MONMOUTH JUNCTION, N.J., Aug. 5 /PRNewswire/ -- MicroDose Technologies Inc. (MicroDose) today announced that the first clinical milestone in its collaboration with Merck & Co., Inc., through a Merck affiliate, has been achieved, triggering the first payment under the global license agreement for MicroDose's dry powder inhaler (DPI) technology announced in March 2008. This milestone signals the initiation by Merck of a Phase I clinical study of an investigational compound using the MicroDose DPI technology.
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As previously announced, Merck will fund development and commercialization of products that employ MicroDose's DPI technology for the administration of Merck compounds. In addition to the upfront payment received upon commencement of the collaboration, MicroDose is eligible for additional milestone payments on this product and for the development of other products and royalties on revenues from all products developed under the license.
"MicroDose is proud to announce the start of the study by Merck which, in fact, represents the second human clinical study to be initiated under a U.S. Investigational New Drug application using our inhaler technology in the last 18 months" commented David Byron, Vice President of Research and Development, MicroDose. "Achieving this milestone with Merck so quickly is a strong indicator of the excellent working relationship that underpins this collaboration."
About the MicroDose DPI
The MicroDose DPI is among a number of key proprietary drug delivery platforms developed by MicroDose. By employing piezo electronics, the MicroDose DPI has the potential to deliver enhanced performance for efficient and reproducible delivery independent of patient coordination, inhalation rate and posture, features MicroDose hopes will be confirmed through clinical trials. MicroDose believes that the flexibility of the inhaler makes it a true platform technology, able to support a broad pipeline of products across the spectrum of patient populations and therapeutic categories.
About MicroDose Technologies
MicroDose Technologies, Inc., based in Monmouth Junction, New Jersey, is a leading privately-held drug delivery systems company, developing advanced pulmonary, fixed-dose-combination oral dosage, and other technologies for the pharmaceutical and biotechnology industries.
In addition to the collaboration with Merck, MicroDose's other partnerships include; a multi-product development and licensing agreement with Novartis, the development of an inhaled insulin product through MicroDose's QDose joint venture, and an inhaler for the systemic delivery of a nerve agent antidote for the U.S. Department of Defense, in collaboration with the University of Pittsburgh. MicroDose has ongoing feasibility programs with other major pharmaceutical companies and is also conducting internal development programs for products employing its inhaler technology, and for combination oral dosage products employing its PolyCap(TM) technology, in the
areas of diabetes, hypertension and hyperlipidemia. For more information visit us at http://www.microdose-tech.com
CONTACT: Scott Fleming, Sr. Vice President, Marketing of MicroDose
Technologies, Inc., +1-732-355-2114
Web site: http://www.microdose-tech.com/
