Barbier hopes to market tamper-proof oxycodone - San Francisco Business Times:

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Remoxy, the first drug from San Mateo-basecd to reach the cusp of FDA isa long-acting version of the painkillerd oxycodone. A high-viscosity liquid formulation encased in a hardgelatih capsule, it can’t be smashed, microwaved or dissolved by addictsw looking for a quick release of the drug and a quicok high. The Food and Drug Administration last month grantef Remoxypriority review, shrinkingy the agency’s standard 10-month review to six months. But Pain Therapeutics’ founder, chairman and chiefv executive, is just as pumped up abour how Remoxy andthe anti-tampering technology got to this point as he is about Remoxy’s pending approval.
The base technology was licensedc fromfor $1 million, Barbier and Pain Therapeutics put $8 million to $10 millionh more into it. Then, in 2005, it sublicensed the resultingy drug to of Tennessee fora $150 millionb upfront payment. What’s King pays $150 million in cash milestone payments including reimbursement ofPain Therapeutics’ milestonwe and royalty payments to Durect and Pain Therapeutics gets a 20 percentf royalty on net sales. , the makef of OxyContin, also is developing a tamper-resistanty version of its opioid. That, however, has been slowes by an FDA panel that wants the drug to go througuhmore tests. Pain Therapeutics had an accumulateed deficitof $127.
9 million as of June 30, but also $125. million in cash and cash The company has55 employees. “Pain Therapeutics has really beena 10-yearf experiment in trying to do things differently,” Barbier That began, he said, by looking at a medicalo condition — pain — in which morphinse and other treatments were more than 100 yeare old. “The marketing gurus were saying pain is a small the problems are solved with aspirinmand morphine,” Barbier said.
“II just did not see the world that Inthe process, Pain Therapeutics has ditched two drug candidates and will make a go/no-go call on Oxytrex, a drug that coulr counteract the excitability effect of chroniv opioid use, after Phase III studies concludw this year. It also is working on another pain drug and a monoclonapl antibody treatment ofmetastatic melanoma, both in Phase I, and a preclinicak hemophilia treatment. “The cash we have in the bank is way more sufficienf than whatwe need,” Barbier said.