MONMOUTH JUNCTION, N.J.--(BUSINESS WIRE)-- MicroDose Therapeutx, Inc. (MicroDose) today announced that a development milestone in its collaboration with Novartis has been achieved, triggering a payment under the multi-product development and licensing agreement for the MicroDose proprietary dry powder inhaler (DPI). This milestone signals the successful incorporation of MicroDose’s DPI technology into a Novartis platform pulmonary device.
As previously announced, under the terms of the agreement Novartis is funding development and commercialization of products that employ MicroDose’s DPI technology for the administration of Novartis’ proprietary respiratory compounds. In addition to the upfront payment received, MicroDose is eligible for additional milestone payments and royalties on product sales.
“MicroDose is pleased to announce the achievement of this milestone” commented David Byron, Vice President of Research and Development, MicroDose. “The collaboration with Novartis has yielded a platform embodiment of MicroDose’s DPI technology for Novartis to use in advancing development of a number of their proprietary respiratory pipeline products”
About the 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 Therapeutx
MicroDose Therapeutx is a private pharmaceutical company dedicated to improving the quality of life for people suffering from serious diseases. The company focuses on developing proprietary products that address large unmet market opportunities, and on pulmonary and oral drug delivery platforms. The company develops its products and technologies independently, as well as in partnership with leading pharmaceutical companies. MicroDose’s current pipeline targets respiratory diseases such as asthma, COPD and respiratory syncytial virus (RSV), as well as IBS-C and constipation. More can be found at our website; www.mdtx.com.
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INDUSTRY KEYWORDS: Health Biotechnology Medical Devices Pharmaceutical