Healthcare Industry News: Parkinson's Disease
News Release - February 1, 2006
Altea Therapeutics and Teikoku Seiyaku Co. Ltd. Enter into an Agreement for the Development, Manufacture, and Commercialization in Japan of a New Transdermal Therapy for Parkinson's DiseaseATLANTA--(HSMN NewsFeed)--Feb. 1, 2006--Altea Therapeutics announced today that it has entered an exclusive licensing agreement for Japan with Teikoku Seiyaku Co. Ltd. to develop and commercialize a new transdermal patch therapy that utilizes the Altea Therapeutics PassPort(TM) transdermal technology to deliver an active pharmaceutical ingredient for managing Parkinson's Disease.
Under the terms of the agreement, Teikoku Seiyaku will pay Altea Therapeutics a signing fee and additional payments upon completion of certain development milestones. Teikoku Seiyaku will pay undisclosed royalties on net sales and/or net revenues and also fund the cost of Japanese product development. Additionally Teikoku Seiyaku has an option to negotiate terms for exclusive Japanese market rights for certain additional products based on the PassPort(TM) System.
"This is a first in what is expected to be a number of collaborations based on our proprietary PassPort System technology that enables painless, efficient transdermal delivery of sustained therapeutic levels of proteins and water-soluble molecules from a skin patch", stated Eric Tomlinson, President and Chief Executive Officer of Altea Therapeutics. "We are delighted to have Teikoku Seiyaku as our first product development, manufacturing and commercialization partner. We look forward to a long and mutually successful relationship as we work together to develop important new and innovative therapies for the Japanese market."
About Altea Therapeutics
Altea Therapeutics is an emerging private pharmaceutical company focused on developing and commercializing a broad portfolio of pharmaceutical products based on a new class of advanced transdermal patches that deliver sustained therapeutic levels of proteins and highly water-soluble drugs in a convenient, painless, and cost-effective manner.
Altea Therapeutics has demonstrated in several clinical studies that its patented PassPort(TM) transdermal system achieves what existing patches are unable to do, namely the continuous delivery through the skin of proteins and highly water-soluble drugs - compounds typically administered by painful needle injections.
The Company has completed initial Phase 2 clinical trials in the U.S. with a daily hydromorphone patch for the rapid management of moderate to severe pain, and is conducting Phase 1 clinical trials in the U.S. with insulin patches that provide continuous delivery of basal levels of insulin for people with diabetes.
Additional information about Altea Therapeutics can be found at www.alteatherapeutics.com.
About Teikoku Seiyaku
Teikoku Seiyaku Co., Ltd. headquartered in Sanbonmatsu, Higashikagawa, Kagawa, Japan, is the world leader in manufacturing of medicated patches and a pioneer in the field of anti-inflammatory and analgesic plasters. LidodermŽ, Lidocaine Patches sold in the US are developed and manufactured by Teikoku Seiyaku. Teikoku Seiyaku is mainly proceeding in two directions. One is the products based on its innovative TTS technology. The other is the products for pain-relief.
The Teikoku group companies are innovating high-quality drug delivery systems, and developing and manufacturing the final products. Its product range is therefore varied from the medicated patches to unit-dose jellies and liquids, creams, ointments and other delivery products for numerous conditions and applications. Teikoku Seiyaku was founded in 1848 and has been in the pharmaceutical business for nearly 160 years. Further information about Teikoku Seiyaku is available at www.teikoku.co.jp
NOTE: Altea Therapeutics, PassPort, Medicines Made Better are either registered trademarks or trademarks of Altea Therapeutics Corporation, in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders.
The statements in this press release regarding the products of Altea Therapeutics in development, product development plans, and projected financial results, are forward-looking statements involving risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the ability of Altea Therapeutics to both complete the design, development, and manufacturing process development of its products, manufacture and commercialize its products, obtain product and manufacturing approvals from regulatory agencies, manage its growth and expenses, finance its activities and operations, as well as marketplace acceptance of its products.
Source: Altea Therapeutics
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