Adare, Cincinnati Children’s partner on innovation fund
Adare Pharmaceuticals and the Cincinnati Children’s Hospital Medical Center are partnering on an innovation fund that will focus on optimizing and reformulating medicines to better meet the needs of children.
The collaboration leverages the experience of Cincinnati Children’s, a leading pediatric research and clinical care center, with New Jersey-based Adare’s expertise in providing enhanced medicines that create new possibilities for improved patient care.
“We have a strong track record of identifying opportunities to transform medicines that provide new options for patients, including those for the pediatric population,” said Adare President and CEO John Fraher. “Collaborations like these drive innovation, and we look forward to working with Cincinnati Children’s to bring better options to infants and children, who have a special set of needs.”
“We are pleased to partner with Adare Pharmaceuticals, a leader in drug development and optimization to identify and advance improved treatments for our patients,” said Margaret Hostetter, M.D., chair of pediatrics and director at the Cincinnati Children’s Research Foundation.
The Adare Drug Optimization and Repurposing Innovation Fund is part of Cincinnati Children’s broader initiative, which sponsors research projects across all therapeutic areas and types of technology. The goal of Adare’s fund is to support projects that have the potential to bring new formulations of medicines to children, including making them easier to administer. Adare has successfully developed alternative dosage forms for the pediatric population that are on the market. Those include ZENPEP for the treatment of exocrine pancreatic insufficiency due to cystic fibrosis or other conditions, and VIREAD for the treatment of HIV-1 infection, as part of a combination therapy.
Under the terms of the agreement, Adare will have the opportunity to sponsor select research programs submitted to Cincinnati Children’s innovation fund, with members of Adare being part of the review committee. The selected research programs will receive funding commensurate with development needs, based on projects reaching specific milestones. Following the completion of the research programs, Adare will have an exclusive option to enter into a licensing agreement for those programs.
Upon entering into any subsequent licensing agreement, Cincinnati Children’s will be eligible to receive certain milestone payments, as well as royalties on Adare’s product sales. Adare will have the primary responsibility for further clinical development and commercialization of products arising from the collaboration. The partnership and innovation fund are managed by Cincinnati Children’s Center for Technology Commercialization.