Under the Symbol:
Dthera Sciences Announces Exclusivity Period and Option Agreement for its Digital Therapeutic in the Japanese Market
Monday, February 25, 2019 7:59 AM
SAN DIEGO, CA / ACCESSWIRE / February 25, 2019 / Dthera™ Sciences (OTCQB: DTHR), a leading digital therapeutic company specialized in neurodegenerative diseases, is pleased to announce that it has entered into an exclusivity agreement with a company headquartered in Japan for development and commercialization rights to Dthera's lead product, DTHR-ALZ. The exclusivity agreement provides exclusive rights to the Japanese partner to perform feasibility studies in Japan and to negotiate a licensing agreement or other transaction for the Japanese market during the agreed term. In consideration for the exclusive review and negotiation period, the Japanese partner has paid Dthera a non-refundable cash payment.
DTHR-ALZ is a medical device that has been granted Breakthrough Device designation by the U.S. Food and Drug Administration (FDA) for the mitigation of the symptoms of agitation and depression associated with Alzheimer's disease. It features a customized computer tablet that digitally delivers an evidence-based behavioral intervention called Reminiscence Therapy to individuals with Alzheimer's disease. If granted approval by the FDA, DTHR-ALZ would become the first non-pharmacological prescription treatment for the symptoms of Alzheimer's disease, and the first FDA-approved therapeutic Alzheimer's product of any kind since 2003.
Alzheimer's disease is a significant healthcare challenge in Japan, the target market covered by the exclusivity agreement. Japan has a rapidly aging population with a high prevalence of Alzheimer's disease. The overall societal cost associated with dementia care in Japan was recently estimated to be more than $135 billion USD and, according to the Japan Health Ministry, 4.6 million people are suffering from some form of dementia, with the total expected to soar to about 7.3 million people, approximately one in five Japanese people aged 65 or over, by 2025.
"We look forward to supporting the feasibility studies by our potential partner in Japan and hope to establish a long-term relationship with them for this market," said Edward Cox, CEO of Dthera Sciences. "We believe that DTHR-ALZ can positively impact the lives of millions of individuals suffering from Alzheimer's disease in Japan, as well as their caregivers."
Dthera Sciences is actively pursuing strategic partnerships for the North American and European markets. Strategic partnerships provide the opportunity to deliver DTHR-ALZ to millions of underserved patients at scale, and to challenge the increasing burden of neurodegenerative diseases on patients, caregivers, and healthcare providers globally.
"The inbound interest from potential partners for our DTHR-ALZ product has been strong," continued Mr. Cox. "We remain active in discussions with other entities for development or commercialization rights in other territories."
About Dthera Sciences
Dthera Sciences (OTCQB: DTHR) is a leading digital therapeutic company specializing in neurodegenerative diseases. The San Diego based, publicly traded company is working to improve the lives of seniors and individuals suffering from neurodegenerative diseases, as well as those who care for them. Dthera is developing DTHR-ALZ, a medical device that has been granted Breakthrough Device designation by the FDA for the mitigation of the symptoms of agitation and depression associated with Alzheimer's disease. To the company's knowledge, DTHR-ALZ is the first product to receive Breakthrough Device designation for the treatment of Alzheimer's disease. If granted approval by the FDA, DTHR-ALZ would become the first non-pharmacological prescription treatment for the symptoms of Alzheimer's disease, and the first FDA-approved therapeutic Alzheimer's product of any kind since 2003. Please see www.dthera.com for more information.
Forward Looking Statement
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the research, development and commercialization of therapeutic products and technologies, as well as the Company's efforts to explore partnerships in various domestic and international markets. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of the statements made, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. These forward-looking statements are made as of the date of this press release, and the Company expressly disclaims any intention or obligation to update the
forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q, and other filings made with the SEC. Copies of these reports are available from the SEC's website at www.sec.gov or without charge from the Company.
Erica Sosnowski, MBA
VP Business Development
SOURCE: Dthera Sciences