Protect Pharmaceutical Corporation (OTC Bulletin Board: PRTT) announced that it has completed the sale of two patents and patents-applications to Grunenthal GmbH, a German specialty pharmaceutical company that is a pioneer in pain drug discovery and research. The patent portfolio includes innovative pain drugs that address the large and underserved pain market.
Ram Sesha, Protect's Chief Operating Officer, said, "We are very happy to see Protect's programs are innovative and promising enough to attract someone like Grunenthal, a leader in pain drug discovery and research."
Protect still retains the patents related to abuse deterrent and once daily gastro-retentive drug delivery platforms and the corresponding three other ongoing projects. In the near term, Protect intends to proceed with a comprehensive program to develop and commercialize once-daily drugs for diabetic neuropathic pain, fibromyalgia, postherpetic neuralgia and epilepsy. Protect also plans to develop and commercialize once-daily opioid combinations as well as abuse-deterrent opioid combinations for moderate to severe pain.