Perth-based SUDA (ASX:SUD) announced that it is "making good progress" towards meeting its business development objectives following the BIO-Europe Spring international partnering conference in Paris.
According to the company, it has made good progress in ongoing discussions regarding its pipeline of oral sprays and has also expanded the number of pharmaceutical companies interested in its OROMIST drug delivery technology.
"SUDA's business development team met with 42 companies at the BIO-Europe Spring event, comprising 25 first-time meetings and 17 ongoing dialogues," it said.
It was a particularly good opportunity for its out-licensing initiative in relation to ZOLPIMIST, the company said, SUDA's FDA-registered oral spray of zolpidem for the treatment of insomnia.
It gained worldwide rights to ZOLPIMIST, excluding the Americas and South Africa, from Amherst Pharmaceuticals as part of a wider deal for SUDA's anti-emetic, SUD-002 (ondansetron).
"We have made great progress over the last few weeks and were delighted by the quality of interaction and feedback at the BIO-Europe Spring conference," said SUDA CEO Mr Stephen Carter.
"Our hit rate of successful conversion of initial meeting to active discussions has increased to more than 55 per cent, which illustrates the high level of interest in our OROMIST technology platform and pipeline of oral sprays.
"We aim to advance our most advanced discussions to deal outcomes at the earliest opportunity to provide further validation of the platform and to accelerate our path to financial sustainability," Mr Carter said.