Healthcare Industry News: MonoSol
News Release - March 27, 2007
Adams Respiratory Therapeutics Enters Into License and Collaboration Agreement With MonoSol Rx, LLC
Adams Seeks to Develop New Prescription and OTC Respiratory Products Using MonoSol Rx's Patented Thin-Film Drug Delivery TechnologyCHESTER, N.J., March 27 (HSMN NewsFeed) -- Adams Respiratory Therapeutics, Inc. (Nasdaq: ARxT ) today announced that it has entered into a license and collaboration agreement with MonoSol Rx, LLC, a privately-held, leading drug delivery company that uses edible film as a fast-dissolve oral drug delivery platform to develop prescription and over-the-counter (OTC) products.
Commenting on the agreement, COO Robert D. Casale said, "This collaboration with MonoSol Rx offers Adams another platform technology -- oral thin-film drug delivery -- that can be used to further develop and expand our portfolio of prescription and OTC respiratory products. Currently, there are no prescription respiratory products that employ this unique thin-film drug delivery, and we believe there are several product targets that would benefit from the application of this technology."
Under the terms of the agreement, Adams receives an exclusive, royalty-bearing, non-transferable license from MonoSol Rx to use its proprietary thin-film drug delivery technology to develop and market two or more respiratory products in North America. Adams has already identified, but not yet disclosed, an initial prescription product as a development candidate. In this agreement Adams also gains rights of first refusal to develop a limited number of additional prescription respiratory products. Under a separate product supply agreement, MonoSol Rx has agreed to manufacture and supply finished products that result from the collaboration.
MonoSol Rx is responsible for completing the product development work and will be eligible to receive payments in exchange for completing certain pre- defined development milestones. Adams will be responsible for performing all aspects of clinical development, regulatory submission and commercial operations. Financial terms of the agreement are not being disclosed.
About Adams Respiratory Therapeutics, Inc.
Adams is a specialty pharmaceutical company focused on the late-stage development, commercialization and marketing of over-the-counter and prescription pharmaceuticals for the treatment of respiratory disorders.
Forward-Looking Statements
This press release contains certain "forward-looking" statements, including Adams' ability to apply the oral thin-film drug delivery platform to its current and future products. Such forward-looking statements can be identified by the word "believe," and similar expressions and are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include, among others: Adams' successful consummation of the license and collaboration agreement and the product supply agreement with MonoSol Rx, LLC; Adams' ability to expand its product portfolio in the OTC and prescription drug markets; Adams' ability to successfully utilize the oral thin-film delivery technology in its products and other risk factors set forth Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2006 and under Item 1A. Risk Factors in Adams' Quarterly Report on Form 10-Q for the period ended December 31, 2006. Except to the extent required by applicable securities laws, Adams is not under any obligation to (and expressly disclaims any such obligation to) update its forward-looking statements, whether as a result of new information, future events, or otherwise. All statements contained in this press release are made only as of the date of this release.
Source: Adams Respiratory Therapeutics
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