On October 23, 2018, the Company entered into Amendment No. 2 to the license agreement by and between Amarantus Bioscience Holdings, Inc. and PGI Drug Discovery LLC (‘PGI’), which relates to the development of eltoprazine (the “Elto License”). Amendment No. 2 was entered into as part of a settlement agreement between the Company and PGI (the “Elto Settlement”), resulting from a dispute between PGI and Amarantus (the “Elto Termination Complaint”).
The Elto Termination Complaint was the result of a disagreement between the Company
and PGI regarding the Company’s compliance with the terms of the Elto License and related agreements. On October 31st, 2018, PGI confirmed it would file the notice of dismissal of the Elto Termination Complaint.
The primary terms of the Elto Settlement are as follows:
1. Amarantus caused $100,000 to be delivered to PGI on October 25, 2018 in exchange for eltoprazine-related research data provided by PGI;
2. Amarantus assigned all rights, title and interest to eltoprazine, including licenses, patents and related intellectual property, to the Company’s subsidiary Elto Pharma, Inc.;
3. Amarantus assigned 40% of the common shares it owned in Elto Pharma to PGI;
4. All liens related to the eltoprazine intellectual property were rescinded by the Company’s secured
debtors;
5. Amarantus agreed to pay $1,000,000 to PGI upon receipt of funds from a 3rd party
biopharmaceutical company with which the Company agreed to merge its Elto Pharma subsidiary into that is preparing to conduct an initial public offering on the Hong Kong Stock Exchange (the “Merger”);
a. Such Merger must be completed by December 15th, 2018;
b. Upon the Merger, a minimum of $6,000,000 of dedicated funds must be raised to advance
eltoprazine into Phase 2b human trials by April 23rd, 2018;
6. PGI may terminate the Elto License for certain breaches, including failure to complete the merger
by December 15th, 2018.
On December 15th, 2018, the Company entered into the definitive Merger Agreement between Elto Pharma, Inc. and
Coeptis Pharmaceuticals, Inc. Under the terms of the agreement, Coeptis will issue 7.5 million shares of Coeptis
common stock to shareholder of Elto Pharma, Inc., then representing 1/3 of outstanding Coeptis shares outstanding,
in exchange for all of the shares of Elto Pharma, Inc. An additional 7.5 million shares of Coeptis common shares are
issuable upon the earlier of:
1) Successful completion of a Phase 2b trial for eltoprazine in Parkinson’s levodopa-induced dyskinesia;
or
2) New Drug Application approval by US FDA for eltoprazine in any indication.
Key closing conditions for the Elto Pharma, Inc. and Coeptis Pharmaceuticals Merger Agreement include:
1. Payment of Psychogenics, Inc. legal fees by December 31st, 2018;
2. Acquisition of D&O insurance by January 15, 2019;
3. Coeptis raising a minimum of $6M dedicated towards the development of eltoprazine by April 5, 2019.
Coeptis Pharma Buys Elto Pharma for Phase II Parkinson's Asset
Published: Nov 28, 2018
Coeptis Pharma Buys Elto Pharma for Phase II Parkinson's Asset
Published: Nov 28, 2018
By Mark Terry
Wexford, Pa.-based Coeptis Pharmaceuticals is buying New York-based Elto Pharma. Elto Pharma is a joint venture between Amarantus Bioscience Holdings and PsychoGenics.
Under the deal, Coeptis is acquiring all outstanding share of Elto. Financial details have not been disclosed.
Elto Pharma is developing eltoprazine, which is in Phase IIb clinical development for Parkinson’s disease levodopa-induced dyskinesias, or Parkinson’s LID.
“Eltoprazine will be a key long-term growth driver for Coeptis given its outstanding profile as a potential therapy across several brain-related conditions,” stated David Mehalick, president and chief executive officer of Coeptis. “As we focus on the near-term commercialization of our 505(b)2 and generic pipeline, with the launch of our first FDA-approved 505(b)2 product expected in 2019, Coeptis will be strongly positioned to successfully launch its products across multiple disease areas in the years ahead. Eltoprazine has a blockbuster potential as a new chemical entity treatment for multiple neurological conditions, beginning with Parkinson’s LID.”
