MONTREAL, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX:GUD) ("Knight"), a leading Canadian specialty pharmaceutical company, announced today the commercial availability of PROBUPHINE™ (buprenorphine hydrochloride subdermal implant), for the management of opioid dependence in patients clinically stabilized on no more than 8 mg of sublingual buprenorphine in combination with counseling and psychosocial support1. Knight has the exclusive right to distribute PROBUPHINE in Canada under a license agreement with Titan Pharmaceuticals, Inc. (NASDAQ:TTNP).

“Probuphine offers new hope for those struggling with the issues of compliance, burden and stigmatization that often accompanies opioid dependence,” said Jonathan Ross Goodman, Chief Executive Officer of Knight. “This is a devastating public health crisis and we are proud to be at the forefront of helping improve the lives of those in need.” 

"The approval of Probuphine by Health Canada earlier this year was a milestone and we look forward to supporting our partner Knight Therapeutics in this next phase," said Titan President and CEO Sunil Bhonsle. "The commercial launch of Probuphine provides the Canadian medical community with a novel, long-term treatment alternative that can provide benefits to many patients suffering from this disease."

About PROBUPHINE™

PROBUPHINE™ is the only subdermal implant designed to deliver buprenorphine continuously for 6 months following a single treatment. PROBUPHINE™ was developed using ProNeura™, a continuous drug delivery system developed by Titan Pharmaceuticals Inc. and consists of a small, solid implant made from a mixture of ethylene-vinyl acetate (EVA) and buprenorphine. Four implants are inserted subdermally in the inner side of the patient’s upper arm by a healthcare professional through an in-office procedure and removed in a similar manner at the end of the treatment period.  PROBUPHINE™ must be inserted and removed by a healthcare professional who has successfully completed a live training program, the PROBUPHINE Education Program.  Knight Therapeutics Inc. obtained Health Canada approval for PROBUPHINE™ in April 2018, the first buprenorphine implant for the long-term maintenance treatment of opioid addiction.

About Knight Therapeutics Inc.

Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.gudknight.com or www.sedar.com.

Forward-Looking Statement

This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements.

Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2017. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.

For further information, please contact:

Knight Therapeutics Inc.
Samira Sakhia
President and Chief Financial Officer
Tel: 514-678-8930
Fax: 514-481-4116
Email: info@gudknight.com 
Website: www.gudknight.com 

For product and/or live training inquiries, please contact:

Tel: 1 844 483 5636
Email: medinfo@gudknight.com 

References

  1. PROBUPHINE™ Product Monograph, Buprenorphine hydrochloride implant, Subdermal implant, 80 mg, Partial Opioid Agonist, April 18, 2018.