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news.Penwest Pharmaceuticals, a drug development company, has signed a second R&D agreement with Japan-based Otsuka Pharmaceutical Co to develop a formulation of an undisclosed Otsuka compound utilizing Penwest's Timerx drug delivery technology.
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Under the terms of the agreement, Penwest Pharmaceuticals will receive undisclosed fees and payments.
Jennifer Good, president and CEO of Penwest, said: “We are pleased to have signed this second R&D agreement with Otsuka. These collaborations around our proprietary drug delivery technologies are important for us both financially and scientifically.
“The deals give us an opportunity to develop compounds we wouldn’t typically have access to and provide financial benefit to Penwest, enabling us to continue developing our own product pipeline.”