SUDA Pharmaceuticals Ltd (ASX: SUD), a leader in oro-mucosal drug delivery, advises that Mitsubishi Tanabe Pharma Singapore Pte Ltd (MTPS) have indicated their intention not to proceed with the License and Supply Agreement for ZolpiMist.
MTPS cited a change in business strategy across the ASEAN region as their primary reason not to proceed with the License and Supply agreement. SUDA has agreed to terminate the Agreement and the Company notes that there is no immediate impact on revenue streams.
SUDA will continue to focus on the remaining partnerships it has in place for ZolpiMist, look to secure additional partners for the ASEAN region and other territories and continue to source and evaluate additional technologies for potential acquisition that align with the Company’s areas of focus, oncology and the central nervous system.
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