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news.US-based specialty pharmaceutical company Antares Pharma has signed a development agreement with Dr Reddy's Laboratories for the development of an innovative, topically applied product, using Antares's ATD gel platform, targeting specific receptor sites within the skin.
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As part of the overall understanding between the parties, Antares will be responsible for development and commercial manufacturing of the product and Dr Reddy’s will be responsible for clinical development and marketing. Dr Reddy’s will market the product through Promius Pharma, its US based specialty dermatology business, upon final approval.
Under the terms of this agreement, Antares will receive fees for all its development activities. Upon successful completion of this development, a license and supply agreement will be executed by the parties. The license and supply agreement would include mutually agreed upon upfront and milestone payments, product sales and royalties.
Jack Stover, CEO of Antares Pharma, said: “We look forward to developing another novel product utilizing our FDA approved ATD gel with our partner Dr Reddy’s. In addition, this project signifies the initiation of utilizing our ATD system to deliver active ingredients topically, and not systemically, demonstrating the flexibility of our platform in the therapeutic field of dermatology.”