nasal devices

Global Health Ventures Anti-Obesity Drug Program

Global Health Ventures and Critical Sign Memorandum of Understanding for an Anti-Obesity Drug 27/01/2009 09:00

Global Health Ventures and Critical Sign Memorandum of Understanding for an Anti-Obesity Drug

Global Health Ventures Inc. (OTCBB: GHLV), a HealthCare Technology merchant bank is pleased to announce the signing of a memorandum of understanding for the acquisition of an anti-obesity nasal drug product from Critical Pharmaceuticals Ltd.

Under the terms of the agreement, Critical Pharmaceuticals licenses an anti-obesity drug product that they have developed using their patented technology known as CriticalSorb to Global Health Ventures on worldwide exclusive basis. A different version of the drug is currently in the late stage of development with some major pharmaceutical companies, but Critical management believes their formulation is far more effective than the current formulation being tested.

The parties plan to reach final agreement in the near future, subject to completion of some outstanding conditions. The entire financing for the project will be committed by Global Health Ventures; and Critical Pharmaceuticals will benefit from the marketing of the product through royalties, milestones and research contracts agreed by the two companies.

CriticalMix Technology

CriticalMix rig

CriticalMix enables the manufacture of highly active sustained release depot products for bimonthly, monthly or less frequent injection.

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CriticalSorb Technology

nasal device

CriticalSorb enables the non-invasive nasal delivery delivery of high-value biologic products and challenging small molecule drugs.

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