Contract developer Particle Sciences has nailed down a deal with Actavis ($ACT), lending its drug delivery expertise to the generics giant.
Under the deal, Particle Sciences said it's on tap to handle design, formulation and manufacturing supply for an "unnamed complex generic product," while Actavis will take care of clinical trials, regulatory filings and commercialization. Particle Sciences is due undisclosed payments tied to development milestones and sales targets, the company said.
The deal follows a string of collaborations between the CDMO and Actavis, which pulled in $8.7 billion in revenue last year, and Particle Sciences CEO Mark Mitchnick said the latest agreement's focus on milestones should only deepen that alliance.
"Over the past several years, Particle Sciences has intentionally moved toward closer relationships with our clients by structuring our interactions to best align our respective goals," Mitchnick said in a statement. "This latest venture is a great example, and we are very pleased to have Actavis as our co-developer and marketer."
For Particle Sciences, the Actavis partnership comes on the heels of a similar deal with Hapten Sciences, and, over the past year, the contractor has inked agreements with toxicology specialist Calvert Labs and Chinese CRO Crystal Pharmatech to expand its offerings.
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