Recipharm Makes Strategic Investment in Synthonics
News Apr 15, 2015
Recipharm has announced that it has made an equity investment in Synthonics Inc and purchased $2.0 million of preferred stock in the company.
A further $2.0 million of preferred stock will be purchased upon Synthonics’ achievement of certain milestones, which could be expected during 2016. In addition, Synthonics and Recipharm have entered into a Joint Development Agreement under which Synthonics gains access to Recipharm’s expertise in drug development, marketing and manufacturing in exchange for a royalty payment on certain of Synthonics’ compounds.
Synthonics has developed a unique drug delivery technology for metal coordination of pharmaceutical APIs. In connection with its investment, Recipharm’s Carl-Johan Spak has joined Synthonics’ board of directors.
Ken Slepicka, CEO of Synthonics, said: “Synthonics is delighted to extend the partnership with Recipharm to help advance promising molecules to market. We are very impressed with Recipharm’s formulation and development teams and expect this agreement and financial support to help us further advance several of our current projects to commercialization.
Carl-Johan Spak, Executive Vice President, Technology and Development, commented: “This transaction expands our footprint within the US and builds upon our existing Joint Marketing Agreement with Synthonics. In addition, it gives us an opportunity to share in the upside of Synthonics’ chemistry, which we believe offers an elegant and cost-effective means to create patentable drugs that address difficult absorption and delivery issues. We believe that this collaboration will enhance our ability to serve our customers with exciting drug delivery solutions.”
Methane Hydrate Formation Studied Using Novel MicroreactorNews
Researchers at the NYU Tandon School of Engineering are using a novel means of studying how methane and water form methane hydrate that allows them to examine discrete steps in the process faster and more efficiently.READ MORE
First Ever Online Event Focused on Cannabis ScienceNews
Analytical Cannabis is pleased to announce that the final line-up of speakers for the first ever cannabis science online event, The Science of Cannabis 2017 has been confirmed.READ MORE
Vapourtec Collaboration with NPM Drives New Flow TechnologyNews
Flow chemistry engineering specialists Vapourtec (UK) have been engaged in a successful collaboration with New Path Molecular Research Ltd (NPM), focusing on the development of new reactor technology and methods for peptide synthesis.READ MORE