BioProgress plc, a speciality pharma and healthcare company, has
today announced that it has completed a licensing agreement with Uluru Inc, for
a specific product for the treatment of mouth ulcers using Uluru's Oradisc
technology.
The product agreement is in addition to the current anti-emetic product already
in development between the two parties.
The product is being positioned within BioProgress's strategy of patient
supportive care, especially with painful conditions of the mouth such as that
seen when patients are undergoing oncology treatment. The product is expected to
be available both as a prescription medicine and as an Over the Counter
medicine. BioProgress will be marketing the product within the European, CIS and
Middle East regions. The product will be applied for market approval within the
second half of 2007. The current market in the UK alone is £28.8m (IRI/PAGB
2005).
It is expected that BioProgress will develop a broad, product-based franchise in
the area of sore mouth conditions - a major area of unmet need. It plans to be
the leading dominant player within the EU and Middle East Regions with a focus
on using soluble polymer technology, whether in film or as liquid.
BioProgress will pay an initial milestone payment of $600,000 for the exclusive
rights to the product with further milestones based upon regulatory and sales
based milestones.
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