NetworkNewsBreaks – Odyssey Health Inc.’s (ODY
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Posted On: 06/15/2022 4:03:37 PM
NetworkNewsBreaks – Odyssey Health Inc.’s (ODYY) Novel Drug Candidate Represents a Valuable Asset
Odyssey Health (OTC: ODYY) recently completed a safety evaluation of cohort I of its phase I clinical trial administering PRV-002, the company’s novel drug treatment for concussion. “Findings from the cohort, which included eight healthy human volunteers that received a single dose of PRV-002 or placebo followed by evaluations for abnormal responses, showed that the participants did not exhibit any severe adverse events as PRV-002 was well tolerated,” a recent article reads. “The completion of the safety evaluation is the latest milestone as the company journeys toward providing concussion treatment… With the phase I clinical trial, which consists of 48 healthy subjects, ongoing, Odyssey expects to report additional results as they become available. And while the PRV-002 drug candidate may still be undergoing trials, it is a valuable asset for the company, especially considering recent high-value licensing trends. For instance, biopharmaceutical company AbbVie Inc. (NYSE: ABBV) and clinical-stage biotechnology company Cugene Inc. recently entered into an exclusive worldwide license option agreement for Cugene’s CUG252, a phase 1 drug candidate… Under the terms of the agreement, AbbVie will part with an upfront payment of $48.5 million, with additional payments due later should it exercise the license option. In addition, for another phase 1 drug candidate, AbbVie recently ‘back-loaded the acquisition of privately held Syndesi Therapeutics, paying $130 million initially…’”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Odyssey Health (OTC: ODYY) recently completed a safety evaluation of cohort I of its phase I clinical trial administering PRV-002, the company’s novel drug treatment for concussion. “Findings from the cohort, which included eight healthy human volunteers that received a single dose of PRV-002 or placebo followed by evaluations for abnormal responses, showed that the participants did not exhibit any severe adverse events as PRV-002 was well tolerated,” a recent article reads. “The completion of the safety evaluation is the latest milestone as the company journeys toward providing concussion treatment… With the phase I clinical trial, which consists of 48 healthy subjects, ongoing, Odyssey expects to report additional results as they become available. And while the PRV-002 drug candidate may still be undergoing trials, it is a valuable asset for the company, especially considering recent high-value licensing trends. For instance, biopharmaceutical company AbbVie Inc. (NYSE: ABBV) and clinical-stage biotechnology company Cugene Inc. recently entered into an exclusive worldwide license option agreement for Cugene’s CUG252, a phase 1 drug candidate… Under the terms of the agreement, AbbVie will part with an upfront payment of $48.5 million, with additional payments due later should it exercise the license option. In addition, for another phase 1 drug candidate, AbbVie recently ‘back-loaded the acquisition of privately held Syndesi Therapeutics, paying $130 million initially…’”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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