Braeburn Pharmaceuticals and Knight Therapeutics (TSE:GUD) said today that Health Canada has agreed to review Knight’s new drug submission for Probuphine, a buprenorphine subdermal implant designed to treat opioid drug dependence.
In February last year, Braeburn and Knight inked an exclusive distribution and sublicense deal, giving Knight the exclusive right to distribute Probuphine in Canada.
Braeburn’s Probuphine is a 6-month buprenorphine implant for the treatment of opioid addiction and is the 1st device of its kind to be approved by the FDA.
“Probuphine is a unique and innovative product that has the potential to address an important unmet need for opioid dependent patients,” Knight’s CEO Jonathan Ross Goodman said in prepared remarks. “With Probuphine, Knight is continuing to advance its portfolio of opioid supportive therapeutics, which includes Movantik, a product for opioid-induced constipation we in-licensed from AstraZeneca and began commercializing in March of this year.”
“Opioid addiction is an overwhelming public health epidemic in North America. This is another important milestone for Probuphine, an innovative treatment approach with the potential to reduce the risks of diversion, abuse and accidental pediatric exposure,” Braeburn president & CEO Mike Derkacz added. “We look forward to working with Knight and Health Canada to bring this important treatment option to Canadian patients.”