Abeille Pharmaceuticals, Inc. In-Licenses Worldwide Exclusive Rights To Technology For Transdermal Patch Applications
PRINCETON, N.J., May 3 /PRNewswire/ -- Abeille Pharmaceuticals, Inc. announced today the execution of an agreement granting Abeille worldwide, exclusive rights to a technology platform for all transdermal patch applications. The financial terms were not disclosed. The proprietary technology platform that consists of biodegradable ingredients that help overcome skin's natural barrier properties and enables the rapid penetration of high concentrations of active drug directly through the skin, thereby permitting the formulation and development of new and highly effective transdermal therapies.
"We are extremely pleased to announce the in-licensing of the technology platform. It complements our on-going product initiatives, and allows us to pursue product opportunities that are based on this proprietary platform," stated Suresh Borsadia, President and CEO. "This agreement represents another step forward in the advancement of our strategic plan as a product development company."
"Abeille continues to execute its business plan and recently completed a Phase I study under an U.S. Investigational New Drug (IND) Application for a transdermal anti-emetic product, AB-1001. Based on a preliminary review of the data, the company has initiated activities for a Phase II study, which are expected to be completed by August, 2006," continued Mr. Borsadia. "The Company's plans call for initiating pivotal Phase III efficacy studies in 4Q, 2006."
About Abeille Pharmaceuticals
Abeille Pharmaceuticals, Inc. is a privately held pharmaceutical company based in Princeton, New Jersey. The Company is focused on the formulation of products by applying advanced delivery technologies to existing drugs. These advanced delivery technologies include oral controlled release and transdermal delivery systems. The new products may benefit patients by requiring a lower dose of medicine, reduced side effects and easier administration of medication, thereby encouraging a patient to use the medication as prescribed. Abeille is dedicated to the development and commercialization of products that address unmet medical needs and improve the quality of life for patients. The Company's initial focus will be on drugs used to treat oncology-related discomforts, diabetes and metabolic disorders, and CNS.
For more information, visit our website http://www.abeillepharma.com . For more information contact: Suresh Borsadia President and CEO Phone: (609) 951-2204 Fax: (609) 951-2223 sborsadia@abeillepharma.com
Abeille Pharmaceuticals, Inc.CONTACT: Suresh Borsadia, President and CEO, Abeille Pharmaceuticals,+1-609-951-2204 or Fax: +1-609-951-2223 or sborsadia@abeillepharma.com
Web site: http://www.abeillepharma.com/