MicroDose Technologies Grants Global License to Merck & Co., Inc., for Use of the MicroDose Inhaler with Merck's Proprietary Products
MONMOUTH JUNCTION, N.J., March 03, 2008 /PRNewswire/ -- MicroDose Technologies Inc. (MicroDose) today announced that it has entered into a global license agreement with Merck & Co., Inc., through an affiliate, for use of MicroDose's proprietary dry powder inhaler (DPI) with Merck compounds. This agreement follows the successful completion of an exploratory study evaluating the MicroDose DPI technology.
Under the terms of the agreement, Merck will fund development and commercialization of products that employ MicroDose's DPI technology for the administration of Merck compounds. MicroDose will receive an upfront payment and will be eligible for milestone payments totaling $32 million for successful development of the first product as well as royalties on product revenues. Additional products will also be eligible for milestones and royalties.
"We are delighted to expand our relationship with Merck, who have already proved to be very collaborative and decisive in their actions," commented Scott Fleming, Senior Vice President, Marketing of MicroDose. "This agreement to bring innovative inhalation products to market is a positive milestone in the continued growth of MicroDose and represents further validation of our DPI technology."
"Through this agreement Merck has gained access to a novel delivery technology that has the potential to facilitate the administration of and ensure patient compliance with drug treatments targeting the lungs," said Soren Bo Christiansen, General Manager Bone, Respiratory, Immunology and Endocrine Franchise, Merck & Co., Inc. "This approach is consistent with our leadership strategy of developing respiratory medicines that address unmet medical needs and deliver value to patients, physicians and payers."
About 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, versus other inhalers, for efficient and reproducible delivery independent of patient coordination, inhalation rate and posture. 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.
MicroDose's partnered programs 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 US Department of Defense, in collaboration with the University of Pittsburgh. MicroDose 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, MicroDoseTechnologies, Inc., +1-732-355-2114
Web site: http://www.microdose-tech.com//
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