Grünenthal and NovaQuest, a life science investment firm with a focus on biopharmaceuticals, are to advance the global clinical Phase III programme of Grünenthal’s asset resiniferatoxin (RTX).
The investigational medicine is being developed with the aim of providing patients suffering from pain associated with osteoarthritis with a well-tolerated, non-opioid therapy option that is intended to provide long-lasting pain relief and functional improvement of the affected joints.
Under the terms of the agreement, NovaQuest will reimburse Grünenthal’s investments into the clinical phase III programme of RTX and share the clinical development and approval risks with Grünenthal. In case of successful development and marketing approval, NovaQuest receives one-time payments or milestones and revenue-based payments over the course of the commercialisation.
