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.
Relevant Links
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.
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