NEW YORK, Oct. 17, 2016 /PRNewswire/ -- Immune Pharmaceuticals Inc. (NASDAQ: IMNP) ("Immune") announced today that it has entered into a consulting agreement with Joseph V. Pergolizzi Jr., MD. Dr. Pergolizzi will form an operational management team, a Scientific Advisory Board, and a Board of Directors for Maxim Pharmaceuticals ("Maxim"), Immune's pain and neurology subsidiary, in order to advance the development of Amiket®. Maxim holds the rights to AmiKet, AmiKet NanoTM, and LidoPain® and will seek additional pain and neurology assets, preferably with 505(b)(2) development path possibilities.
Dr. Pergolizzi commented: "There is a significant unmet medical need in the treatment of peripheral neuropathic pain. AmiKet, a topical, may be able to match the efficacy of certain oral drugs, with a convenient and potentially safer administration. I intend to bring to Maxim, with the active support of Immune's CEO, Dr. Daniel Teper, a world class management team with experience in development and commercialization of pain and neurology drugs."
Dr. Pergolizzi is the co-founder and Chief Operating Officer of NEMA Research, a Clinical Research Organization, and president of Naples Anesthesia and Pain Associates of Naples, Florida. He has also held Chief Medical Officer positions at several pharmaceutical companies.
Dr. Pergolizzi's research interests focus on acute and chronic pain in adults with a particular focus on pain in the elderly. Dr. Pergolizzi has held positions including the co- founder and chairman of the board for the Association of Chronic Pain Patients, a member of the board of directors and treasurer for the Coalition for Pain Education (COPE), co- founder and director of research at the International Pain Research and Treatment Foundation, and a member of the board of directors of the National Institute of Pain. He is also chairman of the Abstract and Poster Selection Committee for PAINWeek and a member of the CHANGE PAIN Board.
AmiKet has completed phase 2 clinical trials in over 1,000 patients. In those studies, it has demonstrated comparable efficacy to oral gabapentin, the standard of care in the treatment of post herpetic neuralgia, a form of neuropathic pain. AmiKet is also developed for diabetic peripheral neuropathic pain and chemotherapy-induced neuropathic pain. A novel formulation, AmiKet Nano, may provide additional clinical benefits as well as extended patent exclusivity.
Immune has transferred AmiKet to Maxim in exchange for an equity position valued initially $15 Million and milestones of up to $145 Million as well as royalties on future sales.
About Immune Pharmaceuticals Inc.:
Immune Pharmaceuticals Inc. (NASDAQ: IMNP) applies a personalized approach to treating and developing novel, highly targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer. Immune's lead product candidate, bertilimumab, is in Phase II clinical development for moderate-to-severe ulcerative colitis as well as for bullous pemphigoid, an orphan autoimmune dermatological condition. Other indications being considered for development include atopic dermatitis, Crohn's disease, severe asthma, and Non-Alcoholic Steato-Hepatitis (NASH), an inflammatory liver disease. Immune recently expanded its portfolio in immuno-dermatology with topical nano-formulated cyclosporine-A for the treatment of psoriasis and atopic dermatitis. Immune's oncology pipeline includes Ceplene® which is in late stage clinical development for maintenance remission in Acute Myeloid Leukemia (AML) in combination with IL-2. Additional products in the oncology pipeline include Azixa® and crolibulin, Phase II clinical stage vascular disrupting agents, and novel technology platforms; bispecific antibodies and NanomAbsTM. Maxim Pharmaceuticals Inc., Immune's pain and neurology subsidiary, is developing AmiKet and AmiKet Nano for the treatment of neuropathic pain. For more information, visit Immune's website at www.immunepharma.com, the content of which is not a part of this press release.
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SOURCE Immune Pharmaceuticals Inc.