TransPharma Medical Ltd., an Israeli drug delivery company that develops unique transdermal drug delivery platforms, announced today that it has signed a long-term development, distribution and supply agreement with Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA).
The two companies will jointly develop transdermal drug delivery systems for up to five selected molecules.
"This agreement has great significance for our company as well as for the drug delivery industry in general," said TransPharma CEO Dr. Daphna Heffetz. "This strategic partnership has the potential to bring to the market an innovative system that enables transdermal delivery of complex drugs such as high molecular weight proteins."
No financial terms were disclosed but the partners stated that the terms are expected to yield long term value.
Under the agreement, Teva will exclusively market each transdermal drug delivery system worldwide, and will pay TransPharma milestone payments, royalties, and development costs. The development process will be carried out in cooperation between the two companies. TransPharma is also in contact with other companies for developing transdermal drug delivery systems for other molecules not included in the Teva-TransPharma agreement.
"Teva is pleased to enter into this partnership. Transdermal delivery of therapeutic proteins has always been an important objective, which may provide patients with a convenient replacement to injections," said Teva VP strategic business planning and new ventures Dr. Aharon Schwartz. "We believe that with TransPharma's technology, Teva will be able to bring to the market added-value biogenerics."
TransPharma has modified and applied medically proven RF cell ablation technology to develop a unique way to accurately and safely create micro-channels in the skin's outer surface and enable transdermal delivery of drugs that cannot be delivered using previously existing technologies.
This enables a wide variety of small molecules, biotech drug molecules, vaccines and other macromolecules, specially formulated in patches, to pass through the skin barrier at therapeutic levels and into the systemic circulation. This patented technology is employed in TransPharma's drug delivery system, called ViaDerm, which enables painless, low-cost, user-friendly drug delivery through the skin. Suitable for home use, it consists of a reusable battery-operated handheld device and a patch containing a drug.
The system successfully tested in pre-clinical and clinical trials to improve the administration of a wide variety of molecules, including proteins and other macromolecules.
Published by Globes [online], Israel business news - www.globes.co.il - on Wednesday, January 05, 2005