The US-based Novavax, Inc, a specialty biopharmaceutical company, has stepped into an agreement with Indian pharma major, Ranbaxy to evaluate a new transdermal product.

The product, which is not related to Estrasorb, has been formulated using Novavax's proprietary micellar nanoparticle (MNP) technology.

"This agreement demonstrates the merits of our MNP technology to other companies as a value-added proprietary delivery technology for novel drug candidates. This is an example of the commercial and development opportunities micellar nanoparticle technology offers Novavax and our partners," said Nelson M. Sims, president and CEO, Novavax Inc.

Ranbaxy's payment to Novavax includes funding to complete a proof of concept study. Upon successful completion of the proof of concept study, the companies expect to enter into a broad commercialization and development agreement, a release from Novavax said.

Novavax's micellar nanoparticle technology involves the use of patented oil and water nanoemulsions that allow the topical delivery of drugs. MNP is the basis for Estrasorb, marketed as a topical emulsion that delivers estrogen in a lotion-like formulation for the management of moderate to severe vasomotor symptoms in postmenopausal women.

Novavax sells, markets, and distributes a line of women's health prescription pharmaceuticals through its specialty sales force calling on obstetricians and gynecologists throughout the United States including Estrasorb, its topical emulsion for estrogen therapy, the release added.