EMERYVILLE, Calif., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc., Inc. (Nasdaq: ADMS), a company dedicated to developing and delivering medicines that make a meaningful difference to people affected by neurological diseases, todayannouncedit hassigned an agreement tosettle its ongoing patent litigation with OsmoticaPharmaceutical US LLC, a subsidiary of OsmoticaPharmaceuticals plc.As a result of this agreement,both partieswilldrop their respective claims relating to thepatentlitigation,and Adamaswillacquire the global rightstoOSMOLEXERfor $7.5 million.The agreement is expected to closeearly in2021.

Adamas current portfolio consists of GOCOVRI (amantadine) extended-release capsules for the treatment of dyskinesia in patients with Parkinsons disease receiving levodopa-based therapy. OSMOLEX ER (amantadine) extended-release tablets is FDA-approved for the treatment for Parkinsons disease and drug-induced extrapyramidal reactions in adult patients.

This settlement agreement removes any further litigation costs and related distraction for Adamas. The acquisition of OSMOLEX ER also expands our presence in Neurology which is part of our long-term growth strategy, said Neil F. McFarlane, Chief Executive Officer. The different FDA-approved indications and pharmacokinetic profiles for GOCOVRI and OSMOLEX ER allow for the treatment of distinct patient populations. We intend to leverage our commercial expertise to unlock the full potential of both products and serve more patients in the wider neurology community.

As part of the acquisition, Adamas will receiveexisting inventory and allrightstoOSMOLEX ER.Parties also entered a supply agreementin whichOsmoticawillbe the sole manufacturer ofOSMOLEXER.Both parties are working together toensurecontinuity ofproductsupplytopatients.

About GOCOVRI

GOCOVRI (amantadine) extended-release capsulesisthe first and only FDA-approved medicine indicated for the treatment of dyskinesia in patients with Parkinsons disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. It is also the only medicine clinically proven to reduce both dyskinesia and OFF.

Taken once daily at bedtime, GOCOVRI provides an initial lag and a slow rise in amantadine concentration during the night, resulting in a high concentration from the morning and throughout the waking day. Additionally, in the clinical trials, the adjunctive use of GOCOVRI did not require dose changes to dopaminergic therapies. Themost commonly observedadverse reactions with GOCOVRI were hallucinations, dizziness, dry mouth, peripheral edema, constipation, falls and orthostatic hypotension.

For more information about GOCOVRI, please visitwww.GOCOVRI.com.

About OSMOLEXER

OSMOLEX ER,(amantadine)extended-releasetablets, is FDA-approved for the treatment of Parkinsons disease and drug-induced extrapyramidal reactions in adult patients.OSMOLEX ER is contraindicated in patients with end-stage renal disease (i.e., creatinine clearance below 15 mL/min/1.73 m2). The most common adverse reactions reported in 5% of patients at the recommended dosage of immediate-release amantadine were nausea, dizziness/lightheadedness, and insomnia.

For more information about OSMOLEX ER, including the full Prescribing Information, please visit http://www.OSMOLEX.com

About Adamas

At Adamas our vision is clear - to deliver innovative medicines that reduce the burden of neurological diseases on patients, caregivers and society. We are a fully integrated company focused on growing a portfolio of therapies to address a range of neurological diseases. For more information, please visitwww.adamaspharma.com.

Forward-looking statements

Statements contained in this press release regarding matters that may occur in the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements contained in this press release regarding Adamas expectationsregarding the expected timing of the closing of the transaction with Osmotica. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied by such forward-looking statements. Forexample, the completion of the transaction is subject to closing conditions, which if not met or waived, would cause the transaction not to close. Other risks relating to Adamas may be found inAdamas Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 5, 2020, particularly under the caption Risk Factors. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Adamas undertakes no obligation to update any forward-looking statement in this press release, except as required by law.

Contact:

MediaSarah MathiesonVice President of Corporate Communications510-450-3528smathieson@adamaspharma.com

InvestorsPeter VozzoManaging Director, Westwicke443-213-0505peter.vozzo@westwicke.com

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Adamas Announces Agreement to Settle Patent Litigation with OsmoticaAs part of this agreement Adamas will acquire the global rights to OSMOLEX ER -...