Vyteris, Inc. and Zealand Pharma Announce Agreement on Active Transdermal Patch for Peptide Drugs
"This strategic partnership with Zealand Pharma, a recognized leader in peptide drug development, marks another milestone in the active roll-out of our patented smart patch transdermal technology for the delivery of high-value, therapeutic peptides," said Dr. Haro Hartounian, president and chief executive officer of Vyteris, Inc.
"Needle-free, tightly controlled delivery of peptides via active, transdermal patches is an innovative and patient-friendly route of administration which can lead to increased safety and compliance. Our ongoing female infertility project with Ferring Pharmaceuticals, Inc. has now entered clinical phase II, and we hope to continue this success in transdermal peptide delivery with our new partner Zealand Pharma," Hartounian added.
In the first phase of this collaboration, the companies will test the feasibility of smart patch-based transdermal delivery of a peptide drug candidate in animal models. Upon completion of this study, the companies could decide to further develop and commercialize this peptide or other peptide therapeutics in Zealand Pharma's product portfolio.
"In working with Vyteris and its transdermal delivery technology, we believe this represents a strong collaborative effort to develop innovative new methods of peptide drug delivery that may have significant advantages in efficacy, patient compliance and tolerability," said David Solomon, chief executive officer of Zealand Pharma. "With our peptide-based drugs aimed at treating unmet medical needs, we are eager to conduct this feasibility study and apply our knowledge of peptide optimization to Vyteris' transdermal delivery technology."
About Vyteris, Inc.
Vyteris, Inc. is the maker of the first active, ready-to-use drug delivery patch (LidoSite®) to receive marketing clearance from the U.S. Food and Drug Administration (FDA). Vyteris' proprietary active transdermal smart patch technology delivers drugs comfortably through the skin using low-level electrical energy (iontophoresis). This smart patch technology allows precise dosing, giving physicians and patients control in the rate, dosage and pattern of drug delivery that may result in considerable therapeutic, economical, and lifestyle advantages over existing methods of drug administration. Vyteris recently announced success in non-invasive delivery of a peptide using its system, where the company demonstrated achievement of therapeutic levels of a peptide without using any needles. For more information, please visit us at www.vyteris.com.
About Zealand Pharma A/S
Zealand Pharma is a biopharmaceutical company dedicated to the discovery and development of innovative peptide-based drugs. Zealand Pharma is one of the leaders within the peptide area, a growing market with significant drug development activities including treatment of metabolic and cardiovascular diseases. All of Zealand Pharma's products target diseases and symptoms of significant unmet clinical need and commercial potential.
Since 1999, Zealand Pharma's scientists have built a pipeline that includes five compounds in clinical development, three of which have been out licensed to major pharmaceutical companies (Sanofi-Aventis, Wyeth and Helsinn Healthcare). All Zealand Pharma's compounds emerge from Zealand Pharma's own drug discovery.
In addition, Zealand Pharma has a rich and broad portfolio of pre-clinical projects targeting a variety of disease areas, including osteoporosis and obesity-related diabetes. Zealand Pharma is based in Copenhagen and has approximately 65 employees. The Company's investors include BankInvest Biomedical Venture, LD Pensions, Dansk Erhvervsinvestering and Sunstone Capital as well as the leading international biotech investors CDC Innovation and AGF Private Equity (both in Paris) and LSP (Amsterdam).
Vyteris Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "anticipate," "intend," "plan," "may," "will," "could," "would," "should," "believes," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include, without limitation, statements concerning the potential impact of the new marketing agreement and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others, the competitive environment and competitive responses to the new marketing arrangement. The Company has described other important risks and uncertainties under the caption "Risk Factors" in its most recent Annual Report on Form 10-K and in various filings made with the SEC. Actual results may differ materially from those contained in the forward-looking statements in this press release. Contact:
Joseph Himy Chief Financial Officer Vyteris, Inc. Tel: (201) 300-1160
Mogens Vang Rasmussen Chief Executive Officer & Chief Financial Officer Zealand Pharma A/S Tel: 45 4328 1200 Email: Email Contact