Banner Pharmacaps Inc. and JDS Pharmaceuticals LLC Announce License and Supply Agreement
HIGH POINT, N.C.--(BUSINESS WIRE)--May 30, 2007 - Banner Pharmacaps Inc. and JDS Pharmaceuticals LLC announced today that they have entered into an agreement for JDS to commercialize Banner's novel softgel formulation of Valproic Acid. Banner's New Drug Application for Valproic Acid Delayed Release, based on its patent-pending EnteriCare(TM) technology, was accepted by the FDA on February 20, 2007, with approval anticipated in October, 2007. Product launch is planned for the first quarter of 2008. Terms of the agreement between the two privately-held companies were not released.
"Banner is so pleased to entrust the sales and marketing of our innovative Valproic Acid Delayed Release product to a partner with a dedication to those who struggle with psychiatric illness", said Roger E. Gordon, Ph.D., President and CEO of Banner.
About Banner Pharmacaps Inc.
Banner Pharmacaps Inc. is a global drug delivery and specialty pharmaceutical company which is developing a proprietary portfolio of unique products and oral dosage forms, including softgels and Soflet(R) Gelcaps. Headquartered in High Point, North Carolina, Banner is committed to the research, development, and manufacture of quality healthcare products to serve our global community. Additional information about Banner is available at www.banpharm.com.
The parent company of Banner is VION N.V., an international food group that produces high-quality foodstuffs and ingredients for humans and animals. The group consists of three operating divisions: Ingredients, Fresh Meat and Convenience. VION has annual sales of EUR 7.4 Billion, with 15,150 employees worldwide. The head office of VION is in Son en Breugel, The Netherlands.
About JDS Pharmaceuticals, LLC
JDS Pharmaceuticals, LLC is a specialty pharmaceutical company headquartered in New York City dedicated to improving the lives of people suffering from psychiatric illness.
Drawing on the expertise of their clinical and management leadership as well as alliances within the psychiatric community, JDS identifies, develops, and delivers safe and effective medicines that help patients with a range of psychiatric disorders improve the quality of their lives. Additional information about JDS Pharmaceuticals, LLC is available at www.jdspharma.com
Contact
Banner Pharmacaps
Lisa Crossley, 336-812-7013; lmcrossley@banpharm.com
Posted: May 2007
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