LOD, ISRAEL, June 14, 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.
Contacts:
TransPharma Medical: Idan Corporate Image Communications:
Naomi Rabbie
Marketing Manager
+972-8-915-2201 x251
naomir@transpharma.co.il
Sivan Shatil
Director, International Communications
+972-9-951-1767
sivan@idancom.com
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