Ault Global Holdings Inc (NYSE: DPW) announced it has arrived into a securities acquisition contract to buy up to 40% of the present equity in Adtech Pharma, Inc. for $3 million.
Adtech is an advanced biotech company that has developed a fresh preparation of sole-sourced artificial cannabinoid therapeutics aiming at glaucoma. Adtech considers an international bazaar of over $4 billion in yearly sales for glaucoma eye drop therapeutics.
Adtech features a veteran administration side
Robert Kupper, Ph.D., is Adtech’s President and CEO and was previously with the National Institute of Health, WR Grace, Hercules, Rhodes Technologies, and Rhodes Pharmaceuticals.
Lex Adjei, Ph.D., is Adtech’s Vice President of R&D and was previously with AbbVie, Kos Pharmaceuticals, and Rhodes Pharmaceuticals;
Ping Chang, Ph.D., is Adtech’s Vice President of Operations and was previously with Pfizer, Schering Plough, Merck, Rhodes Technologies, and Rhodes Pharmaceuticals; and
Iok-Hou Pang, Ph.D., is Adtech’s Vice President of Product Development, and was previously with Alcon, Novartis, and is the instituting chair of the University Of North Texas School Of Apothecary.
The venture in Adtech is being done by Digital Power Lending, LLC, a solely owned subsidiary of the company.
Highlights regarding Adtech and NB-110
NB-110 encompasses a synthetic cannabinoid Nabilone in the nonappearance of any additive and its preparation impersonators a humanoid tear to drive effective distribution through the cornea to the retina and visual nerves in the back of the eye;
Adtech will own the U.S. Patent and Trademark Office listed intellectual property in arrangement, the technique of production, and usage;
To date, no business has established in scientific trials that accepted cannabinoids are effective for glaucoma despite anecdotal evidence;
Artificial Nabilone is a cannabinoid receptor agonist, a crystalline, and is steady under warmth, light, and oxygen, an improvement over usual happening cannabinoids such as dronabinol and cannabidiol;
Founded on Adtech’s preclinical discoveries, NB-110 is directed to lower interocular heaviness and protect visual nerves for glaucoma patients;
Adtech follows a 505(b)(2) monitoring pathway for NB-110 to deliver an alternative solution for those who find present actions insufficient.