Risks and Rewards: Patrys’ Strategic Move into Injectable Antipsychotics
Patrys Limited has completed its acquisition of Reliis Pty Ltd, adding a promising injectable quetiapine program to its clinical pipeline and strengthening its board with two new directors.
- Acquisition of Reliis Pty Ltd finalised, making it a wholly owned subsidiary
- RLS-2201 injectable quetiapine program added to Patrys’ clinical-stage pipeline
- Two new Non-Executive Directors appointed to Patrys’ Board
- Focus on advancing RLS-2201 for delirium management in acute-care settings
- Consideration securities to be issued as part of acquisition terms
Acquisition Completion and Strategic Expansion
Patrys Limited (ASX, PAB), a therapeutic antibody development company, has officially completed the acquisition of Reliis Pty Ltd, a clinical-stage pharmaceutical company. This move marks a significant milestone in Patrys’ strategy to broaden its therapeutic pipeline by incorporating a lower-risk, high-value asset. Reliis is now a wholly owned subsidiary, and its proprietary injectable quetiapine program, RLS-2201, has been formally integrated into Patrys’ clinical-stage development portfolio.
RLS-2201, Addressing an Unmet Medical Need
The RLS-2201 program targets delirium management in acute-care environments such as intensive care units, aged care, and palliative care settings. Delirium remains a significant and growing global health challenge, with no currently approved treatments. By reformulating quetiapine into an injectable form, RLS-2201 aims to offer rapid onset, predictable dosing, and improved suitability for acute-care settings, leveraging the well-established safety profile of the drug.
Governance Strengthened with New Board Members
Alongside the acquisition, Patrys has appointed two new Non-Executive Directors to its Board, Ms Leanne Kite and Mr Dino Cercarelli. Both bring extensive experience relevant to the biotech and clinical research sectors. Ms Kite, a co-founder of Reliis, has a strong background in finance, governance, and investor relations, while Mr Cercarelli brings over two decades of healthcare and clinical trial operations expertise. Their appointments are expected to enhance Patrys’ governance and strategic oversight as the company advances its expanded pipeline.
Next Steps and Market Implications
With shareholder approval secured and all due diligence completed, Patrys will now issue consideration securities as part of the acquisition agreement. The company’s immediate focus will be on progressing RLS-2201 through its next clinical development phase and integrating the program within its broader therapeutic platform. This acquisition positions Patrys to potentially address a significant unmet medical need while diversifying its clinical assets.
Bottom Line?
Patrys’ acquisition of Reliis and board expansion set the stage for advancing a promising acute-care therapy with potential market impact.
Questions in the middle?
- What are the projected timelines and milestones for RLS-2201’s clinical development?
- How will the issuance of consideration securities affect Patrys’ share structure and investor sentiment?
- What regulatory hurdles remain for RLS-2201’s approval and commercialisation?
