Isosceles Pharmaceuticals, Inc., a preclinical stage pharmaceutical company ("Isosceles", or the "Company") engaged in the development of synthetic cannabidiol for the treatment of pain has announced the execution of a non-binding letter of intent with a strategic partner for the phase 1 development of the Company's intravenous product, IPI 201. The non-binding letter of intent ("LOI") provides Isosceles with a strategic partner that will accelerate the use of the Company's cannabidiol intravenous product, IPI 201, in humans. This proposed partnership will provide Isosceles with a proven CRO partner for IPI 201 and the opportunity to dose humans in 2023.
"This agreement is another step forward for Isosceles as we pursue novel and non-opioid options for the treatment of pain," said Brett Lanier, President of Isosceles. "Further, the opportunity to partner with an established Contract Research Organization as part of our Phase 1 trials is a significant milestone for IPI 201 and will help us validate our proprietary non-opioid offering for the treatment of pain."
About Isosceles Pharmaceuticals
Using novel parenteral delivery systems, Isosceles Pharmaceuticals is developing a platform of proprietary options to treat acute pain. Parenteral delivery reduces hepatic exposure by avoiding first-pass metabolism and maximizes bioavailability by direct systemic delivery. With nearly 80 million inpatient and outpatient surgical procedures performed in the U.S. annually, the treatment of acute postoperative pain remains an unmet need particularly with the current opioid crisis. Effective treatment of postoperative pain is important to hospitals, doctors, and their patients. Unrelieved pain can produce adverse effects on the cardiovascular system, pulmonary function, sleep, mood stability, normal physical function, and the potential for deleterious effects on the immune system, which can transition to chronic pain.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of U.S. federal securities laws. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue" and similar expressions are intended to identify such forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements relating to the LOI. Statements regarding the LOI are non-binding until such time that a definitive agreement is entered into and closed. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These risks and uncertainties include, among others, the fact that a definitive agreement may not be entered into or consummated. Isosceles cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this press release, and Isosceles undertakes no obligation to update or revise the statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.