Acerus Engages Paradigm Capital to Pursue Cannabinoid Opport Acerus Pharmaceuticals Corporation (TSX:ASP) (“Acerus” or the “Company”) today announced that it has engaged Paradigm Capital Inc. (“Paradigm”) as its financial advisor to leverage its proprietary nasal delivery technology in cannabinoid applications through licensing, partnership agreements or other transactions with interested parties.
On December 11, 2018, Acerus had previously announced the results of its Phase 1 clinical trial (the “trial”) testing a proprietary intranasal formulation of a tetrahydrocannabinol (“THC”)-rich cannabis oil in healthy volunteers. The results demonstrated the following:
• The nasal formulation was absorbed and resulted in extended PK profile with maximum peak levels (Tmax) occurring seven hours after administration, on average;
• Bioavailability of THC from the nasal formulation was approximately 2.2 times better than oral dronabinol capsules as described in recent literature (see Oh et al., Clinical Pharmacology: Advances and Applications 2017, 9, 9); and
• A majority of subjects reported appreciation of several key features of the nasal product, including quick/easy use, consistent dosing, portability and absence of smoke.
“We believe that the combination of the nasal delivery technology as well as the results of the trial creates an asset and opportunity of sizeable value,” said Ed Gudaitis, President and Chief Executive Officer of Acerus. “At the same time, we are currently not interested in directly entering the Cannabis market or to become a licensed producer. As a result, we are pleased to work with Paradigm to find a partner that can monetize the value in this opportunity.”