Themis Medicare collaborates with NFL Biosciences to develop NFL-101 in India; stock climbs ~2.5%

7 Oct 2022 , 11:57 AM

Themis Medicare, a pharmaceutical company headquartered in Mumbai with a legacy of providing new treatment options to patients for over 50 years, has announced a collaboration with NFL BIOSCIENCES (Euronext Growth Paris – FR0014003XT0 – ALNFL), a biopharmaceutical company developing botanical drugs for the treatment of addictions, to develop NFL-101. It is the company’s drug candidate for smoking cessation, for the Indian market.

Themis Medicare Limited (Themis Medicare) has submitted an IND (Investigational New Drug) application to the Central Drugs Standard Control Organization (CDSCO), India’s National Regulatory Authority (NRA). There are around 267 million smokers in India, and their alternatives for quitting smoking are quite restricted.

Once the study is approved, a clinical trial with 334 smokers will be done in India. Themis Medicare will pay for the whole procedure, from submission through conclusion of the research. NFL Biosciences NFL-101 Active Pharmaceutical Ingredient will be purchased by Themis Medicare (API). NFL will also collect sales royalties in the double digits.

At around 12.02 PM, Themis Medicare was trading at Rs1,055.05 per piece, up by 2.34% from its previous closing of Rs1,030.95 on the BSE. The scrip touched intraday high and low of Rs1,081 and Rs1,048.95 respectively.

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