Healthcare Industry News: Axium
News Release - July 11, 2017
The FDA has Accepted an Orphan Designation Request for use of Truveta Administered Intranasally Submitted by Axium Pharmaceuticals Inc.HIGH POINT, N.C., July 11, 2017 -- (Healthcare Sales & Marketing Network) -- Axium Pharmaceuticals Inc. (www.axium-pharma.com) is a pharmaceutical company aimed at utilizing drug delivery innovations for developing improved novel formulations and alternative dosage forms of existing biologically active molecule.
Axium is patent pending not only on the use of Truveta (Lorazepam) administered intranasally, but also a new intranasal administration product that is highly accurate, reproducible and convenient for delivery of one or more predetermined unit doses of lorazepam in the form of a nasal spray delivery system.
The objective is to produce the relatively rapid onset of a therapeutic effect and the moderate duration of therapeutic activity, with minimal side effects and improved bio-availability.
Furthermore, the system's delivery method is designed to be safe and easy, producing minimal physical discomfort and anxiety to the patient. The medication is delivered through a small, inexpensive, manually operated and disposable device, and will be prepared under aseptic conditions; no significant residue is left in the delivery device following administration.
The FDA has accepted an orphan designation request for the intranasal lorazepam, (Truveta) administered intranasally in the Treatment of Lennox-Gastaut syndrome using the formulation that Axium is developing.
Orphan drug designation will provide the following benefits, protocol assistance offered by FDA, tax credits of 50% of the clinical drug testing cost awarded upon approval, waiver of NDA/BLA application, waiver of NDA/BLA application fee this is a $2.2 million value and, and the designation would give Axium a seven-year market exclusivity for the sale of Truveta, among many other advantages.
Axium plans to soon be publicly traded. Keep checking the website for updates. www.axium-pharma.com
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Source: Axium Pharmaceuticals
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