COLLEGEVILLE, Pa., April 9 /PRNewswire/ -- NanoSystems LLC today
announced
a three-year feasibility collaboration and license agreement with Warner-
Lambert Company (NYSE: WLA), to develop new pharmaceuticals through the
Parke-
Davis Research division of Warner-Lambert Company. Under the terms of the
agreement, NanoSystems will apply its patented NanoCrystal(TM) drug
formulation technology to develop nanoparticle formulations of proprietary
Parke-Davis compounds for evaluation in preclinical and human clinical
studies. In return, NanoSystems will receive R&D support, milestone
payments,
and royalties on sales of products incorporating NanoCrystal technology.
"NanoSystems' NanoCrystal formulations provide a means for
improving
delivery efficiency and clinical performance of drugs with low solubility,"
said Larry A. Sternson, Ph.D., President and CEO of NanoSystems. "The
partnership with Warner-Lambert Company will result in the application of
this
technology in support of discovery and development of new drugs that because
of the limited water solubility could not otherwise be developed."
Fred Hershenson, Ph.D., Sr. Vice President of Technical Development
for
Parke-Davis Research says he expects the collaboration with NanoSystems "will
allow us to optimize formulations of poorly water soluble drugs to accelerate
their development and commercialization. By utilizing this technology at
early stages of the R&D process, we anticipate that the efficiency and speed
of drug discovery will be significantly enhanced thereby reducing drug
development cycle times."
Parke-Davis, a division of Warner-Lambert Company, is devoted to
discovering, developing, manufacturing and marketing quality pharmaceutical
products. Its central research focus is on heart disease, diabetes,
infectious diseases, disorders of the central nervous system and women's
healthcare. Warner-Lambert Company is a worldwide company employing
approximately 38,000 people, and along with Parke-Davis is headquartered in
Morris Plains, New Jersey.
NanoSystems is applying its expertise in particulate/colloidal
systems to
improve drug delivery via a broad range of dosage forms and across all common
routes of administration. NanoSystems is collaborating with a number of
pharmaceutical and biotechnology companies to develop improved formulations
of
both marketed products and new chemical entities. To date, eight drugs
incorporating the Company's technology have been tested in human clinical
trials. The Company has over two dozen feasibility studies ongoing with
various clients. In addition to Warner-Lambert, the Company has license
agreements with a number of pharmaceutical companies, including Merck & Co.,
Astra Draco AB, Mimetix Inc., and Janssen Pharmaceutica N.V., a subsidiary of
Johnson & Johnson.
CO: NanoSystems LLC; Warner-Lambert Company; Parke-Davis Research
ST: Pennsylvania, New Jersey
IN: MTC HEA
SU: LIC
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