GLASGOW, Scotland, May 30, 2018 /PRNewswire/ --
BDD Pharma today announced that it has signed an agreement to licenseOralogiK™, its timed drug delivery technology, to Novartis Pharma AG for the development of a new product containing an undisclosed compound. The agreement includes an upfront payment, milestones and future royalties.
BDD's proprietary OralogiK™ technology enables the oral delivery of single, multi-dose or combination drugs at pre-determined times between one and 12 hours after administration to the patient.
This is the first license secured by Glasgow based BDD Pharma, which already has several license options with pharmaceutical companies to develop and apply the OralogiK™ technology to new and existing drugs that would benefit from either delayed or phased delivery.
BDD is uniquely placed to rapidly provide clinical data to pharma companies that have licensed OralogiK™, using its gamma scintigraphic imaging and pharmacokinetic capabilities.
Professor Howard Stevens, Executive Chairman of BDD, said:
"This is a significant step for BDD; our OralogiK™ technology offers wide ranging possibilities for partners to develop new products with complex delivery patterns and to extend product ranges. We look forward to continuing our collaboration with Novartis, aiming to bring the first OralogiK™ product to the market."
The intellectual property surrounding the OralogiK™ proprietary technology is protected by key patents in the major markets worldwide.
Notes to Editors
BDD Pharma Ltd is a privately-owned drug delivery company specializing in the development of modified and controlled release oral formulations. BDD's OralogiK™ technology is a tablet-in-tablet drug delivery system providing timed release, sustained release and the opportunity for complex bi- and tri-phasic release of one or multiple drugs. The OralogiK™ technology is protected with granted patents in the US, EU and Japan. Supported by investment from Archangels and the Scottish Investment Bank, BDD has in house clinical trial capabilities for the conduct of gamma scintigraphic/ pharmacokinetic studies in humans.
For more information visit http://www.bddpharma.com.
This document includes forward-looking statements. These statements relate to the Company's future prospects, developments and business strategies. These forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will" or the negative of those variations, or comparable expressions, including references to assumptions. These statements are contained in all sections of this document. The forward-looking statements in this document, including statements concerning future product development, marketing and commercialization, are based on current expectations and are subject to risks and uncertainties and actual results may differ materially from those expressed or implied by those statements.
These forward-looking statements speak only as at the date of this document and the company assumes no obligation to update any information or forward-looking statement contained herein.
SOURCE BDD Pharma
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