TEL AVIV, Israel, November 16, 2016 /PRNewswire/ --

Neurim Pharmaceuticals ("Neurim") and Aspen Pharmacare Australia ("Aspen") announced today a license agreement in which Aspen will obtain exclusive marketing rights for Neurim's new Rx PedPRM.

Neurim's age-appropriate drug is targeted to treat sleep disorders in children with autism spectrum disorders (ASD) and neurogenetic diseases. While most of these children suffer severely from sleep problems, there is currently no approved drug for sleep disorders in the paediatric population.

This agreement constitutes further collaboration between the companies, following a 2009 agreement to market Circadin^®, indicated to treat the elderly for insomnia. "Aspen has proven to be a valuable partner. Neurim is confident in Aspen's ability to bring this treatment to children." said Mr. Sharon Elkobi, VP Business Development of Neurim Pharmaceuticals, "We are working diligently to make our product available in additional markets".

"Aspen is pleased to continue this partnership and bring PedPRM to the market to address the unmet needs of this patient population." said Mr. Trevor Ziman, Chief Executive of Aspen Asia Pacific.

About PedPRM 

PedPRM is a response to the unmet clinical need in the field of paediatric insomnia, specifically developed to address main concerns in children with ASD and neurogenetic diseases. PedPRM is an age-appropriate formulation designed for populations with swallowing difficulties.

PedPRM completed a Phase III study, under EU-PIP and US-FDA IND, showing positive top-line results. PedPRM met the primary efficacy endpoint demonstrating statistically significant improvement in total sleep time (TST) compared to placebo. Secondary efficacy endpoints demonstrating improvements in sleep initiation and maintenance were met as well.

About Neurim Pharmaceuticals 

Neurim Pharmaceuticals Ltd. (http://www.neurim.com ) is a neuroscience drug discovery and development company. Its first approved drug Circadin^® is commercially available in more than 45 countries around the world.

Neurim has a strong and innovative product pipeline, intended for insomnia, Alzheimer's disease, dementia, glaucoma and pain.

About Aspen Australia 

Aspen Australia, part of the Aspen Group, is one of the largest pharmaceutical companies in Australia with a comprehensive portfolio of medicines, covering most disease states. It is also responsible for a growing business in a dozen countries in Asia.

Aspen Group is a leading global player in specialty and generic pharmaceuticals with an extensive basket of products that provide treatment for a broad spectrum of acute and chronic conditions experienced through all stages of life.

Contact
Sharon Elkobi
VP Business Development
sharone@neurim.com

SOURCE Neurim Pharmaceuticals LTD