Purdue Pharma LP, the Connecticut-based maker of OxyContin, has entered an agreement for an exclusive option to acquire Minnesota-based drug developer SpineThera in a deal intended to broaden Purdue's pain treatments to include a long-lasting non-opioid drug.
SpineThera, based in Plymouth, is developing a compound known a SX600, which is designed to create long-lasting pain relief for low back pain through epidural injection. The treatment has been touted as an alternative to addictive opioid drugs.
The two privately held companies didn't release details of the deal, including price, timing, or closing conditions. The safety and tolerability of SX600 will be evaluated through a clinical development program at SpineThera next year.
The active ingredient in SX600 is the corticosteroid dexamethasone acetate, which is commonly used in epidural injections. But SpineThera is formulating the drug in an injectable micro-suspension that includes microspheres filled with the drug. The spheres, smaller than red blood cells, naturally biodegrade to release the drug gradually over time.
"We are committed to alleviating pain through new and innovative non-opioid medicines," said Dr. Craig Landau, president of OxyContin maker Purdue Pharma, in an announcement. "SX600 represents an exciting opportunity to meet this important medical need and advance our mission."
