Teikoku Pharma USA Acquires Travanti Pharma Inc.
SAN JOSE, Calif.--(BUSINESS WIRE)--May 8, 2009 - Teikoku Pharma USA Inc., the international specialty pharmaceutical company, today announced that it has acquired effective May 8, 2009 Minneapolis area based Travanti Pharma Inc, a privately held corporation that designs, develops and markets innovative drug delivery platforms that improve the safety, compliance, effectiveness and ease of administration of medications delivered to the body.
The Company has developed a proprietary Wearable Electronic Disposable Drug delivery technology (WEDD®) Platform. WEDD is an innovative electronic transdermal (iontophoretic) drug delivery system that is totally self-contained, single-use, portable and disposable. The company has a number of ready to partner clinical projects focused on improving the delivery of therapeutic medications.
The acquisition is part of Teikoku's core strategy to develop transdermal pharmaceutical products by applying drug delivery technology to make administration of medicines safer and/or more effective, more controllable, and in some cases eliminating the need for injection.
“The acquisition of Travanti Pharma broadens Teikoku's Transdermal delivery capabilities and enhances Teikoku pipelines in the areas of pain and CNS,” said Masahisa Kitagawa, President and CEO.
“We are very pleased to join forces with Teikoku, a company that understands our business well and has the capabilities to help move several excellent products based upon Travanti's WEDD technology into the marketplace,” commented Robert Cohen, President & CEO of Travanti Pharma. “It is gratifying to complete a transaction that benefits Teikoku, as well as Travanti's shareholders and employees.”
Teikoku Pharma USA Inc., a wholly-owned subsidiary of Teikoku Seiyaku Inc. of Japan, is a specialty pharmaceutical company that develops, and manufactures enhanced pharmaceutical products based on its transdermal drug delivery technologies. Teikoku focuses its efforts in two therapeutic areas; Pain Management and CNS. Teikoku's main product is Lidoderm® (Lidocaine 5% Patch) for PHN, in collaboration with Endo Pharmaceuticals in the US, Grunenthal GmbH in Europe, Mundipharma in South East Asia and SK Pharma for Korea.
Teikoku's commitment is to expand transdermal technologies for the benefit of patients and partners. For more information, please visit www.teikokuusa.com.
Contact: Teikoku Pharma USA Inc.
Francisco M. Bejar, 408-501-1804
Posted: May 2009