Melior Pharmaceuticals Announces Intent to Acquire Armesocarb

Melior Pharmaceutical

EXTON, PA — Melior Pharmaceuticals announced that it has signed a “letter of intent” with Adhera Therapeutics, Inc . (OTCPK: ATRX) for the acquisition of Melior’s Parkinson’s disease (PD) candidate, MLR-1019 (armesocarb).

As with all of Melior’s drug candidates, MLR-1019 is a repositioned drug that has demonstrated safety and tolerability in previous clinical studies.

Melior has uncovered a previously unreported therapeutic potential of MLR-1019 in PD. As such it represents a new class of PD therapeutic which may be the only drug candidate to address both movement and non-movement aspects of PD. Based upon Melior’s thorough understanding of the drug’s mechanism, an accumulation of a substantial amount of PD animal model data, as well as anecdotes from previous clinical use of the drug, Melior has built confidence in the drug’s utility in benefiting multiple aspects of PD.

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Under the terms of the intended deal Melior will acquire shares of Adhera stock as well as royalties on product revenues.

“We are thrilled to be working with the Adhera team and are pleased that they share our vision for the product potential of armesocarb and the streamlined clinical development path, based upon the product’s history, that we have developed,” said Dr. Andrew Reaume, CEO of Melior.

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