Drug delivery company Acrux (ASX: ACR), announced today that it has signed a further agreement with Organon, the human healthcare business unit of Akzo Nobel, expanding the two parties' collaboration. This follows the recently announced deal under which Organon and Acrux will develop and commercialise contraceptives, delivered through the skin using Acrux's unique spray technology.
Under the new agreement, Organon has licensed Acrux's technology for delivery of a non-hormone, proprietary Organon drug, for a substantial global women's health market.
"The expansion of our important relationship with Organon, one of the leading innovators in women's health, confirms that our unique spray technology has even broader potential" said Acrux CEO Richard Treagus.
"This adds a new, non-hormone drug to our pipeline and demonstrates the potential to use the technology to deliver drugs owned by our partners", he added.
Organon executive vice president, Research and Development, David Nicholson commented "The Acrux technology is an appealing method of delivering medication, with the potential to extend the choices available for women to fit their needs and lifestyle."
Acrux will be responsible for developing formulations of the undisclosed compound and upon successful completion; Organon will undertake and fund all clinical trials, regulatory submissions, manufacturing and commercialization efforts.
Acrux may receive payments totalling US$12 million as development and regulatory milestones are achieved.
Acrux will also earn royalties on worldwide sales of the product.