Plethora in-licenses endometriosis and dysmenorrhea drugs

UK specialty drugmaker Plethora Solutions says that it has in-licensed two clinical stage pain treatments from fellow UK-based drugmaker Metris Therapeutics. The two compounds, M5003, under development as a dysmenorrhea therapy, and the endometriosis drug M5004, are both new formulations of off-patent products with long-term safety profiles and clearly defined mechanisms of action, the company noted.

Under the terms of the deal, Plethora will undertake a Phase IIb study of M5003, and a pilot trial of M5004, using Metris' proprietary delivery system, which it is also licensing under the agreement. Plethora added that it would fund the work through the issuance of 374,995 of its ordinary shares to a number of Metris shareholders, in a move designed to raise L750,000 ($1.4 million). Further financial details of the accord were not made public.