Eltoprazine was first developed by Solvay, now AbbVie, for aggression-related indications. It was then out-licensed to PsychoGenics, which then licensed it to Amarantus in 2014. In April 2017, Amarantus incorporated the wholly-owned Elto Pharma in order to raise capital for clinical development of eltoprazine.
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Earlier this month, Coeptis signed a multi-product agreement with Mumbai, India’s Ciron Drugs & Pharmaceuticals. Under that deal, the two companies will develop and commercialize several generic drugs. Ciron will develop and manufacture several drugs exclusively for Coeptis to market in the U.S. under its label. According to IMS Health, the drugs have a total U.S. sales of more than $100 million.
“We are very excited to partner with such an honorable company,” stated Dan Yerace, vice president of Operations at Coeptis. “Ciron’s business and personal integrity is world-class, and its commitment to manufacturing high-quality products has earned them a reputation of excellence. Partners like Ciron will play a vital role as Coeptis continues to expand its pipeline of niche, high-value products.”
Amarantus describes itself as “a U.S.-based, JLABS-alumnus biotechnology holding company developing first-in-class orphan neurologic, regenerative medicine and ophthalmic therapies and diagnostics through its subsidiaries.”
In June, it updated plans to raise capital for Elto Pharma. An independent third-party valuation valued eltoprazine in the U.S. and Europe at $316 million. At that time, Amarantus had two pathways for Elto. The first was standalone private funding followed by an initial public offering (IPO) in the U.S. or Hong Kong. The second was a business combination with an established clinical-stage pharma company where Amarantus could become a significant shareholder.
At the time, Gerald E. Commissiong, president and chief executive officer of Amarantus and interim-chief executive officer of Elto, stated, “The immediate focus for Amarantus with regards to our wholly-owned subsidiary Elto Pharma is to ensure that we maximize the current value inherent in the eltoprazine asset, where a recent independent third-party valuation places the value of eltoprazine in PD-LID alone in the U.S. and Europe at approximately 30x the entire current market capitalization of Amarantus.”
He went on to say, “With the capital restructuring of Amarantus nearing its final stages, we believe we will soon be positioned to properly execute upon our Elto Pharma strategy. Ultimately, we see value not only from the PD-LID orphan indication for eltoprazine, which we expect to appreciate significantly over time as the PID-LID indication is further clinically de-risked, but we also intend to see the Agitation in Alzheimer’s disease and Adult ADHD indications for eltoprazine become valued by the market as Elto Pharma executes upon its clinical development strategy.”
https://www.biospace.com/article/coeptis-phar...to-pharma/
Coeptis Pharmaceuticals signs multi-product co-development agreement with Ciron Drugs & Pharmaceuticals Pvt. Ltd
Press Release (ePRNews.com) - WEXFORD, Pa. - Nov 09, 2017 - Coeptis Pharmaceuticals, LLC announced today that it has entered into a multi-product agreement with Ciron Drugs & Pharmaceuticals Pvt. Ltd (Mumbai, India) under which Coeptis and Ciron expect to develop and commercialize several ANDAs. Under the terms of the agreement, Ciron will develop, manufacture, and supply the selected products exclusively to Coeptis for the U.S. market, and Coeptis will market and distribute the products under its label. The initial agreement includes a basket of products with annual U.S. brand sales of more than $100 Million USD, according to IMS Health data.
Dan Yerace, Vice President of Operations at Coeptis stated: “We are very excited to partner with such an honorable company. Ciron’s business and personal integrity is world-class, and its commitment to manufacturing high-quality products has earned them a reputation for excellence. Partners like Ciron will play a vital role as Coeptis continues to expand its pipeline of niche, high-value products.”
https://eprnews.com/coeptis-pharmaceuticals-s...nt-262018/
Coeptis Pharmaceuticals, Inc. is a privately held biopharmaceutical company engaged in the acquisition, development and commercialization of branded and generic pharmaceutical products
http://coeptispharma.com/news/
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The Elto Termination Complaint was the result of a disagreement between the Company
and PGI regarding the Company’s compliance with the terms of the Elto License and related agreements. On October 31st, 2018, PGI confirmed it would file the notice of dismissal of the Elto Termination Complaint.
