PharmaTher's Novel Ketamine Heads For The US Market With New Collaboration Agreement

Psychedelics biotech PharmaTher Holdings PHRRF has entered into a collaborative partnership with pharma marketing company Vitruvias Therapeutics for the commercialization of its proprietary racemic ketamine products, KETARX, in the U.S. market.

The collaboration contemplates a definitive agreement having PharmaTher as responsible for KETARX’s regulatory, manufacturing and supply, while Vitruvias would work on marketing, sales and distribution to hospitals, institutional and clinical channels.

The products will be available under ketamine’s FDA-approved label, coming in various dosage forms (10, 50 and 100 mg/ml) and with the option of increasing concentration and ready-to-administer applications. 

Beyond the federal agency’s approved indications, the compound is also being administered in hospitals and clinics to treat various disorders encompassing mental health, neurological and pain.

See also: PharmaTher Seeks Regulatory Approval Of New Ketamine Delivery System For Anesthesia And Sedation

PharmaTher’s CEO Fabio Chianelli says the company’s “highest priority” is obtaining regulatory approvals as well as commercializing KETARX “worldwide” for unmet medical needs.

See also: Ketamine Company Advances Parkinson's Treatment Through Final Stages Toward FDA Approval

“We are focused on building a network of strong commercial partnerships with leading specialty generic companies that are experienced in the marketing, sales and distribution to the hospital, institutional and clinic channels within their territories,” Chianelli further stated.

On behalf of Vitruvias, CEO Carl L. Whatley Jr. added that ketamine’s “evolving adoption” for its current FDA-approved use and other potential indications mark a growth opportunity in the U.S. market, which the company would leverage through its “strong commercial expertise and infrastructure.”

PharmaTher expects to file its Abbreviated New Drug Application (ANDA) for KETARX with the FDA in early July and obtain the agency’s approval in the first quarter of 2024. 

Anticipating KETARX's commercial launch in next year’s second quarter, the partners will work on pre-launch activities including marketing, pricing, distribution, managed care, trade relations and sales plans.

Photo: Benzinga edit with photo by Pexels.

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisNewsPenny StocksPsychedelicsFDAMarketsKetamine TherapyVitruvias Therapeutics
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Top Cannabis Event In New Jersey

Join the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money and capitalize on the booming NJ recreational market. Don’t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code "JAVIER20" for 20% off!