Esteve, Mundipharma and Purdue announce global alliance to promote innovation in pain management
<p>This agreement could bring Esteve more than $1,000 millions from Mundipharma and Purdue</p>
Esteve laboratories will receive a great financial and operational injection of capital. The company has signed a global alliance with pharmaceutical corporation Mundipharma#mce_temp_url# and the associated independent company Purdue Pharmaceuticals LP, which could bring more than $1,000 millions to the Catalan laboratories.
The alliance is kicking off with global development of a new generation of drugs for pain management, taking advantage of the different individual strengths of each company.
This agreement includes three research projects Esteve has begun on its own, which will require huge financial investment once they move into the decisive pre-market clinical-trial phase.
One of the most innovative research projects covered under this alliance is E-52862, a novel first-in-class chemical compound addressing the Sigma-1 receptor, which is currently undergoing phase II clinical trials and covers multiple indications in the field of neuropathic pain.
It also includes MuMo-1, one of the main products from Esteve’s multimodal technology platform (MuMo), which is in pre-clinical development. Mundipharma and Purdue will have the main marketing rights, while the Catalan laboratory will preserve these rights in some regions.
The other project that falls under this alliance is called E-58425, a newly patented product consisting of a Celecoxib and Tramadol co-crystal. This product benefits from the properties of these two compounds, which have already been proven effective, while reducing the dosage and the associated side effects.
Albert Esteve, CEO of Esteve, says that the company’s experience in pain management partnered with “the capacity of Mundipharma and Purdue to launch, develop and market new drugs”, generates great conditions to work together and offer patients innovative new treatments.