The primary terms of the Elto Settlement are as follows:
1. Amarantus caused $100,000 to be delivered to PGI on October 25, 2018 in exchange for eltoprazine-related research data provided by PGI;
2. Amarantus assigned all rights, title and interest to eltoprazine, including licenses, patents and related intellectual property, to the Company’s subsidiary Elto Pharma, Inc.;
3. Amarantus assigned 40% of the common shares it owned in Elto Pharma to PGI;
4. All liens related to the eltoprazine intellectual property were rescinded by the Company’s secured
debtors;
5. Amarantus agreed to pay $1,000,000 to PGI upon receipt of funds from a 3rd party
biopharmaceutical company with which the Company agreed to merge its Elto Pharma subsidiary into that is preparing to conduct an initial public offering on the Hong Kong Stock Exchange (the “Merger”);
a. Such Merger must be completed by December 15th, 2018;
b. Upon the Merger, a minimum of $6,000,000 of dedicated funds must be raised to advance
eltoprazine into Phase 2b human trials by April 23rd, 2018;
6. PGI may terminate the Elto License for certain breaches, including failure to complete the merger
by December 15th, 2018.
On December 15th, 2018, the Company entered into the definitive Merger Agreement between Elto Pharma, Inc. and
Coeptis Pharmaceuticals, Inc. Under the terms of the agreement, Coeptis will issue 7.5 million shares of Coeptis
common stock to shareholder of Elto Pharma, Inc., then representing 1/3 of outstanding Coeptis shares outstanding,
in exchange for all of the shares of Elto Pharma, Inc. An additional 7.5 million shares of Coeptis common shares are
issuable upon the earlier of:
1) Successful completion of a Phase 2b trial for eltoprazine in Parkinson’s levodopa-induced dyskinesia;
or
2) New Drug Application approval by US FDA for eltoprazine in any indication.
Key closing conditions for the Elto Pharma, Inc. and Coeptis Pharmaceuticals Merger Agreement include:
1. Payment of Psychogenics, Inc. legal fees by December 31st, 2018;
2. Acquisition of D&O insurance by January 15, 2019;
3. Coeptis raising a minimum of $6M dedicated towards the development of eltoprazine by April 5, 2019.
Coeptis Pharma Buys Elto Pharma for Phase II Parkinson's Asset
Published: Nov 28, 2018
Coeptis Pharma Buys Elto Pharma for Phase II Parkinson's Asset
Published: Nov 28, 2018
By Mark Terry
Wexford, Pa.-based Coeptis Pharmaceuticals is buying New York-based Elto Pharma. Elto Pharma is a joint venture between Amarantus Bioscience Holdings and PsychoGenics.
Under the deal, Coeptis is acquiring all outstanding share of Elto. Financial details have not been disclosed.
Elto Pharma is developing eltoprazine, which is in Phase IIb clinical development for Parkinson’s disease levodopa-induced dyskinesias, or Parkinson’s LID.
“Eltoprazine will be a key long-term growth driver for Coeptis given its outstanding profile as a potential therapy across several brain-related conditions,” stated David Mehalick, president and chief executive officer of Coeptis. “As we focus on the near-term commercialization of our 505(b)2 and generic pipeline, with the launch of our first FDA-approved 505(b)2 product expected in 2019, Coeptis will be strongly positioned to successfully launch its products across multiple disease areas in the years ahead. Eltoprazine has a blockbuster potential as a new chemical entity treatment for multiple neurological conditions, beginning with Parkinson’s LID.”
