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Cenomed BioSciences Announces Licensing Agreement with ThioPharma

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Cenomed BioSciences, LLC, a majority-owned subsidiary of Abraxis BioScience, Inc. has announced that it has signed an exclusive collaboration and licensing agreement with ThioPharma, Inc. to develop and commercialize drug delivery technology, which will be developed for use with certain of Cenomed’s psychiatric and neurological disease programs.

Under the terms of the agreement, ThioPharma will receive an upfront payment and milestone payments upon achievement of certain development and regulatory events. Cenomed has also agreed to collaborate with ThioPharma as part of the development of the technology.

"We at ThioPharma are pleased to be working with Cenomed BioSciences for future development of our proprietary drug delivery technology," said Dr. John Schloss, CEO and CSO of ThioPharma, Inc. Additional financial terms were not disclosed.

The technology is based on the discovery of new compounds, compositions and methods that can be used to link to a therapeutic agent to allow for the directed delivery of the therapeutic agent to the site of action in the human body.

“Particularly useful to Cenomed is the potential ability of this technology to deliver therapeutic agents across the blood-brain barrier,” said Ernest Pfadenhauer, Vice President of Pharmaceutical Development, Cenomed BioSciences, LLC. "This licensing agreement expands Cenomed’s scope of research and gives us a broader pipeline for developing therapies for unmet medical needs."