"We remain committed and focused on the commercialisation of our TPM or oxycodone patch," Dr Ogru said.

"We are confident this partnership will ensure success at these crucial final stages. Together with our existing Pain Advisory Board, we believe the appointment of Neura will ensure the development of a commercially relevant product as we prepare a high quality package for the FDA."

Dr Ogru acknowledged Neura's ability to leverage its expertise in the analgesic market and build strong working alliances with strategic operational partners.

Neura Therapeutik is the holding company for Neura Labs LLC, the in-licensing business unit, and Neura Group LLC the consulting unit, providing companies interested in entering the analgesic market with a highly experienced commercial infrastructure and leadership team capable of rapidly establishing a comprehensive US operational presence. Neura offers high quality functional area expertise in CMC, regulatory and manufacturing scale up to sales, marketing, launch readiness and life-cycle management.

Neura Therapeutik CEO, Mr John La Lota, said, "We are excited to work with Phosphagenics on the development of the TPM or oxycodone program.