Protect Pharma sells patent portfolio to Germany's Grunenthal

10 February 2011

New Jersey, USA-based Protect Pharmaceutical Corporation (OTC Bulletin Board: PRTT) says that it has completed the sale of two patents and patents-applications to privately-held Grunenthal GmbH, a German specialty pharmaceutical company focussing on pain drug discovery and research.

The patent portfolio includes innovative pain drugs that address the large and underserved pain market. Financial terms of the transaction were not disclosed.

Ram Sesha, Protect's chief operating officer, said: "We are very happy to see Protect's programs are innovative and promising enough to attract someone like Grunenthal, a leader in pain drug discovery and research."

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