OR WAIT 15 SECS
BioProgress plc and Magenta Oral Dose Design, a business unit of FMC Corporation, have finalized restructuring agreements regarding the licensing of NRobe technology.
BioProgress plc and Magenta Oral Dose Design, a business unit of FMC Corporation, have finalized restructuring agreements regarding the licensing of NRobe technology. The two companies have agreed to restructure their licensing partnership to more accurately reflect the intended market strategy for the NRobe technology and to accelerate its commercialization.
Under the restructured arrangements BioProgress, the licensor of NRobe, will receive enhanced royalties based upon total NRobe income generated by FMC. FMC retains the exclusive rights to NRobe and will be responsible for the continuing development, commercialization and promotion of this novel oral drug delivery system. BioProgress and FMC will collaborate to endorse the technology in certain pharmaceutical products to be licensed for sale through BioProgress' sales and marketing division Dexo under separate agreements.
NRobe is a solid oral dose system capable of enrobing a variety of powders and particulates within dry polymer films to produce a dose form similar to film-coated or gel-dipped tablets, or two-piece hard capsules. The company argues that this system can deliver benefits such as unique appearance, improved drug release, simplified formulation and processing, and the avoidance of problematic excipients. Development efforts are currently focused on proprietary product applications, commercial scale manufacturing equipment, and novel polymer films. FMC has demonstration NRobe units in the US and Europe.
Richard Trevillion, CEO of Bioprogress stated: "We are pleased to confirm the restructuring agreement with FMC in a spirit of mutual cooperation. It is clear we share a vision of NRobe as an enabling technology for pharmaceuticals that addresses large market needs. We look forward to our continued partnership and close working relationship with FMC."