MediVas Announces Achievement of Milestone in Connection With Merck Agreement
SAN DIEGO, April 03, 2007 /PRNewswire/ -- MediVas, LLC, a developer of novel drug delivery platforms, today announced the achievement of a milestone relating to its previously disclosed agreement with Merck & Co., Inc. The milestone was specifically connected to one of the several orally available biologics that are the focus of the collaboration. Under the terms of the agreement, MediVas will receive an undisclosed cash payment from Merck for achievement of the milestone.
"We are pleased to have achieved this milestone ahead of schedule," said Kenneth W. Carpenter, MediVas' President and CEO. "This is an important accomplishment for MediVas and further demonstrates the capabilities of our polymer delivery platform, particularly for the delivery of biologics. We look forward to continuing our fruitful relationship with Merck and to moving on to the successful completion of other important milestones during the collaboration."
About MediVas: Using its proprietary family of biodegradable and biocompatible polymers, MediVas has developed unique platforms for the delivery of biologics. MediVas is utilizing its novel polymer technology in collaboration with some of the world's largest pharmaceutical companies, as well as on its own internal product development efforts, to create groundbreaking medical advancements. By combining therapeutic proteins and other biologics with a MediVas polymer, delivery routes that were previously unattainable, such as oral, intranasal, inhaled or subcutaneous injection, can now be achieved. With these routes of delivery then available, MediVas' delivery system can make the administration of the biologic more convenient, more efficacious and safer, leading to higher patient compliance and overall better health.
Contact:
MediVas, LLC
Victor E. Vilaplana
Director, Business Development
(858) 622-2005
vvilaplana@medivas.com
CONTACT: Victor E. Vilaplana, Director, Business Development of MediVas,LLC, +1-858-622-2005, vvilaplana@medivas.com
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