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Adare Acquires Egalet’s Proprietary “ParvuletTM” Technology Platform

April 15, 2019 Off By BusinessWire

PRINCETON, N.J. & WAYNE, Pa.–(BUSINESS WIRE)–Adare Pharmaceuticals, Inc. today announced that it has entered into an
agreement with Egalet Corporation (OTCQX: ZCOR), to acquire global
rights of the “Parvulet^TM” technology platform and its
associated Intellectual Property. The technology is protected by several
patents granted in the United States, Canada and Europe with patent life
ranging from five to 10 years.

Using commonly used pharmaceutical excipients, the technology enables
single-dose formulation of taste-masked, easy-to-swallow oral
medications with a soft food like texture for pediatric and geriatric
populations (including those with dysphagia). One of the unique features
of the technology is its ability to enable high dose regimens that may
not be feasible by other means. Parvulet technology will be
complementary to the existing proprietary technologies owned by Adare
Pharmaceuticals, allowing the company to expand its product development
capabilities.

“We are excited to bring this new technology into our portfolio of
proven product development technology platforms,” commented Ajay Damani,
Vice President, Pharmaceutical Technologies at Adare. “It demonstrates
our commitment to advancing novel technologies for improved drug
delivery mechanisms and better healthcare solutions for patients.”

Under the agreement, Egalet will transfer the Intellectual Property and
know-how to Adare Pharmaceuticals, effective immediately. Details of the
agreement terms were not disclosed.

“Given our focus on our seven commercial products, we are pleased to
have signed this agreement enabling Adare to leverage the Parvulet
technology to develop new products,” said Mark Strobeck, Egalet Chief
Operating Officer.

To find out more about the technology and how Adare can partner with
you, please send requests to [email protected].

About Adare Pharmaceuticals, Inc.

Adare Pharmaceuticals utilizes its differentiated Pharmaceutical
Technology and Microbiome scientific platforms to develop novel
value-added products for the global market. Through its Specialty CDMO
business, Adare provides co-development and contract services to
biopharmaceutical companies to develop and manufacture products that are
marketed by its partners. Through its Adare Development affiliate, Adare
invests in its own product pipeline and currently has a number of
investigational products in various stages of development. Adare has
developed and manufactured more than 40 products sold by partners in
more than 100 countries globally including Lacteol™, Zoolac™, Viactiv™,
Amrix ® and a number of branded and complex generic products. http://www.adarepharma.com.

About Egalet

Egalet, a commercial-stage pharmaceutical company, is focused on
marketing treatments for different types of pain and inflammation. Given
the need for various types of pain products and the ongoing issue of
prescription opioid abuse, Egalet is focused on bringing non-narcotic
products and abuse-discouraging formulations of opioids to individuals
in pain and the healthcare providers who care for them. Egalet markets
six products: SPRIX^® (ketorolac tromethamine) Nasal Spray,
ZORVOLEX^®(diclofenac), VIVLODEX^®(meloxicam),
TIVORBEX^®(indomethacin), , INDOCIN^® (indomethacin)
suppositories, INDOCIN oral suspension capsules and OXAYDO^®
(oxycodone HCI, USP) tablets for oral use only —CII.

For full prescribing information, boxed warnings and medication guides,
please visit the following sites for each product: sprix.com,
vivlodex.com, zorvolex.com, tivorbex.com, and oxaydo.com. Prescribing
information, the boxed warning and medication guide for INDOCIN oral
suspension and suppositories, can be found at dailymed.nlm.nih.gov.