Seelos Therapeutics Inc (NASDAQ: SEEL) is headed for the top in the market this morning, and for good reason. The company announced that it has entered into a strategic device partnership, which could open the door to opportunities. Here’s what’s going on:
Seelos Therapeutics Announces Strategic Partnership
In the press release, Seelos said that it entered into an agreement with AptarGroup, Inc. (NYSE: ATR). The agreement surrounds the exclusive use and supply of Aptar Pharma’s Bidose (BDS) Liquid System device.
In the release, Seelos said it plans on using this device for its intranasal ketamine product candidate, known as SLS-002. The treatment is being developed as a potential option to treat depression, Post-Traumatic Stress Disorder, and suicidality.
As part of the agreement, Seelos said it has certain rights to add other undisclosed indications to the Strategic Device Partnership.
The company went on to explain that Aptar’s patented BDS Liquid System has been approved by the FDA and EMA for the delivery of other therapeutics. In fact, to date, millions of the Bidose and Unidose Systems have been sold and are used daily around the world.
Ideal for intranasal therapies like SLS-002, the BDS Liquid System provides precise delivery of active CNS drug formulations. Moreover, it is ready-to-use, requiring no priming or shaking, making the device ideal for use in a crisis situation.
In a statement, Raj Mehra Ph.D., Chairman and CEO at Seelos, had the following to offer:
Aptar is a world-class organization and has been an integral partner for our intranasal ketamine program since our inception. This partnership strengthens the collaboration between Seelos and Aptar, and further protects the SLS-002 franchise.
The Bottom Line
The bottom line here is simple, SLS-002 has the potential to be a blockbuster therapeutic option should it make it through regulatory approval. Now, with this new delivery method on the table, there’s even more of a chance that the product will be a hit. All in all, if you’re not watching SEEL stock yet, you’re missing out.