The recently IPO'd Catalent ($CTLT) has signed a deal with biotech Cingulate Therapeutics to help develop a duo of candidates for ADHD, tapping its expertise in crafting controlled-release tablets.
The agreement centers on two preclinical treatments, CTX-1301 and CTX-1302, and Catalent's proprietary drug delivery technology. Dubbed OptiDose, the formulation platform allows for the creation of complex tablets with multiple cores and various options for controlled release.
Using Catalent's capabilities, Cingulate believes its two drugs can address long-standing unmet needs in ADHD treatment. CTX-1301, its most advanced candidate, is slated to complete Phase I/II trials early next year, and the company plans to take both products through the regulatory process on its own.
For Catalent, nearly two months removed from an $871.3 million IPO, deals like the one with Cingulate make up a growing pillar of its growth strategy. The company derives the majority of its revenue from formulation and manufacturing agreements with the likes of Johnson & Johnson ($JNJ) and Pfizer ($PFE), but the New Jersey company has been increasingly striking up alliances with smaller drugmakers.
Now the growing company is expecting to project revenue as high as $1.9 billion for fiscal 2014, good for nearly 5% growth over last year, and adjusted net income of up to $225 million, which would be a 58% leap over 2014.
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