Beyond Air Terminates Commercial Licensing Agreement for LungFit™ PH for Use in the Hospital Setting in the United States and China
GARDEN CITY, N.Y. and REHOVOT, Israel, Dec. 18, 2019 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR), a clinical-stage medical device and biopharmaceutical company focused on developing inhaled Nitric Oxide (NO) for the treatment of patients with respiratory conditions including serious lung infections and pulmonary hypertension, today announced the termination, for material breach, of the agreement with Circassia Pharmaceuticals, PLC for licensing the commercial rights for LungFit™ PH in the United States and China for use in the hospital setting at NO concentrations < 80 ppm. The agreement was signed January 23, 2019.
Beyond Air is evaluating options for the commercialization of LungFit™ PH, which is still on track for the second half of 2020 in the United States.
About Beyond Air, Inc.
Beyond Air, Inc. is a clinical-stage medical device and biopharmaceutical company developing a revolutionary NO Generator and Delivery System that uses NO generated from ambient air to deliver precise amounts of NO to the lungs for the potential treatment of a variety of pulmonary diseases. The Beyond Air NO Delivery System can generate up to 400 ppm of NO for delivery either continuously or for a fixed amount of time and has the ability to either titrate dose on demand or maintain a constant dose. The Company is currently applying its therapeutic expertise to develop treatments for pulmonary hypertension in various settings, in addition to treatments for lower respiratory tract infections that are not effectively addressed with current standards of care. Beyond Air is currently advancing its revolutionary NO Generator and Delivery System in clinical trials for the treatment of bronchiolitis and severe lung infections such as nontuberculous mycobacteria