LONDON (Alliance News) - Midatech Pharma PLC said Friday it had signed a new research collaboration with an undisclosed pharmaceutical company via its joint venture with MonoSol Rx LLC.
Under the deal the joint venture, called MidaSol Therapeutics LP, will work with the partner to evaluate the preclinical effectiveness of its gold-nanoparticle and PharmaFilm transbuccal strip technologies for needle-free delivery of the partner's existing marketed diabetes drug.
Although it did not provide financial details, Midatech Pharma said the deal includes an upfront payment and several performance-driven milestones.
"This collaboration demonstrates the growing interest in the application of our GNP drug-conjugate technology with a range of therapeutic compounds for effective needle-free treatment," said Chief Executive Officer Jim Philips in a statement. "We aim to commercialise such products and ones in our own pipeline through partnerships and licensing opportunities and this agreement demonstrates the continuing successful implementation of our strategy."
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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