MONTREAL, April 12, 2019 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (GUD.TO) ("Knight"), a Canadian specialty pharmaceutical company, is pleased to announce that PROBUPHINE™, a new treatment in the fight against opioid addiction, is now being implanted in patients across the country.
Approved by Health Canada in April 2018, PROBUPHINE™ is the only subdermal implant designed to deliver buprenorphine continuously for 6 months following a single treatment. The product must be inserted and removed by a healthcare professional who has successfully completed a live training program, the PROBUPHINE Education Program.
Knight has the exclusive right to distribute PROBUPHINE™ in Canada under a license agreement with Titan Pharmaceuticals, Inc. (TTNP).
“Probuphine provides a unique new option in the treatment of opioid abuse, one that overcomes the barriers of daily adherence and multiple pharmacy and clinic visits,” said Dr. Ken Lee, London site lead and head physician at the Rapid Access Addiction Medicine (RAAM) Clinic.
Knight CEO Jonathan Ross Goodman added: “We are pleased to see health care professionals from the Maritimes to British Columbia completing our live training program and providing access to PROBUPHINE across the country. Opioid addiction in Canada continues to be a devastating public health crisis and we are proud to be at the forefront of helping improve the lives of those in need."
Knight welcomes growing shareholder and analyst support as it continues its engagement in advance of the 2019 Annual Meeting of Shareholders on May 7, 2019. Most recently, it welcomes the support of National Bank of Canada Financial Markets which hosted a series of investor meetings over the past week. Knight discussed its vision and plans to expand its portfolio of products, approach to expanding geographical reach in Canada and rest of the world, and management’s intent following the AGM to explore strategies to return capital to shareholders with a preference for share buybacks versus dividends.
PROBUPHINE™ is the only subdermal implant designed to deliver buprenorphine continuously for 6 months following a single treatment. PROBUPHINE™ was developed using ProNeura™, a continuous drug delivery system developed by Titan Pharmaceuticals Inc. and consists of a small, solid implant made from a mixture of ethylene-vinyl acetate (EVA) and buprenorphine. Four implants are inserted subdermally in the inner side of the patient's upper arm by a healthcare professional through an in-office procedure and removed in a similar manner at the end of the treatment period. PROBUPHINE™ must be inserted and removed by a healthcare professional who has successfully completed a live training program, the PROBUPHINE™ Education Program. Knight Therapeutics Inc. obtained Health Canada approval for PROBUPHINE™ in April 2018, the first buprenorphine implant for the long-term maintenance treatment of opioid addiction.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.’s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company’s web site at www.gud-knight.com or www.sedar.com.
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2018. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.
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