Sosei Group Corporation ("Sosei"; TSE Mothers Index: 4565), the biopharmaceutical company, today announced that Sosei R&D Ltd., its wholly owned UK subsidiary, has entered into an agreement to assign its rights to the assets of AD 923, an optimised, sublingual formulation of the opioid analgesic fentanyl for the treatment of cancer breakthrough pain, as well as to the device for drug administration to Pharmasol R&D Ltd. ("Pharmasol"), a privately held UK company.
The AD 923 development programme had previously entered Phase III clinical trials in Europe. However, due to the changes in regulatory environment, restructuring of Sosei R&D business operation, the programme had been halted.
Based on the present agreement Sosei R&D will receive payments from Pharmasol based on revenues arising from the commercialization of these assigned assets.
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