Cessatech A/S announced that the Company has entered into an exclusive US license and collaboration agreement with Ventis Pharma Corporation for the development and commercialization of CT001 for the US market. Under the agreement both parties, Cessatech and Ventis Pharma will share costs and net profits 50/50 with the potential to generate revenues from 2024, much earlier than originally anticipated. The deal leverages Ventis Pharma's experience in the US regulatory and commercial landscape for pain management and CT001 will join other therapies in the company's portfolio being used by selected US hospitals under an early access program governed by the FDA.

In parallel to offering CT001 under an early access program, Ventis will build on the late-stage development work already carried out by Cessatech through the approved Pediatric Investment Plan (PIP) to pursue a New Drug Application (NDA) with the FDA for the treatment of acute pain in pediatriciatrics. With this partnership CT001 can potentially be available to patients in the US already by the next year - which is 3-4 years earlier than originally anticipated - as leverage the skills and operations of partner. This collaboration is a good illustration of strategy to build business by working with partners who can help successfully navigate the regulatory and commercial landscape in different territories.

Ventis will potentially also be involved in the further development of pipeline within pain management.