** Shares of Australia's LTR Pharma LTP.AX rise as much as 10.4% to A$0.425, their highest levels since May 2

** The biopharmaceutical firm signs a collaborative agreement with Strategic Drug Solutions

** The agreement is to co-develop OROFLOW, a novel intranasal spray targeting Oesophageal Motility Disorders - a group of conditions that cause impaired swallowing

** Stock has fallen 52.5% so far this year

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))