidate,” said Steven Lo, President and CEO of Zosano. “We expect through this partnership, to demonstrate the broad applicability of our platform for making a difference in the lives of patients when combined with pharmaceutical products that address significant unmet medical needs.”
Under the agreement, Zosano will evaluate the feasibility of formulating a pharmaceutical agent being developed by Mitsubishi Tanabe Pharma Corporation for administration in humans, with its proprietary microneedle patch system. Defined research and development activities will include both in vitro and in vivo phases. Mitsubishi Tanabe Pharma Corporation receives the right to exercise an option to negotiate an exclusive license to the relevant Zosano technologies in the defined field, which exercise will be dependent on the outcome of the studies. Financial terms and the identity of the Mitsubishi Tanabe Pharma Corporation molecule and development program are not disclosed.
About Zosano Pharma
Zosano Pharma Corporation is a clinical-stage biopharmaceutical company focused on developing products where rapid administration of approved molecules with established safety and efficacy profiles may provide substantial benefit to patients, in markets where patients remain underserved by existing therapies. The company’s transdermal microneedle system technology consists of titanium microneedles coated with drug that are designed to enable rapid systemic administration of therapeutics to patients. Zosano’s lead product candidate is Qtrypta™ (M207), which is a proprietary formulation of zolmitriptan delivered via its transdermal microneedle system technology, as an acute treatment for migraine. The company anticipates that many of its current and future development programs may enable the company to utilize a regulatory pathway that has the potential to streamline clinical development and accelerate the path towards commercialization. Learn more at www.zosanopharma.com.
This press release contains forward-looking statements regarding the feasibility study agreement with Mitsubishi Tanabe Pharma Corporation, our goals and expectations with respect to the feasibility study agreement and other future events and expectations described in this press release. Readers are urged to consider statements that include the words "may," "will," "would," "could," "should," "might," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," "unaudited," "approximately" or the negative of those words or other comparable words to be uncertain and forward-looking. These statements are subject to risks and uncertainties that are difficult to predict, and actual outcomes may differ materially. These include risks and uncertainties, without limitation, associated with the Zosano’s ability to obtain additional cash resources to continue operations for the remainder of 2020, the process of discovering, developing and commercializing products that are safe and effective for use as human therapeutics, risks inherent in the effort to build a business around such products and other risks and uncertainties described under the heading "Risk Factors" in the Zosano's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. Although Zosano believes that the expectations reflected in these forward-looking statements are reasonable, Zosano cannot in any way guarantee that the future results, level of activity, performance or events and circumstances reflected in forward-looking statements will be achieved or occur. All forward-looking statements are based on information currently available to Zosano and Zosano assumes no obligation to update any such forward-looking statements.
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Source: Zosano Pharma Corporation