By: Dylan Sikes - AllPennyStocks.com News

Tuesday, May 12, 2015

In 2012, the chronic pain drug market was worth $21.4 billion. Decision Resources, a research and advisory firm, expects the market to decrease to $18.3 billion by 2017. However, the research firm sees a recovery thereafter and by 2022 the market is expected to be worth $21.6 billion in the U.S., France, Germany, Italy, Spain, the U.K., and Japan. The initial contraction in the chronic pain treatment market will be due to the loss of market exclusivity for a number of key chronic pain therapies. The recovery though will be driven by the launch of several new therapies. Decision Resources, citing a report called Chronic Pain, notes that the pipeline of therapies in development continues to be composed mainly of reformulations of existing molecules. However, some companies are also developing novel versions of proven drug products with new chemical entities.

One such company is Relmada Therapeutics Inc. (OTCQB:RLMD). Based in New York City, RLMD has a diversified portfolio of four products, which are at different stages of development. In addition, the company has an early stage pipeline of four products.

Earlier today, RLMD announced that it received a Notice of Allowance for U.S. patent covering SECUREL™. An abuse-deterrent extended-release technology platform for opioids, SECUREL is being utilized for the company’s product candidate LevoCap ER. LevoCap ER is an extended-release, abuse resistant form of levorphanol, which is pharmacologically differentiated from morphine, oxycodone, and other strong opioids being studied for the management of pain severe enough to require daily, long-term opioid treatment.

RLMD said that its Application No. 12/597,702 covering SECUREL was allowed for issuance as a new patent by the U.S. Patent and Trademark Office (USPTO). The patent is entitled “Multimodal Abuse Resistant and Extended Release Opioid Formulations” and once granted, the patent will be valid until 2028.

Commenting on the development, Sergio Traversa, CEO of Relmada Therapeutics, said that the newly allowed claims strengthen RLMD’s patent portfolio. Traversa noted that with the new patent protection and levorphanol’s broad spectrum activity, LevoCap ER could be well positioned commercially in the chronic pain treatment market if approved. He added that the company looks forward to initiating a Phase III study with LevoCap ER as soon as feasible following discussions with the U.S. Food and Drug Administration (FDA) with respect to the end of Phase II meeting. The meeting is expected to take place before the end of 2015.

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