Ault Global Holdings Announces Agreement to Acquire up to 40% of Adtech Pharma, Inc.
Adtech is an innovative biotech firm that has developed a novel formulation of a sole-sourced synthetic cannabinoid therapeutic targeting glaucoma. Adtech believes that there is a worldwide marketplace of over
Adtech features a seasoned management team:
Robert Kupper, PhD, is Adtech’s President and CEO, and was formerly with the National Institute of Health, WR Grace, Hercules, Rhodes Technologies, and Rhodes Pharmaceuticals;
Lex Adjei, PhD, is Adtech’s Vice President of R&D and was formerly with AbbVie, Kos Pharmaceuticalsand Rhodes Pharmaceuticals;
Ping Chang, PhD, is Adtech’s Vice President of Operations and was formerly with Pfizer, Schering Plough, Merck, Rhodes Technologies, and Rhodes Pharmaceuticals; and
Iok-Hou Pang, PhD, is Adtech’s Vice President of Product Development, and was formerly with Alcon, Novartis, and is the founding chair of the University of North Texas School of Pharmacy.
The investment in Adtech is being made through
Highlights regarding Adtech and NB-110, a novel ophthalmic formulation with a unique breakthrough mechanism of action:
- NB-110 comprises of a synthetic cannabinoid Nabilone in the absence of any preservative and its formulation mimics a human tear to drive efficacious delivery through the cornea to the retina and optical nerves in the back of eye;
Adtech will own the
U.S. Patent and Trademark Officeregistered intellectual property in composition, method of manufacturing and use;
- Adtech notes that, to date, no company has demonstrated in clinical trials that natural cannabinoids are efficacious for glaucoma despite anecdotal evidence;
- Synthetic Nabilone is a cannabinoid receptor agonist, a crystalline, and is stable under heat, light and oxygen, an advantage over natural occurring cannabinoids such as dronabinol and cannabidiol;
- Based on Adtech’s preclinical findings, NB-110 is targeted to lower interocular pressure and protect optical nerves for glaucoma patients;
- Adtech believes its formulation makes this drug unique and differentiates it from today’s marketed glaucoma medications; and
- Adtech is pursuing a 505(b)(2) regulatory pathway for NB-110 to provide an alternate solution for those who find current treatments inadequate.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are very pleased to partner with Adtech and their very talented and experienced management team. The strength of Ault Global’s platform has been affirmed by our recent successes. We continue to grow our platform and invest in undervalued businesses and disruptive technologies with a global impact.”
For more information on
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