Relmada Therapeutics (OTCQB:RLMD +8.3%) has acquired global rights to develop and commercialize lead candidate dextromethadone (REL-1017) for the treatment of neurological conditions, including certain rare diseases, that affect the central nervous system (CNS). It previously owned the rights to the drug for psychological and psychiatric disorders, including depression, anxiety, fatigue and mood instability. Financial terms are not disclosed.
A Phase 2a study assessing dextromethadone for the adjunctive treatment of major depressive disorder, a Fast Track designation in the U.S., should launch no later than Q2.
Dextromethadone, an N-methyl-D-aspartate (NMDA) receptor antagonist, is a single isomer of methadone but has no opioid- or ketamine-like toxicities. It is being developed to treat neuropathic pain in addition to depression.
Previously: Relmada's lead product candidate REL-1017 Fast Track'd for MDD; shares ahead 20% premarket (April 13, 2017)
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