MONMOUTH JUNCTION, N.J. - July 22, 2009 - MicroDose Therapeutx Inc. (formerly MicroDose Technologies) today announced that Merck & Co., through an affiliate, has exercised an option to extend its license to the MicroDose Dry Powder Inhaler (DPI) technology to an additional investigational compound. This option originates from the previously announced collaboration agreement between the two companies and triggers the payment of an undisclosed exercise fee to MicroDose.
Under the terms of the collaboration agreement, Merck funds costs of development and commercialization of products that employ MicroDose´s DPI technology for the administration of Merck compounds. MicroDose is eligible to receive milestone payments and royalties on revenues from all products developed under the agreement.
“We are excited to announce the expansion of our collaboration with Merck to include an additional compound for development in our inhaler,” said Michael J. Martin, Vice President, Licensing & Business Development, at MicroDose. “This step provides a further indication of Merck´s commitment to pulmonary delivery and to the MicroDose inhaler, and once again demonstrates the ability of the technical teams at both MicroDose and Merck to quickly and efficiently evaluate the feasibility and initiate the development of promising new therapies.”
MicroDose Therapeutx is dedicated to improving the quality of life for people suffering from serious diseases by creating improved pharmaceutical products. The company is a leader in the application of proprietary drug delivery technologies, developing advanced pulmonary, combination oral dosage, and other technologies and products for the pharmaceutical and biotechnology industries.
The MicroDose DPI is among a number of key proprietary drug delivery technologies developed by MicroDose. By employing piezo electronics, the MicroDose DPI has the potential to deliver enhanced performance as compared to other inhalers, offering efficient and reproducible delivery independent of patient coordination, inhalation rate and posture. MicroDose believes that the flexibility of the inhaler makes it a true platform technology, able to support a broad pipeline of products across the spectrum of patient populations and therapeutic categories.