Pain Therapeutics, Inc. announced that it has entered into an academic collaboration with UT Austin in support of a product candidate aimed at pain management, abuse and addiction. The collaboration brings together the Company and UT Austin’s respective scientific expertise and capabilities, with a focus on validating a new technological innovation. The scope of work encompasses research and development to establish proof-of-concept around a well-known, and undisclosed, drug of abuse. UT Austin will lead the research program in accordance with technical milestones specified by the Company. Pain Therapeutics owns worldwide development and commercial rights to the undisclosed product candidate that is the subject of this collaboration, without royalty or milestone obligations to any third-parties. This collaboration is unrelated to REMOXY ER (oxycodone).