What Tasman Therapeutics does

Tasman Therapeutics is a clinical-stage biotechnology company developing R-107, a proprietary oral extended-release ketamine tablet for the treatment of Treatment-Resistant Depression (TRD). The company is a newly incorporated US-based affiliate of Douglas Pharmaceuticals Ltd, New Zealand's largest pharmaceutical company, founded in 1967. R-107 is positioned to be the first registered oral monotherapy for TRD, designed for convenient at-home self-administration by patients who have failed two or more first-line treatments such as SSRIs/SNRIs.

The underlying technology is a novel timed oral delivery system that releases ketamine slowly and steadily, achieving a rapid, robust, and durable antidepressant response without clinically significant dissociation. The platform modulates GABA and glutamate neurotransmitters rather than monoamines, with a controlled-release formulation that the company claims reduces addiction potential relative to faster-acting ketamine dosage forms. Phase 2 dose-finding trials treated 231 patients with TRD, achieving greater than 96% compliance on the investigational product with no safety or tolerability concerns. The Investigational New Drug (IND) application is open with the FDA for all Phase 3 studies, and the regulatory pathway is aligned with both US FDA expectations and Scientific Advice from EU Member States.

Tasman currently generates no product revenue and operates as a pre-commercial sponsor with a planned licensing and royalty revenue model. Manufacturing is performed by affiliated Douglas Pharmaceuticals at a US FDA-inspected plant in Auckland, New Zealand, and intellectual property (patents granted and pending) is held by Douglas, providing protection on the timed-delivery system and dose regimen until at least 2037 with applications pending that could extend exclusivity beyond 2045. The executive team and Clinical Advisory Board include academic psychiatrists from Stanford, Baylor College of Medicine, Yale, King's College London, and the University of Otago, among others, and the company is actively seeking strategic investors to fund Phase 3 development.

Name

Tasman Therapeutics

Legal name

Tasman Therapeutics Incorporated

Website

https://tasmantherapeutics.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

1–10 employees

Short description

Tasman Therapeutics is a US-based clinical-stage affiliate of Douglas Pharmaceuticals developing R-107, an oral extended-release ketamine tablet in Phase 3 trials for patients with Treatment-Resistant Depression who have failed prior therapies.

Ownership category

akta.pro rank

Headquarters

HQ city

Lincoln

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain

Revenue model

1. R-107 Ketamine Therapy: Pre-revenue pharmaceutical company developing R-107, an oral extended-release ketamine tablet for treatment-resistant depression. The company is in Phase 3 clinical stage with regulatory pathway aligned with FDA and EU expectations.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Tasman Therapeutics is developing R-107, a proprietary oral extended-release ketamine tablet for the treatment of treatment-resistant depression. The product uses a novel timed delivery system that produces antidepressant effects without clinically significant dissociation, enabling safe at-home self-administration. The company is advancing R-107 through Phase 3 clinical trials with an open FDA IND.

Product overview

Tasman Therapeutics is a US-based affiliate of Douglas Pharmaceuticals (New Zealand), developing a single pharmaceutical product: R-107. R-107 is a proprietary oral extended-release ketamine tablet designed for at-home self-administration by patients with hard-to-treat Treatment Resistant Depression. The product utilizes a novel timed delivery technology to achieve antidepressant effects without the dissociation typically associated with ketamine, and has completed Phase 2 trials with Phase 3 studies underway under an open FDA Investigational New Drug (IND) application.

Differentiator

Problem solved

Functional benefit

Products and services

• R-107 Oral extended-release ketamine tablet for Treatment-Resistant Depression. First and only oral extended-release ketamine therapy, providing at-home self-administration with rapid, robust and durable antidepressant response without clinically significant dissociation. Indicated for patients with hard-to-treat Treatment Resistant Depression who have failed two or more first-line treatments such as SSRI/SNRIs or combination therapies with antipsychotics.

Quantifiable outcome

• 231 patients treated with >96% compliance on investigational product in Phase 2 trial
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Douglas Pharmaceuticals LtdcoreStrategic or Co-development Partner · 1 January 1967Douglas Pharmaceuticals Ltd is New Zealand's largest pharmaceutical company, founded in 1967, with products available in 40 countries. Tasman Therapeutics is a US-based affiliate of Douglas. Douglas has patents granted and pending to protect R-107's unique features until at least 2037, with applications pending with potential expiration >2045. R-107 is manufactured at Douglas' US FDA inspected plant in Auckland, New Zealand.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Spravato (Janssen / Johnson & Johnson): Janssen's Spravato (esketamine) nasal spray is the FDA-approved standard of care for treatment-resistant depression. Same indication (TRD) and same drug class (ketamine-based therapy), making it the most directly comparable competitor and the benchmark R-107 must beat on convenience.
• Axsome Therapeutics: CNS-focused company with Auvelity (dextromethorphan/bupropion) approved for major depressive disorder. Comparable as a developer of novel depression therapeutics targeting treatment-resistant populations with proven FDA approval execution.
• COMPASS Pathways: Clinical-stage mental health company developing psilocybin therapy for treatment-resistant depression. Same indication and same paradigm-shifting approach to psychedelic-adjacent therapies for TRD, positioning COMPASS as a direct competitor in the emerging oral/classic psychedelic TRD landscape.
• atai Life Sciences: Clinical-stage biopharma developing psychedelic-based therapies for mental health including treatment-resistant depression. Comparable as a peer pursuing novel mechanism depression treatments with similar clinical-stage risk profile and psychedelic-adjacent positioning.
• Relmada Therapeutics: Clinical-stage CNS company that pursued NMDA-receptor targeting ketamine-based therapy for severe bipolar depression. Comparable as a developer of ketamine-based therapies for treatment-resistant mood disorders with overlapping scientific rationale.
• Sage Therapeutics: CNS-focused biopharma with Zurzuvae (zuranolone) approved for postpartum depression and a deep depression pipeline. Comparable as a developer of novel CNS depression therapeutics with established FDA approval and commercial infrastructure experience.
• GH Research: Clinical-stage company developing novel psychedelic-based therapies (5-MeO-DMT) for depression, with focus on treatment-resistant indications. Comparable as a competitor in the novel-mechanism CNS depression therapeutics category.
• MindMed: Clinical-stage company developing psychedelic-inspired therapies for mental health, with active programs in anxiety and depression. Comparable as a peer in the psychedelic-adjacent CNS treatment space with overlapping scientific and regulatory pathways.

Broad incumbents

• Johnson & Johnson Innovative Medicine: Large pharmaceutical company whose Janssen unit owns Spravato. Comparable as a broad incumbent controlling the leading approved ketamine-based TRD therapy, and a likely strategic acquirer, partner, or major competitive threat for Tasman.
• Eli Lilly: Major pharmaceutical company with a broad CNS portfolio and significant depression franchise. Comparable as a broad incumbent that could enter or expand in TRD through internal development (e.g., psychedelic-adjacent programs) or acquisition of smaller players including Tasman.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/tasmantherapeutics
• Facebookfacebook.com/TasmanTherapeutics

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tasman Therapeutics