VistaGen Therapeutics acquires license, worldwide rights to PH10 from Pherin
VistaGen Therapeutics announced that the company has exercised its option to acquire from Pherin Pharmaceuticals the exclusive license for worldwide rights to develop and commercialize PH10, a first-in-class, intranasally administered neuroactive steroid, with rapid-onset antidepressant effects for treatment of major depressive disorder, or MDD, demonstrated in a phase 2a study. The company secured the option for PH10 concurrently with its previously announced license agreement with Pherin for worldwide rights to develop and commercialize PH94B, also a first-in-class neuroactive pherine, which VistaGen is preparing for pivotal Phase 3 development as a nasal spray for acute on-demand treatment of social anxiety disorder, or SAD. PH10 activates nasal chemosensory receptors that in turn engage GABA and CRH neurons in the limbic amygdala system. The activation of these neural circuits is believed to have the potential to lead to a rapid antidepressant effect. In connection with the consummation of the license and option agreements, VistaGen issued to Pherin $2M of its unregistered common stock.