Vancouver, Canada (August 25, 2020) - XPhyto Therapeutics Corp. (CSE:XPHY / OTCQB:XPHYF / FSE:4XT) (“XPhyto” or the “Company”), a next generation bioscience company, is pleased to announce an update on its transdermal delivery system (“TDS”) for the neurologic drug Rotigotine.
Further to the Company’s press release dated, June 8, 2020, regarding formula finalization, Vektor Pharma TF GmbH (“Vektor”), a wholly owned German subsidiary of XPhyto, has now completed process implementation for the manufacture of its Rotigotine patches. With process implementation complete, clinical sample manufacturing and analytical work will commence in Vektor’s EU GMP laboratory and manufacturing facility based in Baden-Württemberg, Germany. Human bioavailability studies in Europe are scheduled for Q3 2020 with results expected in Q4 2020. Updates to the Rotigotine drug delivery program will be provided periodically as it proceeds.
Rotigotine is a non-ergoline dopamine agonist approved for the treatment of Parkinson's disease (PD) and restless legs syndrome (RLS) in Europe and the United States. Rotigotine, the active pharmaceutical ingredient, is a generic “off-patent” drug that is typically formulated as a once-daily transdermal patch which provides a slow and constant supply of the drug over the course of 24 hours. Global and European sales of Rotigotine patches in 2019 were approximately $500MM and $250MM CAD respectively.
“Our goal is the commercialization of a low-cost Rotigotine patch with superior bioavailability and adhesion properties,” said Hugh Rogers, XPhyto’s CEO. “Incorporating Rotigotine into Vektor’s novel transdermal drug delivery system platform is a major accomplishment. With the formula locked and manufacturing soon to commence, we look forward to the upcoming clinical studies.”
About XPhyto Therapeutics Corp.
XPhyto is a diversified bioscience company with strategic assets and investments in the field of next generation drug delivery and rapid pathogen screening systems, as well as medical cannabis opportunities focused on European markets. Through its 100% owned subsidiaries and exclusive collaboration agreements, XPhyto is pursuing clinical programs for the transdermal and dissolvable oral delivery of conventional and cannabis based narcotics for neurological applications, as well as rapid dissolvable oral biosensor and lateral flow assay-based screening tests for dental health applications and high-risk pandemic threats such as SARS-COV-2 (COVID-19), H1N1 (swine flu) and H5N1 (avian flu). XPhyto has two exclusive cannabis collaborations with the Technical University of Munich, and two exclusive engagements with the University of Alberta, Faculty of Pharmacy and Pharmaceutical Sciences for cannabis extraction, isolation, formulation, and analytical testing.
ON BEHALF OF THE BOARD
Hugh Rogers, CEO and Director
Mr. Knox Henderson
Forward looking statements
This news release includes statements containing forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as “develop”, "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "propose" and other similar words, or statements that certain events or conditions "may" or "will" occur, and in this release include the statement regarding the Company's goal of building a successful diagnostic, drug delivery, and medical cannabis company. Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including: that the Company may not succeed in developing a commercial product; that the sale of products may not be a viable business; that the Company may be unable to scale its business; product liability risks; product regulatory risk; general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; currency risks; competition; international risks; and other risks beyond the Company's control. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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