LEXINGTON, Mass.--(BUSINESS WIRE)--March 31, 2004--TransForm Pharmaceuticals, Inc. (TransForm) today announced that it has entered into an agreement with Fort Dodge Animal Health to exclusively license TransForm's proprietary formulation of an anesthetic for veterinary use. This product is expected to have significant clinical and convenience advantages over current veterinary anesthesia products on the market, pending the approval of the Center of Veterinary Medicine and other required regulatory agencies. Under this agreement, Fort Dodge will gain worldwide rights to TransForm's proprietary formulation and will be responsible for commercialization of the product.
"TransForm is pleased to collaborate with one of the leading companies in veterinary pharmaceuticals," commented Duncan Higgons, Chief Commercial Officer. "It is important for us to have such a prestigious and capable partner for commercialization of our out-licensed product, and we are confident that Fort Dodge will maximize the commercial success of our product."
TransForm's formulation is comprised of a unique, non-oil combination of ingredients, and is the result of more than 8,000 automated formulation experiments conducted in less than three months using its FAST(TM) platform. FAST(TM) allows rapid screening of the excipients and excipient combinations to maximize a given API's (active pharmaceutical ingredient) solubility while maintaining its stability. Following discovery of the optimum formulation, TransForm did further development and regulatory work before deciding to out-license the veterinary rights.
"This collaboration represents a key component of TransForm's business strategy, namely out-licensing valuable products that do not fit our strategic focus," said Norman Selby, Chief Executive Officer. "We will continue to build our proprietary product portfolio with a view to either out-licensing or developing them ourselves. We have several exciting opportunities in the pipeline."
TransForm Pharmaceuticals is reinventing the pharmaceutical industry's approach to form and formulation, with a novel set of high-throughput, automated platform technologies, powered by state-of-the-art informatics and a scientific and managerial team with extensive experience in pharmaceuticals. It uses these capabilities to optimize drug form and/or formulations, and increase the clinical and commercial value of pharmaceutical products, across the entire pharmaceutical value chain. For later stage and marketed products, TransForm can help partners enhance product life cycle management by rapidly discovering novel forms and/or formulations to potentially improve bioavailability, broaden intellectual property protection, and enable new dosage forms and/or combination products.
TransForm is also using these capabilities to develop its own proprietary product portfolio. TransForm, founded in late 1999 with initial technology from Millennium Pharmaceuticals (NASDAQ:MLNM), is a privately held company located in Lexington, MA. For more information visit our website at www.transformpharma.com.
TransForm Pharmaceuticals, Inc. Barbara Carter, 781-674-7834 or
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