InnoCore Pharmaceuticals Enters into Exclusive License Agreement with Allergan Related to Development of New Medicines for Ophthalmic Diseases
Groningen, The Netherlands, October 22, 2013 - InnoCore Pharmaceuticals today announced that it has signed an exclusive License and Collaboration Agreement with Allergan, Inc. (NYSE: AGN), a multi-specialty health care company headquartered in Irvine, California. Under the agreement, the companies will expand their existing collaboration and jointly continue to develop long-acting ocular drug delivery products for the treatment of ophthalmic diseases. Utilizing its patented SynBiosys® polymeric drug delivery platform, InnoCore will formulate Allergan's proprietary drugs into pharmaceutical products expected to be capable of sustained release for many months following a single ocular injection. The SynBiosys® drug delivery platform is based on novel biodegradable multi-block co-polymers with unique molecular architectures that allow precise and site-specific delivery of drugs for predetermined periods of time, ranging from weeks to many months.
Jan Hendriks, Chief Executive Officer of InnoCore Pharmaceuticals commented: "We are very excited that we have expanded this important partnership with Allergan, a company that is widely recognized as a leading company in the development of controlled release ophthalmology medicines. Expanding our partnership with Allergan is a great opportunity for us to further grow InnoCore in line with our ambitions."
About InnoCore Pharmaceuticals: InnoCore Pharmaceuticals is a specialty pharmaceutical company focused on the development and manufacturing of long acting injectable drug delivery products for the treatment of chronic diseases. Utilizing its proprietary drug delivery technologies such as its unique SynBiosys® polymer platform, InnoCore develops biodegradable sustained release depots for precisely controlled delivery of therapeutic compounds. Depot technologies include microspheres, solid implants, coatings and gels. Since its inception in 2003, InnoCore has successfully established partnerships with biomedical, biotech and pharmaceutical companies throughout the world to develop sustained release depot formulations for small molecules, peptides and therapeutic proteins, including long-acting specialty generics. Over the years InnoCore's versatile SynBiosys® platform has shown its safety and effectiveness in several pre-clinical and clinical trials. Earlier this year, the first product with InnoCore's SynBiosys® drug delivery technology incorporated received regulatory approval and is now available in the clinic. InnoCore Pharmaceuticals is privately owned and is located in Groningen, The Netherlands. For more information about InnoCore Pharmaceuticals, please visit our website www.innocorepharma.com.
About Allergan: Allergan is a multi-specialty health care company established more than 60 years ago with a commitment to uncover the best of science and develop and deliver innovative and meaningful treatments to help people reach their life's potential. Today, we have approximately 11,200 highly dedicated and talented employees, global marketing and sales capabilities with a presence in more than 100 countries, a rich and ever-evolving portfolio of pharmaceuticals, biologics, medical devices and over-the-counter consumer products, and state-of-the-art resources in R&D, manufacturing and safety surveillance that help millions of patients see more clearly, move more freely and express themselves more fully. From our beginnings as an eye care company to our focus today on several medical specialties, including eye care, neurosciences, medical aesthetics, medical dermatology, breast aesthetics, obesity intervention and urologics, Allergan is proud to celebrate more than 60 years of medical advances and proud to support the patients and customers who rely on our products and the employees and communities in which we live and work. For more information regarding Allergan, go to: www.allergan.com.
Forward-Looking Statements: This press release contains "forward-looking statements", including but not limited to statements regarding development plans, the SynBiosys® drug delivery platform, and product candidates and related capabilities. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from current expectations and projections. The parties expressly disclaim any intent or obligation to update these forward-looking statements except as required by law.
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