Press Releases
4 March
PolyTherics expands Collaboration with Biocompatibles and grants Option for Product Commercialisation Licences
PolyTherics Ltd ("PolyTherics"), a biopharmaceutical spin-out company from Imperial College London and the London School of Pharmacy that specialises in the targeted application of polymers to biopharmaceuticals, today announced the expansion of its collaboration with Biocompatibles International plc ("Biocompatibles"), a leading medical technology company in the field of drug device combination products.
Under the terms of the collaboration agreement, PolyTherics will explore the biological effects on proteins of Biocompatibles' proprietary phosphorylcholine ("PC") drug delivery technology. This new study builds on the companies' established success in applying their respective technologies to the development of protein-based products.
PolyTherics has also granted Biocompatibles an option to develop and commercialise PC-based products utilising PolyTherics' proprietary linker technology and intellectual property. Upon the exercise of its option and entry into a product commercialisation agreement, Biocompatibles will pay PolyTherics a royalty on net income resulting from PC-based products that utilise PolyTherics' technology. No financial details were disclosed.
Dr Keith Powell, Chief Executive Officer of PolyTherics, said: "We are very pleased to extend our collaboration with Biocompatibles, as it has already proved to be highly productive and successful. The future prospect of Biocompatibles exploiting our collaboration IP to commercialise products is an exciting step towards our shared vision of creating novel and effective biopharmaceuticals."
Dr Peter Stratford, Managing Director of Biocompatibles' Farnham Product Development Centre, commented: "PolyTherics has been able to provide valuable complementary skills to those of the team here and we look forward to continuing the projects together."
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4 March 2008
