Acasti Pharma Inc (NASDAQ:ACST) (CVE:ACST) has partnered with Aker BioMarine for a two-year supply of krill oil, the primary ingredient in the production of its hypertriglyceridemia drug candidate CaPre.
The fixed-price supply agreement secures an adequate supply of raw krill oil through at least mid-2021, as the company ramps up production of the drug to build future inventory for commercial launch.
Shares of Acasti traded 4.3% higher at C$2.68 on the TSXV on Monday and 5.2% higher at US$2.03 on OTC Markets.
“We have built a state-of-the-art manufacturing operation for CaPre, and it is important for us to continue to maintain long-term relationships with the highest quality suppliers across the entire supply chain, in order to ensure continuous operations and delivery of CaPre according to plan,” Acasti COO and Chief Scientific Officer Pierre Lemieux said in a statement. “Aker BioMarine produces high quality krill oil, which is sustainably harvested and has been certified by the Marine Stewardship Council."
READ: Acasti Pharma on pace to release Phase 3 trial results of lead drug candidate CaPre in December
The companies have also agreed to contemplate future commercial collaborations, Lemieux said.
“Acasti, with its novel drug product CaPre, represents an exciting growth opportunity for our two organizations,” Tim de Haas, Aker EVP of human health & nutrition, said in a statement. “We are pleased to partner with Acasti to support commercialization of the first ever, krill oil-based, prescription drug product, which we believe has the potential to become the best-in-class omega-3 therapeutic for the management of cardiometabolic disorders. We look forward to working with their team on future supply initiatives.”
CaPre is an omega-3 phospholipid designed to combat high levels of triglycerides, or fatty molecules, as a treatment for hypertriglyceridemia, a metabolic condition that contributes to increased risk of cardiovascular disease and pancreatitis.
—Updated to include stock movement—
Contact Andrew Kessel at email@example.com
Follow him on Twitter @andrew_kessel