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TransPharma Medical Receives Second Milestone Payment from Teva
Pharmaceutical Industries
LOD, ISRAEL, June 11, 2007 - TransPharma Medical Ltd., a specialty
pharmaceutical company focused on the development and commercialization of drug
products utilizing a proprietary active transdermal drug delivery technology,
announced today it has received its second milestone payment from Teva
Pharmaceutical Industries for the successful development of a stable human
growth hormone (hGH) dry form patch required for advanced clinical trials of
Teva’s transdermal hGH product.
The milestone achieved is in line with the product development plan of hGH,
the first of up to five molecules designated for joint development by
TransPharma and Teva in an agreement originally signed between the two companies
in 2004. Under the agreement, Teva will exclusively market each of the drug
products and will pay TransPharma milestone payments, royalties, and development
costs.
“This second milestone is a significant stride in the development plan of the
hGH transdermal drug delivery system, and also an important achievement for
validation of our proprietary protein patch technology. By formulating dry form
protein patches, we enable a long shelf life for the ViaDerm System products.
Our proprietary patch technology perfectly complements our device, which
together enable accurate transdermal delivery of therapeutic biologics,” said
Dr. Daphna Heffetz, Chief Executive Officer of TransPharma Medical Ltd. “We are
pleased to be collaborating with Teva, a world leader in pharmaceutical
development, and look forward to continued cooperation as we progress in the
development process,” Dr. Heffetz added.
About the ViaDerm System
TransPharma’s ViaDerm drug delivery system incorporates a handheld electronic
device combined with a drug patch. The system provides a cost-effective,
easy-to-use, self-administered solution that enables the safe, reproducible and
accurate delivery of a wide variety of product candidates, including hydrophilic
small molecules, peptides and proteins.
About TransPharma Medical
Established in 2000, TransPharma Medical Ltd. is a specialty pharmaceutical
company focused on the development and commercialization of drug products
utilizing a proprietary active transdermal drug delivery technology. TransPharma
aims to develop multiple drug products through strategic partnerships with
leading pharmaceutical companies and through independent product development.
For more information, visit the Company's website at www.transpharma-medical.com.
Company Contact:
Naomi Rabbie
Marketing Manager
+972-8-915-2201 x251
naomir@transpharma.co.il
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