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MediVas
Announces Agreement with Merck in Area of Biologics
San Diego, CA -- January 31, 2007 -- MediVas, LLC, a developer of
novel drug delivery platforms, today announced the signing of an exclusive
technology evaluation and exclusive option agreements with Merck & Co., Inc.
The agreements focus on several orally available biologics delivered using
MediVas’ proprietary polymer delivery system.
Under the terms of the agreement, MediVas will receive an
upfront cash payment as well as research funding and milestones during the
evaluation period. Financial terms were not disclosed.
“We are pleased to partner with Merck, whose leadership in
the area of biologics makes them an ideal partner for MediVas," said Kenneth W.
Carpenter, MediVas’ President and CEO. "MediVas’ novel polymer platforms have
the potential to shift the paradigm of biologics delivery and open the door for
a novel generation of therapeutics.”
About MediVas: Using its proprietary family of
biodegradable and biocompatible polymers, MediVas has developed unique platforms
for the delivery of biologics. MediVas is utilizing its novel polymer
technology in collaboration with some of the world's largest pharmaceutical
companies, as well as on its own internal product development efforts, to create
groundbreaking medical advancements. By combining therapeutic proteins and
other biologics with a MediVas polymer, delivery routes that were previously
unattainable, such as oral, intranasal, inhaled or subcutaneous injection, can
now be achieved. With these routes of delivery then available, MediVas’
delivery system can make the administration of the biologic more convenient,
more efficacious and safer, leading to higher patient compliance and overall
better health.
Contact:
MediVas, LLC
Victor E. Vilaplana
Director, Business Development
(858) 622-2005
vvilaplana@medivas.com © MediVas, LLC
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