Eternity Healthcare and PharmaNova Sign Letter of Intent to Develop New Branded Pharmaceuticals
VANCOUVER, British Columbia and VICTOR, Jul 15, 2013 (GLOBE NEWSWIRE via COMTEX) -- Eternity Healthcare, Inc. ETAH +9.09% , or 'Eternity', a medical device company, announced today that it has signed a letter of Intent with PharmaNova Inc. of New York to develop a new generation of steroids and steroids related pharmaceuticals for rapid subcutaneous absorption. The companies will utilize PharmaNova's NovaSperse nanoparticle technology to enhance the aqueous dissolution of lipid soluble drugs enabling them to be administered using Eternity Healthcare's - Comfort-In(TM) needle-free injection system.
The companies plan to complete the final agreement by September 30 2013. Under the business terms of the agreement both companies shall be responsible to jointly finance the product development and share the revenue 50:50. Further detail of the business deal and commercial structure will become available in the final agreement.
About Eternity Healthcare, Inc.: Eternity Healthcare, Inc. is a Medical Device based publicly traded company ETAH +9.09% . Eternity Healthcare is an Industry Leader in discovery, developing and marketing of medical devices and development of new branded pharmaceuticals using new devices. We are currently focusing on the use of needle-free injection system for delivery of medications subcutaneously. Our products are sold to healthcare professionals, for use in physicians' offices, pharmacies, and to consumers directly. Our products are all manufactured under strict compliance with ISO 9001:2000 and ISO 13485:2003 procedures, with special emphasis on quality control at each and every stage of production. More information on Eternity Healthcare, Inc. can be found on the website. www.eternityhealthcare.com
About PharmaNova Inc.: PharmaNova Inc. is a New York based specialty drug development company founded on the re-purposing and enhancement of known drugs using proprietary NovaSperse nanoparticle technology and other complementary formulation and drug delivery technologies. More information on PharmaNova Inc. can be found on the website: www.Pharmanovaco.com
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