CORONADO BIOSCIENCES IN-LICENSES IV TRAMADOL, A PHASE III READY ASSET, FROM REVOGENEX IRELAND LTD.
Forms Subsidiary to Build Portfolio of Acute Care Products Including IV Tramadol
New York, NY – February 18, 2015– Coronado Biosciences, Inc. (NASDAQ: CNDO) has obtained an exclusive license to an intravenous (IV) formulation of tramadol for the U.S. market from Revogenex Ireland Ltd, a privately held company in Dublin, Ireland. Coronado has formed a wholly owned subsidiary, Avenue Therapeutics, Inc., to acquire, in-license, develop and commercialize products principally for use in the U.S. hospital market. Coronado will transfer the Revogenex license to Avenue Therapeutics, Inc. In addition to IV tramadol, Avenue Therapeutics plans to seek additional products.