Antares Pharma, Inc a specialty pharmaceutical company focused on improving pharmaceuticals through advanced drug delivery systems have entered into a development agreement with Dr Reddy's Laboratories, Inc for the development of an innovative, topically applied product, using Antares' ATD Gel platform, targeting specific receptor sites within the skin.
As part of the overall understanding between the parties, Antares will be responsible for development and commercial manufacturing of the product and Dr Reddy's will be responsible for clinical development and marketing. Dr Reddy's will market the product through Promius Pharma, its US-based speciality dermatology business, upon final approval.
Under the terms of this agreement, Antares will receive fees for all its development activities. Upon successful completion of this development, a license and supply agreement will be executed by the parties. The license and supply agreement would include mutually agreed upon upfront and milestone payments, product sales and royalties.
"We look forward to develop another novel product utilizing our FDA approved ATD gel with our partner Dr Reddy's. In addition, this project signifies the initiation of utilizing our ATD system to deliver active ingredients topically, and not systemically, demonstrating the flexibility of our platform in the therapeutic field of dermatology, said Jack E Stover, chief executive officer.
Antares' ATD gel technology is a patent-protected drug delivery system designed for the enhanced skin permeation of therapeutic entities.
Antares Pharma is a specialized pharma product development company committed to improving pharmaceuticals through its patented drug delivery systems.