Third Pole Therapeutics Announces Global Commercialization Agreement with Chiesi Group for Its Tankless, Portable Inhaled Nitric Oxide (iNO) Delivery System
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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, 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 and 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 Based in Parma, Italy, Chiesi Farmaceutici is an international research-oriented group with 85 years' experience in the pharmaceutical sector and it is present in 29 countries. The Group researches, develops and commercializes innovative medicines in the respiratory disease, special care and rare disease therapeutic areas. The Group's Research and Development center is based in Parma (Italy) and integrated with four other important research and development groups in France, the USA, the UK and Sweden, to promote its pre-clinical, clinical and registration programs. The Group employs nearly 6,000 people. Chiesi Group is a certified Benefit corporation. For more information, please visit www.chiesi.com
About Third Pole TherapeuticsThird Pole Therapeutics is developing transformative cardio-pulmonary therapies capable of expanding access to life-sustaining treatments worldwide. Third Pole's novel and portable iNO technology aims to eliminate the need for large compressed gas cylinders, with the potential to expand the application of iNO beyond acute care to patients at home. This could give patients access to iNO in previously underserved markets in the US and throughout the world that lack the infrastructure to transport, maintain, return and refill large cylinders of compressed gas.
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.
ContactsThird Pole TherapeuticsElizabeth HolmbergChief Financial Officer908-310-0596[email protected]
Media/Investor RelationsTiberend Strategic Advisors, Inc. Ingrid Mezo/Miriam Miller646-604-5150/ 212-375-2694 [email protected] [email protected]
SOURCE Third Pole Therapeutics
http://www.pole3.com
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