Altus Formulation and Spektar Join Forces in New Specialty Company Spektus Pharma
New company develops value-added medicines in the CNS space for global partnering
MONTREAL and DUBAI, United Arab Emirates, June 18, 2024 (GLOBE NEWSWIRE) — Spektar Therapeutics FZCO (“Spektar”) and Altus Formulation Inc. (“Altus”) today announced the launch of Spektus Pharma Inc. a new Canadian specialty pharma company developing patent-protected value-added medicines for the growing CNS segment.
Focusing first on the psychiatry space, the new company combines the commercial acumen of Spektar with the pharmaceutical expertise of Altus to generate a portfolio of novel and differentiated therapies that address the unmet needs of different patient segments. Each new product leverages Flexitab breakable extended-release technology to provide clinically meaningful benefits to the patient backed by new label claims. Supported by robust patents, Spektus products are designed to meet the commercial challenges facing global markets today while addressing the competing demands of patients, healthcare providers and payers. Spektus products are commercialized via regional licensing agreements with leading pharma companies around the world.
Dr. Damon Smith, CEO Altus Formulation, said: After working with Spektar for a number of very successful years, we’re delighted to combine our skill sets with theirs to form this exciting new venture. By doing so, the new company can provide fully developed, de-risked cost-effective products to global partners.
Mr. Zarvaan Merchant, CEO Spektar Therapeutics, said: The Flexitab platform has tremendous potential to improve the delivery of existing drugs in the CNS segment and beyond. We are excited to join hands with our partners at Altus to deliver a portfolio of value-added medicines that serve the needs of patients with serious mental health challenges.
About Altus:
Altus Formulation is a Quebec-based drug formulation and development company using proprietary, patent-protected drug delivery technologies to generate novel formulations of well-established molecules. With a focus on Safer to Use™ formulations, Altus’ technologies include Intellitab™ abuse deterrent technology for generic opioid formulation development, Flexitab™ breakable extended release tablets, MicroSpheres+ MUPs technology and SmartCelle™ micellar technologies for intravenous and ocular delivery of low solubility molecules. For more information, visit www.altusdrugdevelopment.com.
About Spektar:
Spektar Therapeutics is a UAE-based company focused on the licensing and co-development of value-added medicines in the CNS segment. Spektar is committed to partnering with leading contract research and manufacturing partners across the globe to deliver patented formulations of existing drugs that offer clinically meaningful benefits to patients and caregivers. To learn more, visit www.spektartx.com.
Contact:
Beth Hickey
+1514 779-8210
bhickey@altusdrugdevelopment.com
