Capricorn Pharma Inc. and TEVA Pharmaceuticals USA Enter Into Agreement

FREDERICK, Md.--(BUSINESS WIRE)--S. Rao Cherukuri---Founder, President and Chief Executive Officer of Capricorn Pharma Inc., announced today that his company has an agreement with Teva Pharmaceuticals USA to develop products using Capricorn’s proprietary KORKOAT technology platform.

KORKOAT beads accommodate high drug loads; modified drug release can be achieved by incorporating release-modifying agents inside the bead, in the coating, or in both.

“We are honored and pleased to have this agreement with Teva,” Mr. Cherukuri said. “We are proud of our technologies, which offer flexible solutions to difficult formulation challenges. We believe this agreement further validates our commercialized oral drug delivery technology platforms and Capricorn’s proprietary encapsulation processes.”

Terms of the agreement were not disclosed.

About Capricorn Pharma Inc.

Frederick, Maryland-based Capricorn Pharma is a specialty oral drug delivery systems company that develops, commercializes, and manufactures pharmaceutical products. The company has five commercialized oral drug delivery technology platforms and seven commercialized encapsulation processes.

Contact:

Capricorn Pharma Inc. Nivaran Kapur (T)301.696.1452 nivarank@capricornpharma.com www.capricornpharma.com

Source: Capricorn Pharma Inc.