Hamilton, Bermuda, Nov. 30, 2022 (GLOBE NEWSWIRE) --
- Initiative is Nuance’s first step in penetrating Chinese market with BentrioTM
- Densely populated Hong Kong (7.3 million) remains negatively impacted by COVID-19
- Nuance Pharma to file for marketing approval in Macao, Mainland China and South Korea in 2023
Altamira Therapeutics Ltd. (NASDAQ: CYTO), a company dedicated to developing therapeutics that address important unmet medical needs, today announced that its licensee and distribution partner Nuance Pharma has launched its Bentrio nasal spray in Hong Kong.
Bentrio is being marketed in Hong Kong to help with protection against both airborne viruses as well as allergens. Hong Kong has a population of about 7.3 million people that lives in an area of just 1,104 square kilometers making it one of the most densely populated places in the world.
Earlier this year, the Company entered into an exclusive Bentrio license and distribution agreement with Nuance covering Mainland China, Hong Kong, Macao and South Korea that included an upfront payment made to Altamira of $1 million, plus future development and commercial milestones of up to $3 million, and up to $19.5 million, respectively. Upon reaching certain milestones, Nuance will assume local production of Bentrio for its licensed territory and pay to Altamira a staggered royalty at a high-single to low-double digit percentage.
“We are very excited to see our partner Nuance Pharma take the first step in bringing Bentrio to the promising Chinese market,” commented Thomas Meyer, Altamira’s founder, Chairman and CEO. “Daily life in Hong Kong continues to be negatively impacted by COVID-19. We believe that Bentrio, with its triple mode of action, offers a safe and effective means to strengthen protection against harmful airborne particles. We look forward to working together with Nuance Pharma in requesting marketing approval for Bentrio in Macao, Mainland China and South Korea in 2023.”
About Nuance Pharma
Nuance Pharma is a patient-centric and innovation focused biopharmaceutical company, with both clinical and commercial stage assets. Founded by Mark Lotter in 2014, with the mission to address critical unmet medical needs in Greater China and Asia Pacific, Nuance has built a late clinical stage innovative portfolio, while maintaining a self-sustainable commercial operation. Focusing on specialty care, Nuance's portfolio represents a differentiated combination of commercial stage and innovative pipeline assets across respiratory, emergency care, and iron deficiency anemia. For more information, visit: https://www.nuancepharma.com/
About Bentrio™
AM-301, marketed as Bentrio™, is a drug-free nasal spray for personal protection against airborne viruses and allergens. Upon application into the nose, Bentrio™ forms a protective gel layer on the nasal mucosa. This thin film is designed to prevent the contact of viruses or allergens with cells; in addition, the composition serves to bind such particles and help with their discharge and to humidify the nasal mucosa. Together, this is designed to reduce the risk of upper respiratory tract viral infections and promote alleviation of allergic symptoms. For more info, visit: https://altamiratherapeutics.com/our-products/bentrio.
Bentrio™ is being distributed in selected European countries and is expected to become available through distributors in further countries in Europe, Asia and MENA. In the US, Altamira submitted a 510(k) application of Bentrio™ in the treatment of allergic rhinitis, which is currently under review by the FDA.
About Altamira Therapeutics
Altamira Therapeutics (NASDAQ:CYTO) is dedicated to developing therapeutics that address important unmet medical needs. The Company is currently active in three areas: the development of RNA therapeutics for extrahepatic therapeutic targets (OligoPhore™ / SemaPhore™ platforms; preclinical stage), nasal sprays for protection against airborne allergens and, where approved, viruses (Bentrio™; commercial) or for the treatment of vertigo (AM-125; post Phase 2), and the development of therapeutics for intratympanic treatment of tinnitus or hearing loss (Keyzilen® and Sonsuvi®; Phase 3). Founded in 2003, it is headquartered in Hamilton, Bermuda, with its main operations in Basel, Switzerland. For more information, visit: https://altamiratherapeutics.com/
Forward-Looking Statements
This press release may contain statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Altamira Therapeutics' strategies or expectations. In some cases, you can identify these statements by forward-looking words such as "may", "might", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "projects", "potential", "outlook" or "continue", or the negative of these terms or other comparable terminology. Forward-looking statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include, but are not limited to, the effect of the reverse split on Altamira’s stock price and compliance with Nasdaq listing requirements, the closing of the initial sale of Zilentin, the exercise by Zilentin of its option to purchase additional legacy assets, the achievement by Altamira of the milestones set forth in the option agreement, Altamira’s ability to complete a divestiture transaction of Bentrio, Altamira Therapeutics' need for and ability to raise substantial additional funding to continue the development of its product candidates, the timing and conduct of clinical trials of Altamira Therapeutics' product candidates, the clinical utility of Altamira Therapeutics' product candidates, the timing or likelihood of regulatory filings and approvals, Altamira Therapeutics' intellectual property position and Altamira Therapeutics' financial position, including the impact of any future acquisitions, dispositions, partnerships, license transactions or changes to Altamira Therapeutics' capital structure, including future securities offerings. These risks and uncertainties also include, but are not limited to, those described under the caption "Risk Factors" in Altamira Therapeutics' Report on Form 6-K for the six months ended June 30, 2022, and in Altamira Therapeutics' other filings with the SEC, which are available free of charge on the Securities Exchange Commission's website at: www.sec.gov Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Altamira Therapeutics or to persons acting on behalf of Altamira Therapeutics are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Altamira Therapeutics does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.
