The companies had previously entered into an agreement in June 2003 to develop an initial prescription steroid product for the US using one of Dow’s patented drug delivery technologies. As part of the expanded collaboration, SkinMedica has obtained the exclusive worldwide rights to this drug delivery technology for use with topical steroids.
The agreement also provides for development of a second steroid product and an option to develop a third product, allowing the company to address the major segments of this market.
Under the terms of the agreement, the companies will be jointly responsible for product development and drug approval and SkinMedica will be responsible for product commercialization.
“Expanding this partnership with Dow Pharmaceutical Sciences is strategically important to SkinMedica since it provides us an opportunity to expand our pipeline of prescription dermatology product candidates and build a multiple product franchise in a key dermatology segment,” said Rex Bright, president and CEO of SkinMedica.