Axxia has selected buprenorphine as its active pharmaceutical ingredient (“API ”) for its proof of concept development of its new drug eluting implant technology in a target use case of patients participating in drug rehabilitation. Buprenorphine (Schedule-3) is a partial Mu opioid receptor agonist that is the only approved drug for management of opioid addiction
Axxia has notice of allowance for its patents in Europe EP 2753303A1 and China CN 201280055107.5 with pending patents in the US as well.
As a platform, the Company intends to investigate combinations with demonstrated compliance issues for chronic diseases. The Company’s plan is to develop the Axxia device and proof-of-concept drug combination through a Phase I safety study, and then seek a business sale or licensing or other partnership. Axxia believes that adopting drug-device combinations as a product lifecycle strategy to maintain patent exclusivity will help generate interest from existing biopharmaceutical companies.
The targeted timeframe for achieving one or more such arrangements is 30-36 months after closing on this Offering.