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news.Cenomed BioSciences, a majority-owned subsidiary of Abraxis BioScience, has signed an exclusive collaboration and licensing agreement with ThioPharma to develop and commercialize drug delivery technology, which will be developed for use with certain of Cenomed's psychiatric and neurological disease programs.
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Under the terms of the agreement, ThioPharma will receive an upfront payment and milestone payments upon achievement of certain development and regulatory events. Cenomed has also agreed to collaborate with ThioPharma as part of the development of the technology. Financial terms were not disclosed.
The technology is based on the discovery of new compounds, compositions and methods that can be used to link to a therapeutic agent to allow for the directed delivery of the therapeutic agent to the site of action in the human body.
John Schloss, CEO and CSO of ThioPharma, said: “We at ThioPharma are pleased to be working with Cenomed BioSciences for future development of our proprietary drug delivery technology.”