- Claritas Pharmaceuticals, Inc. (CLAS) has entered a License Amendment with Salzman Group Inc., and its subsidiaries
- The Salzman Group have granted Claritas an exclusive, worldwide license to develop and commercialize R-107
- R-107 is a treatment for pulmonary diseases like PAH and PPHN
- Claritas initially licensed R-107 from the Salzman Group for the treatment of COVID-19 and other viral infections
- Claritas Pharmaceuticals, Inc. (CLAS) is up 10 per cent trading at $0.17 per share as of 3:59 p.m. EST
Claritas Pharmaceuticals (CLAS) has entered a License Amendment with Salzman Group Inc., and its subsidiaries.
The Salzman Group has granted Claritas an exclusive, worldwide license to develop and commercialize R-107.
R-107, a treatment for pulmonary diseases like PAH and PPHN, is a liquid, nitric oxide-releasing compound with issued and pending patents. Claritas initially licensed R-107 from the Salzman Group for the treatment of COVID-19 and other viral infections.
R-107 was evaluated in a validated animal model of PAH.
The data from this study are unprecedented in the scientific literature and suggest it is a potentially revolutionary new treatment for PAH.
Formal FDA-mandated toxicology and safety pharmacology studies of R-107 have demonstrated to date that the drug is extremely well-tolerated.
Claritas expects to complete the Phase 1 clinical study of R-107 in Q1 2022, and the completion of a small Phase 2a clinical study of hospitalized patients later in the year.
Claritas will issue 1.2 million shares of Claritas’ common stock to Salzman Group Pty. Ltd.
Claritas has paid cash license fees of USD $12,300 to Salzman Group Pty. Ltd. and USD $287,700 to Salzman Group Ltd.
Claritas will also pay the following cash milestone payments and royalties on net sales to the Salzman Group.
During the applicable term of any patent covering R-107 in the treatment of PAH, Claritas will pay a royalty of eight percent of the net sales.
Claritas Pharmaceuticals, Inc. (CLAS) is up 10 per cent trading at $0.17 per share as of 3:59 p.m. EST.
