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Cynapsus Therapeutics Inc.
828 Richmond Street West
Toronto, Ontario, M6J 1 C9
T: 416-703-2449
F: 416-703-8752
[email protected]


Corporate Overview


Cynapsus is a specialty central nervous system pharmaceutical company developing and preparing to commercialize a Phase 3, fast-acting, easy-to-use, sublingual thin film for the on-demand turning ON of debilitating OFF episodes associated with Parkinson’s disease, or PD. PD is a chronic, progressive neurodegenerative disease characterized by motor symptoms including tremor at rest, rigidity and impaired movement as well as significant non-motor symptoms such as cognitive impairment and mood disorders. The re-emergence of PD symptoms is referred to as an OFF episode. The Company recently successfully completed a Phase 2 clinical trial for its product candidate, APL-130277, a sublingual formulation of apomorphine hydrochloride, or apomorphine. Apomorphine is the only molecule approved for acute, intermittent treatment to provide rapid turning ON and relief from OFF episodes, but is currently only approved in the United States as a subcutaneous injection, which poses a number of problems. APL-130277 is a “turning ON” medication designed to rapidly, safely and reliably convert a PD patient from the OFF to the ON state while avoiding many issues associated with subcutaneous delivery of apomorphine. It is designed to convert all types of OFF episodes, including morning OFF episodes, often considered the most difficult to treat. The Company has initiated its Phase 3 clinical program for APL-130277, relying on the abbreviated Section 505(b)(2) regulatory pathway in the United States, and intends to submit a New Drug Application (“NDA”) in 2016.

PD is the second most common neurodegenerative disease worldwide. Over one million people in the United States and between four and six million people worldwide suffer from PD. There is no known cure or disease modifying treatment currently available for PD. Current medications and treatments only control the major symptoms of the disease, with most drugs becoming less effective over time as the disease progresses. Cells that die in PD produce dopamine, a neurotransmitter critical to the signaling for movement. These current drugs and therapies either aim to supplement dopamine levels in the brain, mimic the effect of dopamine in the brain by stimulating dopamine receptors, referred to as dopamine agonists, or prevent the enzymatic breakdown of dopamine, prolonging its effect. The standard of care for the treatment of symptoms of PD remains oral levodopa, a drug approved nearly 50 years ago. While oral levodopa is efficacious, there are significant challenges for physicians in creating a dosing regimen of oral levodopa that consistently maintains levodopa levels within a patient’s therapeutic range. Over time, the response to levodopa becomes less reliable and predictable and levodopa often cannot turn a patient from the OFF to the ON state. As a result, the majority of PD patients experience OFF episodes despite taking PD medications.

OFF episodes are thought to occur when brain dopamine levels fall below a critical threshold to sustain relatively normal motor function, or ON. It can be a period of time when a patient’s PD medication is not working adequately to alleviate the patient’s PD symptoms, when the medication has a delayed effect or does not work at all. When experiencing an OFF episode, a PD patient is unable to perform simple daily tasks such as eating, bathing and dressing, thus becoming increasingly dependent on caregivers. OFF episodes are considered one of the greatest unmet medical needs facing PD patients. The Company believes the current addressable market for its product candidate, APL-130277, in the United States alone is approximately 400,000 patients.

Cynapsus has a substantial patent portfolio, including issued and pending patent applications in the United States and certain other jurisdictions that cover APL-130277 and its use in the treatment of PD. The Company also relies on significant know-how for the creation of an optimal and functional sublingual apomorphine strip system that combines key mechanical, chemical reaction and pharmacokinetic attributes.

Additional Information

Michael J. Fox Foundation Grants

Cynapsus Awarded Second Grant from The Michael J. Fox Foundation (Jul 2014)

Cynapsus Awarded Grant from The Michael J. Fox Foundation (Aug 2012)


Analyst Coverage

Bank of America Merrill Lynch, Initiation of Coverage (Jul 2015) – Sumant S. Kulkarni ([email protected])

Nomura, Initiation of Coverage (Jul 2015) – Do Kim ([email protected])

Noble Financial, Initiation of Coverage (Jul 2013) - Nathan Cali ([email protected])

M Partners, Initiation of Coverage (Jan 2014) - Daniel Pearlstein ([email protected])

Rx Securities, Initiation of Coverage (Nov 2015) – Dr. Samir Devani ([email protected])

Cynapsus is followed by the research analysts listed. Please note that any opinions, estimates, or forecasts regarding Cynapsus’ performance made by these analysts are theirs alone and do not represent opinions, forecasts, or predictions of Cynapsus or its management. Cynapsus does not, by its reference or distribution, imply its endorsement of, or concurrence with, such information, conclusions, or recommendations.

Cynapsus does not provide analyst reports to persons outside of the company. Please contact the research analyst directly to obtain a report.







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