MAGNOLIA, Texas & LONDON--(BUSINESS WIRE)--Pernix™ Therapeutics Holdings, Inc. (NYSE Amex: PTX), a specialty pharmaceutical company primarily focused on the pediatric market, and SEEK, a leading UK privately-owned drug-discovery group, today announced that they have engaged J.P. Morgan to auction the theobromine assets of the joint venture. The auction will be for the global commercialization rights (excluding Korea) of theobromine. The decision to conduct an auction is based on the interest shown within the pharmaceutical industry for theobromine (BC1036), an antitussive drug candidate in late-stage development that addresses the significant need for a non-opioid, non-codeine treatment for persistent cough.
