BRIEF—Purdue Pharma takes exclusive option to acquire SpineThera

US drugmaker Purdue Pharma has entered into an agreement that provides it with an exclusive option to acquire SpineThera and gain worldwide rights to its products and technology platforms, including lead asset SX600, a novel dexamethasone containing microsphere that is in development for epidural administration for low back pain.

This technology has potential for development of non-opioid treatments for acute and chronic pain.

“We are pleased to partner with SpineThera to support further development of its novel steroid product for epidural injection for patients who suffer from low back pain,” said Dr Craig Landau, president and chief executive of Purdue Pharma.

“We are committed to alleviating pain through new and innovative non-opioid medicines. SX600 represents an exciting opportunity to meet this important medical need and advance our mission,” he added.

Safety and tolerability of SX600 will be evaluated during the clinical development program, which will be initiated by SpineThera in 2019.

The agreement, financial terms of which are not disclosed, is subject to final shareholder approval and customary closing conditions.