Trevena Announces Advancement of Oliceridine Clinical Development in China by Jiangsu Nhwa Pharmaceutical Co.
Rhea-AI Summary
Trevena, Inc. (Nasdaq: TRVN) announced that its partner in China has received approval from the National Medical Products Administration to begin clinical trials for IV oliceridine, a pain management drug. This regulatory milestone supports Trevena's anticipated PDUFA date on August 7 for U.S. approval. The company expects milestone payments and a 10% royalty on net sales of oliceridine in China. Oliceridine is designed for managing moderate-to-severe acute pain and may have fewer side effects due to its selective action.
Positive
- Chinese regulatory approval for clinical trials of IV oliceridine marks an important milestone.
- Expected milestone payments and 10% royalty from oliceridine sales in China could enhance revenue.
Negative
- None.
News Market Reaction – TRVN
In the trading session that priced this news, TRVN declined 4.38%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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CHESTERBROOK, Pa., June 03, 2020 (GLOBE NEWSWIRE) -- Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced the Company’s partner in China has been approved by the Chinese National Medical Products Administration (NMPA) to initiate clinical trials for IV oliceridine, Trevena’s lead investigational asset for the management of moderate-to-severe acute pain. Jiangsu Nhwa holds an exclusive license agreement for the development and commercialization of oliceridine in China.
“I am pleased to have reached this important regulatory milestone for IV oliceridine ,” said Carrie Bourdow, President and Chief Executive Officer of Trevena, Inc. “As we work towards our August 7th PDUFA date for potential approval in the U.S., we also continue to support our ex-U.S. partnerships, as part of our mission to deliver novel treatment options to patients with moderate-to-severe acute pain.”
The Company expects to receive future milestone payments, as well as a
About Oliceridine
Oliceridine is a G protein-selective mu-opioid receptor agonist in development for the management of moderate-to-severe acute pain in hospitals or other controlled clinical settings where intravenous therapy is warranted. It is a new chemical entity with a novel mechanism of action that enables more selective targeting of newly discovered pathways with the potential for fewer side effects. Oliceridine is an investigational product and has not been approved by FDA or any other regulatory agency. If approved, the Company expects that oliceridine will be classified as a Schedule II controlled substance.
About Trevena
Trevena, Inc. is a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with CNS disorders. The Company has five novel and differentiated investigational drug candidates, including IV oliceridine, for the management of moderate to severe acute pain in hospitals, TRV250 for the acute treatment of migraine, TRV734 for maintenance treatment of opioid use disorder, and TRV027 for acute lung injury in COVID-19 patients. The Company has also identified TRV045, a novel S1P receptor modulator that may offer a new, non-opioid approach to treating a variety of CNS disorders.
Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company’s strategy, future operations, clinical development and trials of its therapeutic candidates, plans for potential future product candidates and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “suggest,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the status, timing, costs, results and interpretation of the Company’s clinical trials or any future trials of any of the Company’s investigational drug candidates; the uncertainties inherent in conducting clinical trials; expectations for regulatory interactions, submissions and approvals, including the Company’s assessment of the discussions with FDA, the timing of FDA’s decision on the oliceridine NDA; available funding ; uncertainties related to the Company’s intellectual property; uncertainties related to the ongoing COVID-19 pandemic, other matters that could affect the availability or commercial potential of the Company’s therapeutic candidates; and other factors discussed in the Risk Factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings the Company makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent the Company’s views only as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, except as may be required by law.
For more information, please contact:
Investor Contact:
Dan Ferry
Managing Director
LifeSci Advisors, LLC
daniel@lifesciadvisors.com
(617) 430-7576
Company Contact:
Bob Yoder
SVP and Chief Business Officer
Trevena, Inc.
(610) 354-8840