NEW YORK, Jan. 27, 2016 (GLOBE NEWSWIRE) -- Lightlake Therapeutics Inc. (“Lightlake”) (OTCQB:LLTP), a specialty pharmaceutical company developing pharmacological treatments for substance use, addiction, and eating disorders, announced today that Adapt Pharma Limited (“Adapt”), Lightlake’s commercial partner for NARCAN® Nasal Spray, has announced two national programs at the Clinton Health Matters Initiative Activation Summit to assist in efforts to address the growing risk of opioid overdose among American high school students.
Adapt will offer a free carton of NARCAN® (naloxone hydrochloride) Nasal Spray to all high schools in the U.S. through the state departments of education. This program will collaborate with the Clinton Health Matters Initiative, an initiative of the Clinton Foundation, as part of its work to scale naloxone access efforts nationally. In addition, Adapt has provided a grant to the National Association of School Nurses (NASN) to support their educational efforts concerning opioid overdose education materials.
Both programs build on Adapt’s recently announced initiative to facilitate affordable access to NARCAN® Nasal Spray. Earlier this month, Adapt, in partnership with the National Association of Counties, National Governors Association, National League of Cities and United States Conference of Mayors, announced it will offer NARCAN® Nasal Spray at a discounted public interest price through the U.S. Communities Purchasing Alliance and Premier, Inc. to over 62,000 state and local government agencies.
NARCAN® Nasal Spray is the only U.S. Food and Drug Administration (“FDA”) approved, ready-to-use, nasal spray version of naloxone hydrochloride, indicated for the emergency treatment of opioid overdose.
In December 2014, Lightlake announced a licensing deal with a subsidiary of Adapt. As per the terms of the deal, in exchange for licensing its opioid overdose reversal treatment, Lightlake could receive total potential milestone payments of more than $55 million, plus up to double-digit percentage royalties on net sales. The FDA approved NARCAN® Nasal Spray on November 18, 2015 and Lightlake received a $2.0 milestone payment from Adapt that was triggered by the FDA approval of NARCAN® Nasal Spray. Lightlake also expects to receive a $2.5 million milestone payment from Adapt after the prospective first commercial sale of NARCAN® Nasal Spray in the U.S.
Lightlake plans to focus on developing products for substance abuse, addictions, and eating disorders. Over the next year, Lightlake plans to bring the next generation of products into clinical trials.
Adapt Pharma Limited: http://www.adaptpharma.com/press-releases/
Indications and Important Safety Information: http://www.NarcanNasalSpray.com
About Lightlake Therapeutics Inc.
Lightlake Therapeutics Inc. is a specialty pharmaceutical company developing pharmacological treatments for substance use, addiction, and eating disorders. Lightlake has entered into a licensing deal with a subsidiary of Adapt Pharma Limited with respect to a treatment to reverse opioid overdoses, which have reached epidemic proportions in the United States. This treatment, NARCAN® Nasal Spray, was approved by the U.S. Food and Drug Administration in November 2015. Lightlake also has collaborated on clinical trials with the National Institute on Drug Abuse, part of the National Institutes of Health, with respect to this treatment. In addition, Lightlake has completed a Phase II clinical trial to treat Binge Eating Disorder, and has announced a Cocaine Use Disorder study in collaboration with the National Institute on Drug Abuse. For more information please visit: www.lightlaketherapeutics.com.
This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” or “continue” or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors. These and other factors may cause our actual results to differ materially from any forward-looking statement. We undertake no obligation to update any of the forward-looking statements after the date of this press release to conform those statements to reflect the occurrence of unanticipated events, except as required by applicable law.
Corporate Contact: Lightlake Therapeutics Inc. 445 Park Avenue, 9th Floor New York, NY 10022 Dr. Roger Crystal, CEO (212) 829-5546 email@example.com
Source:Lightlake Therapeutics Inc.