Oragenics has concluded the previously announced acquisition of Odyssey Health’s assets, including proprietary neurological drug therapies and technologies.

The acquired assets consist of ONP-002 and Odyssey’s concussion asset, which is a novel nasal delivery system.

ONP-002 is a fully synthetic neurosteroid, currently being developed for the treatment of mild traumatic brain injury (mTBI).

The concussion asset is said to be the first-in-class intranasal medication being developed for the treatment of moderate-to-severe concussions in the acute to subacute stages.

In preclinical animal trials, the asset showed an excellent safety profile, quick and widespread biodistribution throughout the brain, and simultaneous reduction of swelling, inflammation, and oxidative stress.

The findings from the animals treated with the drug post-concussion demonstrated positive behavioural outcomes.

Using various testing platforms, the results showed decreased anxiety and enhanced memory and sensory-motor performance.

In a Phase 1 clinical trial involving healthy human subjects, ONP-002 has demonstrated its safety and well-tolerated nature.

Oragenics plans to get ready for Phase 2 clinical trials to further assess the safety and effectiveness of the asset.

Additionally, the acquired assets also include all of Odyssey’s rights and interest in ONP-001, which is said to be a first-in-class neurosteroid being developed to treat Niemann Pick Type-C Disease (NPC).

Oragenics CEO Kim Murphy said: “We are delighted to complete this pivotal transaction following a favourable vote of shareholders at both companies.

“We expect that Odyssey’s neurological pipeline will significantly expand our market opportunity and believe its technology complements our expertise in intranasal drug delivery.

“This acquisition also addresses a significant and growing health concern. There are an estimated 5 million concussions annually in the US, with up to half going unreported, underscoring a substantial market opportunity for an efficacious treatment.”

Along with this deal, Michael Redmond, who has been president and CEO of Odyssey since 2018, was announced as president of Oragenics.

The Odyssey management and development team, which oversaw the design and execution of the ONP-002 clinical trial will continue to oversee the development and research of the assets.