Lightlake in deal with Adapt Pharma subsidiary

16 December 2014

UK biopharma firm Lightlake Therapeutics (OTCQB: LLTP) has entered into a license agreement with Adapt Pharma Operations, a wholly-owned subsidiary of privately-held Irish drugmaker Adapt Pharma.

Under the accord, Adapt has received from Lightlake a global license to develop and commercialize Lightlake's intranasal naloxone opioid overdose reversal treatment. In exchange, Lightlake could receive potential development and sales milestone payments of more than $55 million, plus up to double-digit royalties. The news saw Lightlake’s share gain 8.1% to $0.04.

Lightlake has been developing a nasal spray for the delivery of naloxone that could widely expand its availability and use in preventing opioid overdose deaths, a widespread and under-addressed public health problem in the USA.

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