GRONINGEN, The Netherlands, October 22, 2013 /PRNewswire/ --
InnoCore Pharmaceuticals today announced that it has signed an exclusive License and Collaboration Agreement with Allergan, Inc. (NYSE: AGN), a multi-specialty health care company headquartered in Irvine, California.
Under the agreement, the companies will expand their existing collaboration and jointly continue to develop long-acting ocular drug delivery products for the treatment of ophthalmic diseases. Utilizing its patented SynBiosys® polymeric drug delivery platform, InnoCore will formulate Allergan's proprietary drugs into pharmaceutical products expected to be capable of sustained release for many months following a single ocular injection. The SynBiosys® drug delivery platform is based on novel biodegradable multi-block co-polymers with unique molecular architectures that allow precise and site-specific delivery of drugs for predetermined periods of time, ranging from weeks to many months.
Jan Hendriks, Chief Executive Officer of InnoCore Pharmaceuticals commented: "We are very excited that we have expanded this important partnership with Allergan, a company that is widely recognized as a leading company in the development of controlled release ophthalmology medicines. Expanding our partnership with Allergan is a great opportunity for us to further grow InnoCore in line with our ambitions."About InnoCore Pharmaceuticals: InnoCore Pharmaceuticals is a specialty pharmaceutical company focused on the development and manufacturing of long acting injectable drug delivery products for the treatment of chronic diseases. Utilizing its proprietary drug delivery technologies such as its unique SynBiosys® polymer platform, InnoCore develops biodegradable sustained release depots for precisely controlled delivery of therapeutic compounds. Depot technologies include microspheres, solid implants, coatings and gels. Since its inception in 2003, InnoCore has successfully established partnerships with biomedical, biotech and pharmaceutical companies throughout the world to develop sustained release depot formulations for small molecules, peptides and therapeutic proteins, including long-acting specialty generics. Over the years InnoCore's versatile SynBiosys® platform has shown its safety and effectiveness in several pre-clinical and clinical trials. Earlier this year, the first product with InnoCore's SynBiosys® drug delivery technology incorporated received regulatory approval and is now available in the clinic.