Asian Pharmaceutical Firm to Evaluate IntelliGel
Redwood Pharma has signed a Materials Transfer Agreement where an Asian pharmaceutical firm will obtain IntelliGel for the purposes of evaluating the drug delivery platform for new products within ophthalmology.
IntelliGel and its manner of delivering actives substances to the front of the eye offers a host of advantages in comparison to other technologies (formulations). IntelliGel is a part of Redwood Pharma’s new drug candidate RP101, a treatment for chronic dry eye disease in postmenopausal women, but can be used in other eye medicines as well.
The agreement does not result in any payments to Redwood Pharma, and upon a successful outcome of the evaluation both sides will need to enter into an agreement where our counterpart will obtain a license to use IntelliGel in the relevant product in exchange for payment.
”This early agreement with an established company, as well as a growing market, certifies the value of the IntelliGel platform. The agreement further confirms our business model to not not only develop our own eye medicines. We in senior management are enthusiastic about the commercial potential that IntelliGel represents,” states CEO Martin Vidaeus.
IntelliGel is Redwood Pharma’s exclusive technology for delivering drug to the front of the eye with a new hydrogel based on poloxamers and water. IntelliGel is applied as eye drop and gels on contact with the eye. This transparent, lubricating, reversible thermogel can increase the bioavailability of the active substance, as the gel holds the drug in the eye longer. This, in turn, allows for a reduction of the amount of active substance administered, a reduction in the number of doses and possible side effects related to the active substance. IntelliGel is currently used in dermatological products sold commercially in the US and China. IntelliGel can be used for prescription products as well as for OTC products.
This information is information that Redwood Pharma AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, February 26, 2018.
For more information:
Martin Vidaeus, CEO Redwood Pharma AB (publ.)
Tel: +46 (0) 70 232 29 29
About Redwood Pharma
Redwood Pharma develops ophthalmic products for unmet medical needs. The Company’s first project is the development of drug candidate RP101 with a known active substance against chronic dry eye in postmenopausal women who have moderate to severe symptoms. With the drug delivery platform IntelliGel® the release of active substances is controlled. Through the use of IntelliGel, Redwood Pharma can also improve dosing of other established drugs. Redwood Pharma’s strength lies in formulation and early clinical development. Revenues will be generated through licensing agreements with pharmaceutical companies that have capabilities to manufacture and sell commercial products worldwide.
Redwood Pharma AB (publ.) is listed on AktieTorget, a Swedish Multilateral Trading Facility (Ticker: REDW.ST, ISIN: SE008294789).
For more information visit: www.redwoodpharma.com