Nexien BioPharma has acquired Princeton, New Jersey based CRx Bio Holdings LLC. CRx is engaged in the research and development of advanced cannabinoid therapeutic formulations with the objective of enhancing the bioavailability, pharmacokinetics, and pharmacodynamics of cannabinoids.
Nexien and CRx both share a common vision of developing cannabinoid based and FDA approved therapeutics to treat specific medical conditions. CRx has filed three U.S. provisional patent applications related to the treatment of convulsive disorders, chronic traumatic encephalopathy, and targeted pain disorders.
Nexien acquired CRx by issuing 11 million of the Company’s restricted common shares, of which 1.1 million were immediately granted, and the balance vest over a three-year period. CRx will operate as a wholly-owned subsidiary of Nexien.
In commenting on Nexien’s acquisition of CRx, Alain Bankier, Nexien’s executive chairman and chief strategy officer stated, “I am delighted that we will be integrating this remarkable team, as well as their group of highly accomplished scientific advisors, to our existing team. I am especially happy to note the complementarity of the skill sets that both teams bring, as well as the common research objectives for the patents and related indications that we are pursuing. In addition, I think that Alex is a remarkable entrepreneur and manager, and I look forward to working with him on a daily basis.”
Alex Wasyl, the newly-named CEO of Nexien also commented, “My team and I are very happy to be joining Nexien, and we look forward to an accelerated pace in research and development, supporting the combined visions of both companies as one unified entity. Moreover, the joint effort will help create and build upon much needed cannabinoid based FDA approved therapeutics.” He added, “With this combined management team, we are excited to emerge as a leader in the development of cannabinoid based therapeutics.”
Definition of Bioavailability, Pharmacokinetics, and Pharmacodynamics
Bioavailability is the proportion of a drug or other substance, which is able to enter circulation and target tissues, so as to exert an active effect.
Pharmacokinetics (“PK”) is the branch of pharmacology that relates to the movement of drugs within the body. Pharmacodynamics (“PD”) pertains to the effects of drugs and the mechanism of their action.
Cannabinoid molecules intrinsically have limited bioavailability. This negatively impacts the PK/PD profile of the molecules and results in many formulations being unsuitable as potential treatment options for many indications.
(Source: Nexien BioPharma, Inc.)