Privately-held BDD Pharma said today that it signed a deal to license its OralogiK timed drug-delivery tech to Novartis (NYSE:NVS).
Financial details of the agreement were not disclosed, but BDD noted that it included an upfront payment, milestones and future royalties.
BDD’s technology can deliver multiple doses or a combination of drugs at pre-determined times, between one and 12 hours following administration, according to the company.
Novartis plans to use OralogiK to develop a new product but did not say what kind of drug would be included in the oral drug-delivery system.
“This is a significant step for BDD; our OralogiK technology offers wide ranging possibilities for partners to develop new products with complex delivery patterns and to extend product ranges. We look forward to continuing our collaboration with Novartis, aiming to bring the first OralogiK product to the market,” BDD’s executive chairman Howard Stevens said in prepared remarks.