Eltoprazine was first developed by Solvay, now AbbVie, for aggression-related indications. It was then out-licensed to PsychoGenics, which then licensed it to Amarantus in 2014. In April 2017, Amarantus incorporated the wholly-owned Elto Pharma in order to raise capital for clinical development of eltoprazine.
Click here to get the latest life sciences jobs, tailored for you. Subscribe now to job alerts
Earlier this month, Coeptis signed a multi-product agreement with Mumbai, India’s Ciron Drugs & Pharmaceuticals. Under that deal, the two companies will develop and commercialize several generic drugs. Ciron will develop and manufacture several drugs exclusively for Coeptis to market in the U.S. under its label. According to IMS Health, the drugs have a total U.S. sales of more than $100 million.
“We are very excited to partner with such an honorable company,” stated Dan Yerace, vice president of Operations at Coeptis. “Ciron’s business and personal integrity is world-class, and its commitment to manufacturing high-quality products has earned them a reputation of excellence. Partners like Ciron will play a vital role as Coeptis continues to expand its pipeline of niche, high-value products.”
Amarantus describes itself as “a U.S.-based, JLABS-alumnus biotechnology holding company developing first-in-class orphan neurologic, regenerative medicine and ophthalmic therapies and diagnostics through its subsidiaries.”
In June, it updated plans to raise capital for Elto Pharma. An independent third-party valuation valued eltoprazine in the U.S. and Europe at $316 million. At that time, Amarantus had two pathways for Elto. The first was standalone private funding followed by an initial public offering (IPO) in the U.S. or Hong Kong. The second was a business combination with an established clinical-stage pharma company where Amarantus could become a significant shareholder.
At the time, Gerald E. Commissiong, president and chief executive officer of Amarantus and interim-chief executive officer of Elto, stated, “The immediate focus for Amarantus with regards to our wholly-owned subsidiary Elto Pharma is to ensure that we maximize the current value inherent in the eltoprazine asset, where a recent independent third-party valuation places the value of eltoprazine in PD-LID alone in the U.S. and Europe at approximately 30x the entire current market capitalization of Amarantus.”
He went on to say, “With the capital restructuring of Amarantus nearing its final stages, we believe we will soon be positioned to properly execute upon our Elto Pharma strategy. Ultimately, we see value not only from the PD-LID orphan indication for eltoprazine, which we expect to appreciate significantly over time as the PID-LID indication is further clinically de-risked, but we also intend to see the Agitation in Alzheimer’s disease and Adult ADHD indications for eltoprazine become valued by the market as Elto Pharma executes upon its clinical development strategy.”
https://www.biospace.com/article/coeptis-phar...to-pharma/
Coeptis Pharmaceuticals signs multi-product co-development agreement with Ciron Drugs & Pharmaceuticals Pvt. Ltd
Press Release (ePRNews.com) - WEXFORD, Pa. - Nov 09, 2017 - Coeptis Pharmaceuticals, LLC announced today that it has entered into a multi-product agreement with Ciron Drugs & Pharmaceuticals Pvt. Ltd (Mumbai, India) under which Coeptis and Ciron expect to develop and commercialize several ANDAs. Under the terms of the agreement, Ciron will develop, manufacture, and supply the selected products exclusively to Coeptis for the U.S. market, and Coeptis will market and distribute the products under its label. The initial agreement includes a basket of products with annual U.S. brand sales of more than $100 Million USD, according to IMS Health data.
Dan Yerace, Vice President of Operations at Coeptis stated: “We are very excited to partner with such an honorable company. Ciron’s business and personal integrity is world-class, and its commitment to manufacturing high-quality products has earned them a reputation for excellence. Partners like Ciron will play a vital role as Coeptis continues to expand its pipeline of niche, high-value products.”
https://eprnews.com/coeptis-pharmaceuticals-s...nt-262018/
Coeptis Pharmaceuticals, Inc. is a privately held biopharmaceutical company engaged in the acquisition, development and commercialization of branded and generic pharmaceutical products
http://coeptispharma.com/news/
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