SCOLR Pharma and Dr. Reddy’s Laboratories Enter into Collaboration and License Agreement
News Oct 24, 2007
SCOLR Pharma, Inc. has announced that it has entered into a collaboration and license agreement with Dr. Reddy’s Laboratories. The parties will pursue the development and commercialization of an undisclosed oral prescription drug with significant potential for the cardiopulmonary market utilizing SCOLR Pharma’s CDT® technology.
Under the terms of the agreement, Dr. Reddy’s will be responsible for the development, manufacturing and marketing of the drug product. SCOLR Pharma will be responsible for the formulation and assisting with product scale-up activities.
The agreement provides double digit participation in net profits for SCOLR Pharma after recovery of development and commercialization expenses associated with the potential product. Other financial terms of the agreement have not been disclosed.
Daniel O. Wilds, President and CEO of SCOLR Pharma, Inc., said, “We are very pleased that Dr. Reddy’s has chosen to establish a relationship with SCOLR Pharma and has recognized the strength of our drug formulation platform. We hope that this is the first of several development targets suitable for future collaboration."
"Our research has demonstrated the applicability of our CDT technology to improve the release profile and increase the oral bioavailability of poorly soluble existing and new drug compounds," Wilds continued.
"We believe that these capabilities address some of the greatest challenges the pharmaceutical industry faces for more effective oral delivery of pharmaceutical products. As a global pharmaceutical company with significant expertise in manufacturing, sales, marketing, and product commercialization, Dr. Reddy’s is a compelling and complementary development partner for SCOLR.”