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LONDON, July 9, 2014 /PRNewswire/ -- Lightlake Therapeutics Inc. ("Lightlake") (OTCQB: LLTP), a biopharmaceutical company developing addiction treatments based on its expertise in opioid antagonists, announced today that it has signed an agreement with a commercial contract manufacturer to commence production of its naloxone-based opioid overdose reversal treatment. Lightlake expects that this manufacturer will be able to provide sufficient manufacturing capacity at cGMP production facilities to enable commercialization of its treatment on a global scale.
Naloxone is an injectable medicine that can rapidly reverse the overdose of prescription and illicit opioids. Lightlake has been developing a needleless intranasal delivery system for the delivery of naloxone that could widely expand its availability and use in preventing opioid overdose deaths, a public health problem of epidemic proportion in the United States.
"This is a significant milestone for Lightlake in forwarding our opioid overdose reversal treatment," said Dr. Roger Crystal, CEO of Lightlake. "We have been diligent in selecting our partner for the contract manufacturing process to best position us to produce a high quality treatment that can meet the requirements for FDA approval. We are confident that working with this partner will help us better serve the market need for a needleless treatment and provide us with significant competitive advantages."
"We are very pleased with the high quality of our partner involved in the contract manufacturing process," said Kevin Pollack, CFO of Lightlake. "Our partner has the capacity to produce significant quantities of our intranasal naloxone spray at a reasonable cost, which could facilitate our scaling up production to address a growing population of potential users of our treatment and should save more lives."
About Lightlake Therapeutics Inc.
Lightlake Therapeutics Inc., a biopharmaceutical company, is using its expertise in opioid antagonists to build a platform of innovative intranasal naloxone solutions to common addictions and related disorders. Lightlake is developing a treatment to reverse opioid overdoses, which have reached epidemic proportions in the United States. Lightlake has successfully completed a clinical trial for this treatment in collaboration with the National Institute on Drug Abuse, part of the National Institutes of Health. Lightlake also has successfully completed a Phase II clinical trial to treat Binge Eating Disorder. For more information please visit: http://www.lightlaketherapeutics.com.
This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "projects," "potential," or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors. These and other factors may cause our actual results to differ materially from any forward-looking statement. We undertake no obligation to update any of the forward-looking statements after the date of this press release to conform those statements to reflect the occurrence of unanticipated events, except as required by applicable law.
Lightlake Therapeutics Inc.
Dr. Roger Crystal, CEO
+44(0)203 617 8739
Investor Relations Contact:
Booke and Company, Inc.
SOURCE Lightlake Therapeutics Inc.