Two RTP-Based Firms To Partner On New Drug Development
Posted August 31, 2006 5:53 a.m. EDT
RESEARCH TRIANGLE PARK, N.C. — Drug development firms
have signed a licensing deal for drug development focused on diabetes, cardiovascular disease, osteoporosis and osteoarthritis.
Financial terms were not disclosed. Both companies will share in revenues produced by drugs resulting from the partnership.
"We are very excited about working with Zylera, as our patents are very complementary to their own research and development activities," said David Preston, chairman and chief executive officer of Theragenex. "They are well down the road with several science-based pharmaceutical formulations that will benefit patients suffering from chronic diseases. We believe this technology licensing agreement accelerates the potential time to market of these product candidates."
Both companies are based in RTP.