Braeburn and Camurus Announce Initiation of a Phase 2 Study in Opioid Dependent Patients with Moderate to Severe Chronic Pain

Princeton, New Jersey and Lund, Sweden — 22 February 2016 — Braeburn
Pharmaceuticals and Camurus announced today that the first patients have been
dosed with CAM2038, weekly and monthly subcutaneous buprenorphine injections, in
a pharmacokinetic study of opioid dependent patients with chronic pain.

The primary objective of this Phase 2 study is to assess the steady state
pharmacokinetics of buprenorphine after repeated doses in opioid dependent
patients with chronic pain, including effects of injection into different
subcutaneous sites. This study will also explore the effect of CAM2038 on
chronic pain, along with evaluation of safety and tolerability.

“This marks the fourth clinical study that has been started in the last five
months for CAM2038, including two Phase 3 trials in opioid dependence. The
ability to use CAM2038 in multiple injection sites would allow physicians the
flexibility to personalize treatments,” said Behshad Sheldon, President and CEO,
Braeburn Pharmaceuticals. “Our goal is to provide a suite of best-in-class long
-acting treatment options tailored to the individual needs of patients suffering
from opioid dependence and chronic pain.”

“Patients that suffer from chronic pain and are also opioid dependent are a
difficult population to treat,” said the principal investigator Dr. Greg
Sullivan, medical director at Parkway Medical Center in Birmingham, Alabama. “By
using a long acting buprenorphine injectable, these patients would no longer be
required to take medication multiple times per day. Buprenorphine also guards
against hyperanalgesia and opiate tolerance, both of which are problems with
conventional opiates.”

“CAM2038 has the potential to offer effective and safe around-the-clock pain
relief, without risks of abuse and diversion. The pharmacological properties of
buprenorphine together with long-acting release from the FluidCrystal
formulation could also decrease risks of respiratory depression and overdose
mortality associated with current opioid pain treatments,” said Fredrik Tiberg,
President and CEO, Camurus.

About Braeburn Pharmaceuticals
Braeburn Pharmaceuticals, an Apple Tree Partners company, is a pill-free
pharmaceutical company delivering precision medicine in neuroscience. In
September 2015 the Food and Drug Administration (FDA) accepted for review
Braeburn’s New Drug Application for its lead candidate, Probuphine®, a six-month
buprenorphine implant for treatment of opioid addiction. The Agency set May 27,
2016 as the target date for action. Long-acting therapeutic treatment options
can be essential to improving patient outcomes and facilitating recovery in
these conditions, which are often complicated by stigma and present significant
public health challenges. Braeburn’s investigational product pipeline consists
of long-acting implantable and injectable therapies for serious neurological and
psychiatric disorders, including opioid addiction, pain, and schizophrenia.
Candidates include: Probuphine®, a six-month buprenorphine implant for treatment
of opioid addiction; CAM2038, weekly and monthly subcutaneous injection depot
formulations of buprenorphine for treatment of opioid addiction and pain; a
risperidone six-month implant for treatment of schizophrenia; and a novel
molecule, ATI-9242, for treatment of schizophrenia. More information on
Braeburn, can be found at www.braeburnpharmaceuticals.com.

About CAM2038
The investigational CAM2038 buprenorphine subcutaneous injection products for
treatment of opioid addiction are being developed as once-weekly and once
-monthly formulations, each with multiple doses, to cover all phases of
treatment from initiation through maintenance.  The CAM2038 products are
designed for administration by healthcare personnel to ensure proper delivery
that minimizes the risks of diversion, abuse, misuse, and accidental exposure.
The CAM2038 products have been evaluated in three Phase 1/2 clinical trials,
which evaluated the safety and tolerability as well as pharmacokinetic and
pharmacodynamic properties of the products in a total of 176 individuals (opioid
-dependent patients and healthy volunteers under naltrexone blockage).

About Camurus
Camurus is a Swedish research-based pharmaceutical company committed to
developing and commercialising innovative and differentiated medicines for the
treatment of severe and chronic conditions. New drug products with best-in-class
potential are conceived based on the proprietary FluidCrystal® drug delivery
technologies and an extensive R&D expertise. Camurus’ clinical pipeline includes
products for treatment of cancer, endocrine diseases, pain and addiction,
developed in-house and in collaboration with international pharmaceutical
companies. The company’s share is listed on Nasdaq Stockholm under the ticker
“CAMX”. For more information, visit www.camurus.com

Media contacts:
Fredrik Tiberg, President & CEO
Tel: +46 (0)46 286 46 92
ir@camurus.com

Sherry Feldberg
MSLGROUP Boston
+1 781-684-0770
braeburnpharma@mslgroup.com

The information was submitted for publication at 08.00 a.m. on 22 February 2016.

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