Encinitas-based Neurelis Inc. entered an agreement with Biotie Therapies Corp. to end the option held by Biotie to purchase Neurelis, clearing the way for Neurelis to commence further development of intranasal diazepam (NRL-1) for pediatric and adult epilepsy patients who experience acute repetitive seizures.
Over the past year, Biotie has advanced the development program for NRL-1 and worked with Neurelis in preparation for the pivotal clinical work required for new drug application submission to the FDA. Given the need to address other development priorities, Biotie has now decided not to pursue continued development of NRL-1.
Under the terms of the agreement between Biotie and Neurelis, Biotie will have the opportunity to participate in the future success of NRL-1 and recoup the significant investment in the development of the program.
"The NRL-1 program has progressed significantly over the past year, benefiting from Biotie's development expertise," said Craig Chambliss, president and CEO of Neurelis. "Neurelis is now prepared to complete the development program and the clinical trials requested for submission to the FDA. Most importantly, we are committed to bringing NRL-1 to the epilepsy community and the patients who may benefit from this novel therapy."