https://sudapharma.com/wp-content/uploads/2020/07/SUDA.pdfSUDA...

https://sudapharma.com/wp-content/uploads/2020/07/SUDA.pdf

SUDA [ASX:SUD], an Australian drug delivery technology company, is
continuing its search to acquire or license technologies that are
complementary to its platform, said CEO Michael Baker.
In June, the company announced a trading halt pending a capital
raising and a material licensing deal for a cancer therapy technology
from a leading US cancer research institute but did not go ahead due
to potential complications with resuming trading if the deal was to
proceed, Baker said.

It is now continuing its search for a more suitable deal and will
consider acquiring or licensing life sciences technologies that it can
add to its pipeline, including products that it can repurpose into oral
sprays or products that are complementary to its current portfolio of
cancer and central nervous system treatments such as immunooncology assets or medications for migraine and insomnia, he said.
It is looking for deals globally but is especially seeing potential
opportunities in the US, Europe and Australia and welcomes
approaches from advisors with suggestions, Baker added.

Funds from its current AUD 3.56m (USD 2.6m) capital raising via an
entitlement offer to existing shareholders, which closes this Thursday
(29 July), will be used to finance deals as well as for further
development of its pipeline, as announced.
SUDA uses its novel permeation enhancing OroMist technology
platform to reformulate existing medications into oral sprays. It also
has partnerships with pharma companies to reformulate their
products including Sanofi [EPA:SAN] and Spain’s Laboratorios
Ordesa, Baker said.

SUDA’s pipeline includes its lead asset ZolpiMist for insomnia, which is
awaiting a decision from the Australian Therapeutic Goods
Administration (TGA) in 4Q this year and which secured a partnership
with Mitsubishi Tanabe Pharma Korea in March this year, adding to
previous partnerships with Mitsubishi Tanabe Pharma
Singapore and Teva [TLV:TEVA].

SUDA has continued to do deals to realise its potential and has
continued research activities despite the novel coronavirus (COVID19) pandemic, Baker said, citing as an example the Mitsubishi Tanabe
Pharma Korea deal in March and its continuing hunt for
complementary technologies.

Other companies developing alternative oral drug delivery solutions
include GW Pharma [NASDAQ:GWPH] and Medlab (ASX:MDC), but
SUDA differentiates itself in that it uses hydrotrope compounds, its
platform is applicable to a wide range of drug classes, and it is
developing products that have already been approved and can
leverage the US Food and Drug Administration’s (FDA) 505 (b)(2) to
accelerate the pathway to approval, said Baker, who has extensive
experience in commercializing technologies and came on board as
CEO in January 2020.

According to Global Newswire, the pharmaceutical drug delivery
industry was valued at USD 1bn in 2019 and is expected to reach USD
2bn by 2026. Less than 25% of medications via pills, tablets or capsules
are absorbed into the bloodstream, with SUDA having demonstrated
that its oral sprays can increase absorption of some drugs by more
than 90%, Baker noted.
Global life science research group Edison Research, in a report earlier
this month, valued SUDA at AUD 18m based on ZolpiMist only and the
territories for which it has licence agreements, namely Brazil, Chile,
Mexico, the Philippines, Singapore, Malaysia and South Korea. SUDA’s
current market cap is AUD 4m.
by Louise Weihart in Sydney

Published by Acuris Mergermarket, an ION Group company