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SEEK announces new joint venture entity with Pernix Therapeutics for antitussive drug development

August 04, 2017

Manfred Scheske, who has recently joined SEEK as CEO of Consumer Health, will provide leadership and direction to the development of BC1036. Scheske was formerly President of Consumer Healthcare Europe at GlaxoSmithKline ("GSK"), where he enjoyed a highly successful 25-year career with GSK in Europe, North America and at a global level within GSK's Consumer Healthcare Leadership Team.

Commenting on this announcement, Manfred Scheske, CEO of Consumer Health at SEEK, said: "I am very excited that we have funding for the late-stage development of BC1036, which has the potential to dramatically impact the treatment of persistent cough and could greatly benefit the quality of life of persistent cough sufferers. Utilising my extensive US and European experience from GSK, I am very much looking forward to taking this programme forward towards commercialisation and to announcing the commencement of our regulatory programme in the US and Europe next year."

Cooper Collins, President and CEO of Pernix, said: "This partnership is an exciting step forward in the growth of our company and provides an opportunity to increase our share of the approximately $3 billion global market for prescription and OTC cough suppressants while strengthening our existing portfolio of branded products for upper respiratory ailments in pediatrics. By partnering with SEEK, we are able to advance this novel codeine-free natural cough suppressant in a more cost-effective and lower risk regulatory path, which is consistent with our strategy for identifying potential new products. Given the lack of new treatments for persistent cough over the last two decades, we believe that our non-opiate antitussive medicine offers an innovative alternative treatment for persistent cough sufferers and look forward to working with SEEK to advance the development of BC1036 through commercialization in Europe and the U.S."

SOURCE SEEK