AskAt Inc. (Headquarters, Nagoya, Japan; President, Akihiro Furuta) today announced an agreement with Oxford Cannabinoid Technologies (Headquarters, London, UK; Chairman, Neil Mahapatra) which includes the option to license AAT-730, AskAt’s CB2 receptor agonist.
AskAt Inc. will receive a research collaboration payment, and, in the event the license is exercised by Oxford Cannabinoid Technologies, a licensing fee, development milestone payments, and sales royalty payments. Specific milestone and payment terms have not been disclosed by the companies.
CB2 Receptor Agonist AAT-730
Cannabinoid receptors are a traditional drug target for pain and neurological disease therapy. Recent scientific research on cannabinoids has revealed the potential of the CB2 receptor, one of two cannabinoid receptors, as a molecular target for neuropathic pain, cancer pain, neurodegenerative disease, such as Alzheimer’s and Parkinson’s diseases, neuroinflammatory diseases, cancer, and diabetes. CB1 and CB2 each have different distribution profiles and pharmacological functions in the human body. A number of pharmaceutical companies have attempted to develop CB2-selective agonists without CB1-mediated neurological side effects, however without success. AskAt is developing AAT-730, a small molecule and highly selective CB2 agonist, with no CB1-related untoward effects, and potent CB2-mediated pharmacological efficacy in in vivo studies
Oxford Cannabinoid Technologies
Oxford Cannabinoid Technologies is a biopharmaceutical company established to combine cannabinoid medicine with world-class scientific research. The company’s current research areas for cannabinoid-based therapies include pain, oncology, inflammatory diseases and neurological disorders. Please refer the company’s web page for details.