Adapt Pharma Announces License Agreement for Naloxone Nasal Spray With Lightlake Therapeutics Inc.

December 16, 2014

Dublin, Ireland—December 16, 2014—Adapt Pharma Limited (“Adapt Pharma”) today announced the signing of a License Agreement for global rights and related intellectual property to develop and commercialize naloxone nasal spray for the treatment of opioid overdose with Lightlake Therapeutics Inc. (“Lightlake”) (OTCQB:LLTP).

Naloxone is an opioid antagonist used for the emergency treatment of known or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression. Opioid overdose can occur in various settings, including overdose with prescription pain medications, such as morphine, or through the use of illegal drugs, such as heroin. An injectable formulation of naloxone is currently approved by the U.S. Food and Drug Administration. Adapt Pharma believes that a nasal spray formulation may facilitate the earlier administration of naloxone, particularly by family members, caregivers, and first responder emergency personnel.

The nasal spray formulation of naloxone has been in development by Lightlake. Lightlake, in collaboration with the National Institute on Drug Abuse (“NIDA”), part of the National Institutes of Health (“NIH”), commenced a clinical trial with respect to the nasal spray in September 2013. In July 2014, Lightlake announced that it filed an investigational new drug application and received an additional commitment from NIDA to fund a second study. On December 3, 2014, Lightlake announced that this second study had commenced.

“We are pleased to partner with Lightlake and add this product to our business,” commented Mr Seamus Mulligan, Adapt Pharma’s Chairman and Chief Executive Officer. “The product may be an important therapeutic option with significant benefits for patients, first responder medical staff, and caregivers. We look forward to completing development and commercially launching the product.”

“Our entering into an agreement with Adapt Pharma is a transformative event for Lightlake. Adapt Pharma is a tremendous development and commercialization partner for Lightlake,” said Dr Roger Crystal, CEO of Lightlake. “Adapt Pharma has a highly experienced and proven management team, significant financial resources, and strong capabilities to address a significant public health risk.”

About Adapt Pharma Limited

Adapt Pharma Limited is a privately held pharmaceutical company committed to making a positive impact on the lives of patients with specialty medical conditions. Adapt Pharma’s strategy is to identify, evaluate, selectively acquire, and enhance the value of late-stage development—and FDA approved—pharmaceutical products. Adapt Pharma’s company headquarters is in Dublin, Ireland.

About Lightlake Therapeutics Inc.

Lightlake Therapeutics Inc., a biopharmaceutical company, is using its opioid antagonist expertise to build a platform of innovative intranasal naloxone treatments for common addictions and related disorders. For more information, please visit: www.lightlaketherapeutics.com

Media Contact

media@adaptpharma.com