Tris Pharma, Vernalis deal

The partners said Tris achieved the second milestone under a February 2012 deal granting Vernalis exclusive, North American rights to commercialize up to six reformulated prescription cough and cold products using Tris' OralXR+ extended-release formulation technology. Tris is responsible for developing the products. The milestone was triggered by Tris' achievement of proof of concept for CCP-07. The compound is an extended-release formulation of an undisclosed existing cough and cold product. The partners said that proof of concept includes the completion of a human pilot study comparing CCP-07 to an immediate-release reference product and that Tris plans to submit an NDA for the product in 2H15. Tris directed questions to Vernalis, which declined to disclose financial terms. ...