The drug development program, funded and carried out through Spitfire Pharma, will leverage EuMederis’ EuPort technology for optimization of the pharmaceutical properties of peptide drugs.
Velocity Pharmaceutical Development CEO David Collier said, "The EuMederis model of rapid peptide optimization has quickly provided us with an attractive peptide development candidate and its low-infrastructure organization is consistent with our plan for Velocity Pharmaceutical Development."
The terms and therapeutic target of the deal were not disclosed.
EuMederis founding CEO John Nestor said, "We expect that the Velocity model for rapid and focused clinical development programs in relatively flat organizations will find many adherents in the future of biopharmaceutical development."