Pharmos to sell certain CB2 selective agonists

Pharmos Corp of the USA has entered into an agreement with Israel-based Reperio Pharmaceuticals for the sale of the patent rights and technical  know-how related to the compound known as PRS-639,058 and some follow on  molecules. These CB2-selective cannabinoids are synthetic compounds  which belong to the class of non-classical cannabinoids and thus display  fewer of the undesired psychotropic and cardiovascular side effects seen  with some natural products.

Pharmos had developed these compounds in preclinical testing for  neuropathic pain. The particular patents and know-how subject to this  deal share some of the pharmacological properties with cannabinoids and  have a common, wide range of beneficial therapeutic indications. In  particular, the compounds sold are useful as analgesic,  neuroprotective, immunomodulatory and anti-inflammatory agents.

The two companies have executed an asset purchase agreement, which is  targeted to close on or before June 6. As well as customary closing  conditions, Reperio must reach consent with the Office of the Chief  Scientist in Israel to clearly define the assumption of potential  liabilities for grant payments that were made to Pharmos during the  development of the CB2 program.