New JV partner for Patheon ...Kosmos Pharma
MOVA Pharmaceutical Corporation And Kosmos Pharma To Jointly Develop PHARMACEUTICAL Uses For Quick Dissolve Film
CAGUAS, Puerto Rico, and GREAT FALLS, Va., Sept. 4 /PRNewswire/ -- MOVA Pharmaceutical Corporation and Kosmos Pharma Limited have reached an agreement in principle to commercialize pharmaceutical and non-pharmaceutical quick dissolve film delivery systems. This novel technology would be available to pharmaceutical companies and others as a new platform for drug development.
The increasing role of quick dissolve film applications for the oral delivery of products is evidenced by the overwhelming consumer acceptance of breath freshener applications worldwide. In the pharmaceutical industry, quick dissolve film represents the next paradigm in drug delivery technology.
This agreement brings together Kosmos' proprietary FDTAP(TM) film technology, with the development and manufacturing capabilities of MOVA Pharmaceutical.
"This agreement represents the beginning of the commercialization of quick dissolve film's use for a broad array of pharmaceuticals, and revolutionizes the delivery of oral pharmaceuticals. We are very proud of having reached this strategic alliance with the people of MOVA, who have a proven track record as one of the best pharmaceutical contract manufacturing companies in the business," said Richard C. Fuisz, M.D., chairman of Kosmos Pharma.
Joaquin B. Viso, president and chairman of the board of MOVA Pharmaceutical, indicated that, "This is the result of our continuous effort to offer new technologies and services to our customers in the pharmaceutical industry. Kosmos has a very strong technology background and we are very pleased to join forces with them for the commercialization of this important and innovative new drug delivery system."
Kosmos Pharma is a leading oral drug delivery company. Kosmos' core technology, FDTAB(TM), is a film-based oral dosage form that quickly dissolves on the tongue, similar to currently marketed film-based breath freshener products. Kosmos' founder, Richard C. Fuisz, M.D., previously founded Fuisz Technologies, a publicly-traded drug delivery company acquired by Biovail in 1999. Founded in 2000, Kosmos is a private company with corporate offices in Northern Virginia and research facilities in Bristol, Tennessee.
Established in 1986, MOVA Pharmaceutical Corporation is the United States' first company dedicated to the large-scale contract manufacturing of pharmaceutical finished products, a field in which it has become a recognized leader. MOVA has earned the trust of leading pharmaceutical companies and believes in establishing long-term relationships with its clients. Its flexible approach to tailor services to client needs and wide range of capabilities make it the "right hand in outsourcing" for the industry. The company operates manufacturing facilities in Caguas, Carolina and Manati, Puerto Rico, as well as a Research and Development Center in Caguas.
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SOURCE Kosmos Pharma Limited
-0- 09/04/2002
/CONTACT: Jose E. Casellas, Vice President Business Development of MOVA Pharmaceutical Corporation, +1-787-258-1661, Fax: +1-787-258-1794, or e-mail: jose.casellas@movapharm.com; or Joseph M. Fuisz, Esq., Vice President of Kosmos Pharma Limited, +1-703-759-1006, Fax: +1-703-759-1009, or e-mail: jfuisz@kosmospharma.com/
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Good luck to all