Israel's Intec discussing $150M drug delivery partnership with Big Pharma company

The unfolded Accordion Pill, usually contained within a regular capsule

Israel's Intec Pharma is discussing a partnership involving its drug-delivering Accordion Pill with a Big Pharma player. The deal contains an option that would net Intec up $150 million, in addition to royalties on product sales.

Citing a disclosure for the Tel Aviv Stock Exchange written in Hebrew, local news outlet Globes says the partnership centers on a large indication drug for disorders of the central nervous system. It would pay Intec $1 million for initial R&D expenses.

This is the second pharma partnership announced by the company. The previous one netted the company 7 million shekels ($1.75 million) before it was canceled by the pharma partner, Globes says.

Intec's Accordion Pill is for drugs with a narrow absorption window--meaning they can only be absorbed in a particular portion of the gastrointestinal tract--and those that have poor solubility. The outer capsule dissolves in the stomach and the pill unfolds in an accordion-like manner, where it is retained for up to 12 hours. The drug is then continuously absorbed in the upper part of the GI tract, Intec says.

The Accordion Pill can combine immediate and controlled profiles and contain more than one active pharmaceutical ingredient, Intec says.

Intec has two go-it-alone products in the pipeline. It is looking for a development partner for Phase III trials for its Accordion Pill candidate to treat Parkinson's disease, and another for its candidate for insomnia, which has also passed Phase II, according to Globes.

A lucrative partnership is needed, for Intec lost 20.3 million shekels ($5.1 million) in 2014. Its share price rose 4% on the Tel Aviv Stock Exchange following the announcement. The company has a market cap of around 185 million shekels ($46 million).

- read the article in the Globes

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