Acrux (ASX: ACR), the Australian company with patient-preferred technology for delivering drugs across the skin, today announced that it has reached agreement with Population Council, Inc., to amend the Licence Agreement signed in February 2006.
Under the Licence Agreement, Acrux is developing a contraceptive spray, combining Acrux's patented MDTS spray delivery technology with Population Council's new generation contraceptive Nestorone. Established in 1952 and headquartered in New York, Population Council has a proven track record in the successful development of female contraceptive products.
Under the terms of the amendment, Acrux is no longer restricted to developing and commercialising only contraceptive sprays containing Nestorone. All other material terms of the Licence Agreement remain unchanged.
"This amendment has paved the way for Acrux to apply MDTS to a far wider range of contraceptive hormones, which in turn makes our technology more attractive to potential global partners," said Richard Treagus, Acrux CEO.
Following the successful completion of Phase 1 clinical trials with Nestorone MDTS, Acrux has moved quickly to start formulation development of additional contraceptive spray products.
"The global market for hormonal contraceptives approximates US$6.5 billion per annum. With the MDTS technology applicable to a range of contraceptive hormones, it was important to ensure that we were in the strongest possible position to fully exploit the value of our technology in this market", Treagus added.
MDTS has a number of advantages over existing methods of contraceptive delivery systems, such as pills and patches. At launch, the contraceptive MDTS will be the first transdermal contraceptive spray in the market, and it has the potential to become the contraceptive of choice for many women.
Contact: Richard Treagus