Virpax Pharmaceuticals Engages Destum Partners to Direct Strategic Global Partnering Efforts
Wednesday, January 11, 2023
Virpax® Pharmaceuticals, Inc., a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, today announced that the Company has engaged Destum Partners, Inc. to serve as the exclusive advisor for the Company's partnering and licensing efforts in strategic global markets. This initial engagement will encompass the Company’s two over-the-counter (OTC) product candidates, Epoladerm™, indicated for osteoarthritis pain, and AnQlar™, an intranasal mucosal viral barrier. Additionally, Destum Partners will work with Virpax on identifying a partner in the animal health market for its Rx product candidate, Probudur™, a long-acting local anesthetic indicated for postoperative pain management.
“We have engaged Destum Partners to lead our global strategic partnering and licensing efforts for our two potential OTC product candidates as well as supporting Virpax in the animal health care market for Probudur,” stated Anthony Mack, Chairman and CEO of Virpax. “While we have continued to pursue potential transactions with pharmaceutical companies for all of these product candidates, we believe that to maximize value for the Company and our shareholders we would be best served by partnering with a firm that has this type of transactional experience.”
“Virpax is developing exciting innovative and proprietary drug-delivery systems across various pain and CNS disorder indications as well as a product candidate intended as a viral barrier for Covid and influenza. We look forward to working alongside the Virpax team in developing, partnering and licensing opportunities for what we believe to be a strong pipeline of drug product candidates,” commented Matthew Vanderberg, Managing Director and Partner at Destum Partners.
