ULURU Inc. Announces Strategic Joint Development Agreement With BioProgress plc
DALLAS, May 4 /PRNewswire-FirstCall/ -- ULURU Inc. ("ULURU") today announced that it has signed a joint strategic development agreement with the specialty pharmaceutical and healthcare company, BioProgress plc . The companies will initially work together to develop an anti-emetic product for the relief of nausea, using a combination of BioProgress' film technology and ULURU's Oradisc(TM) drug delivery technology. This relationship will then go on to develop further therapeutic products.
ULURU is focused on the development of a portfolio of wound management, plastic surgery and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery. ULURU's OraDisc(TM) technology is an innovative erodible film technology that sticks to mucous membranes that allows sustained release of actives into the systemic circulation over a period of several hours.
The new products are expected to resemble BioProgress' in-the-mouth range of films strips, which dissolve instantly, releasing the embedded active ingredients. However, by adding the Oradisc(TM) technology to these films, the resulting products will not only be fast acting, but will also offer sustained release of actives over several hours. These new products will therefore have properties that neither technology could achieve on its own.
Patients with nausea are often unable to take tablets effectively, so an in-the-mouth instant release anti-emetic offers a good solution to treat acute nausea and the OraDisc technology provides a longer term solution to the problem. This is a therapeutic area with a large unmet need. BioProgress have a large amount of in-house expertise in this area and ULURU has significant experience in the development of film technology through FDA approval.
Richard Trevillion, CEO of BioProgress, said: "We are delighted to be entering a strategic partnership with ULURU. The technologies from both companies are complementary and can work in combination to create products with both instant release and sustained release characteristics. This approach has the potential to create real therapeutic value and enhance the effectiveness of medicines."
Kerry Gray, President and CEO of ULURU Inc. stated, "This partnership is exciting for both companies as we can access the development strengths and resources of both groups. Our ability to combine instant release with sustained delivery over an extended period has the potential to create considerable value. We will be applying proven technologies to existing medicines with the objective of dramatically improving the resultant profile."
About ULURU Inc.:
ULURU Inc. is an emerging specialty pharmaceutical company focused on the development of a portfolio of wound management, plastic surgery and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative transmucosal delivery system and Hydrogel Nanoparticle Aggregate technology.
About BioProgress plc:
BioProgress plc is an innovative specialty pharmaceutical and healthcare business based around its platform technologies in polymer and film systems. Listed on London's AIM in May 2003 and on US NASDAQ in October 2004, the company has over 80 patents granted or in application within 24 patent families and has product development agreements and strategic alliances with several global companies. As a virtually integrated business, BioProgress has acquired sales and marketing resources within Europe and the US as a launch mechanism for its own pharmaceutical products. The business continues to develop innovative delivery mechanisms using its XGEL(TM) polymer technology, replacing the need to use animal-derived gelatine in pharmaceutical and healthcare products. For further information please go to http://www.bioprogress.com .
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties, including but not limited to statements made relating to the establishment of strategic joint development agreements and the risks and uncertainties associated with product development activities. These statements are subject to numerous risks, including but not limited to the risks detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2004, Quarterly Report on Form 10-Q for the quarter ended September 30, 2005 and other reports filed by us with the Securities and Exchange Commission.
Contact: Company Kerry P. Gray President & CEO Terry K. Wallberg Vice President & CFO (214) 905-5145
ULURU Inc.CONTACT: Kerry P. Gray, President & CEO, or Terry K. Wallberg, VicePresident & CFO, both of ULURU INC., +1-214-905-5145