BETHLEHEM, Pa., April 1, 2014 /PRNewswire/ -- Particle Sciences, a drug delivery Contract Development and Manufacturing Organization (CDMO), today announced that they have entered into an exclusive agreement with Actavis plc (NYSE: ACT), a leading specialty pharmaceutical company, to develop an unnamed complex generic product. Under the agreement, Particle Sciences is responsible for design, formulation and cGMP supplies. Actavis will have responsibility for clinical testing, regulatory filings and marketing.
"We have worked with Actavis on a number of projects in the past," said Mark Mitchnick, Particle Sciences' CEO. "This latest one leverages several of Particle Sciences core skillsets focused on sterile products with challenging formulation targets."
Under the terms of the agreement, Particle Sciences will receive undisclosed milestone and revenue- based payments.
"Over the past several years Particle Sciences has intentionally moved towards closer relationships with our clients by structuring our interactions to best align our respective goals," Mitchnick added. "This latest venture is a great example, and we are very pleased to have Actavis as our co-developer and marketer."
Particle Sciences is an integrated pharmaceutical CDMO. Particle Sciences focuses on BCS II/III/IV molecules, biologics and highly potent compounds through a variety of technologies including emulsions, gels, micro and nano-particulates, drug/device combination products, solid solutions and others. Particle Sciences is FDA registered and DEA licensed. Through a full range of formulation, analytic, and manufacturing services, Particle Sciences provides pharmaceutical companies with a complete and seamless development solution that minimizes the time and risk between discovery and the clinic. The company was founded in 1991 and is headquartered in Bethlehem, Pennsylvania. Visit www.particlesciences.com, email [email protected] or contact us at (610) 861- 4701 for information.
Contact: Maureen Grieco
SOURCE Particle Sciences Inc.