Agreement Will Significantly Expand Patient Access to Therapeutic iNO Beyond the Existing $800M+ Global Hospital Market
| WALTHAM, Mass., April 8, 2020 /PRNewswire/ -- Third Pole Therapeutics, a privately held company developing and delivering critical life-sustaining cardio-pulmonary therapies, announced it has entered into a global license, development and commercialization agreement with Chiesi Farmaceutici SpA, an international research-focused pharmaceutical group (Chiesi Group). Chiesi Group is a specialty pharmaceutical company headquartered in Parma, Italy, that develops and commercializes products for the hospital, rare disease and adjacent specialty care settings. Under the terms of the agreement, Third Pole grants Chiesi Group the right to commercialize Third Pole’s investigational tankless inhaled Nitric Oxide (iNO) delivery system for the proposed treatment of babies born with hypoxic respiratory failure that are under treatment in the neonatal intensive care setting. This landmark partnership provides significant strategic advantages for both companies in anticipation of FDA submission and approval of Third Pole’s product. Bill Athenson, Third Pole’s CEO, said, “Chiesi’s essential, high quality products, and its sales and marketing team’s respected presence in nearly every neonatal intensive care unit will facilitate rapid early adoption of Third Pole’s device, a tankless platform that generates iNO in unlimited quantities by combining room air with electricity. The combination of tankless portable technology and Chiesi Group’s global reach could dramatically expand access to life-sustaining iNO and fulfill a very large and long-standing unmet worldwide need.” “This partnership is a concrete demonstration of Chiesi’s continuous commitment to embrace state-of-the-art technologies, with the aim of providing patients and their caregivers with innovative solutions to improve their quality of life,” said Giovanna Amadori, Chiesi Group’s Global Strategy & Corporate Development Head. “When approved, Third Pole will offer a truly tankless and reagent free solution for iNO delivery.” Third Pole’s innovative technology is a great fit for Chiesi Group’s strategic commitment to the neonatology therapeutic area and its global presence in the NICU (Neonatal Intensive Care Unit). About Chiesi Group About Third Pole Therapeutics The company’s novel and portable technology eliminates the need for large compressed gas cylinders by generating Nitric Oxide (NO) at the point of care, utilizing air and electricity. NO is a selective pulmonary vasodilator that has been approved by FDA for the treatment of hypoxic respiratory failure in newborn infants. Third Pole’s versatile technology has the potential to provide clinicians with flexible and innovative solutions in therapeutic fields beyond hypoxic respiratory failure, including pulmonary hypertension, interstitial lung disease, chronic obstructive pulmonary disease, cystic fibrosis, and critical viral and bacterial infectious disease management, in both the hospital and home settings. In addition to applying its core technology to multiple therapeutic applications, the Company is forging high impact strategic partnerships to expedite the global launch of iNO therapy delivery systems to patients in multiple settings outside the hospital. For more information, please visit www.pole3.com. Contacts Media/Investor Relations SOURCE Third Pole Therapeutics |
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