SurModics, Inc. (Nasdaq: SRDX), a leading provider of drug delivery and surface modification technologies to the healthcare industry, and NuPathe Inc., a neuroscience-focused specialty pharmaceutical company, announced today that the companies have entered into a license agreement for drug delivery technology. The companies have been collaborating since 2007 on the development of a biodegradable sustained release formulation of an approved dopamine agonist. The result is NuPathe’s NP201, the first long-acting treatment available in broadly acceptable dose form that maintains the potential to provide sustained relief from Parkinson’s disease without motor response complications. NP201 leverages NuPathe’s long-acting delivery (LAD™) technology and SurModics’ proprietary biodegradable polymer matrix implant technology to achieve optimal drug release over an extended period of time.
Under the licensing agreement, NuPathe will lead and fund development and commercialization. SurModics will provide technical and manufacturing expertise and will be eligible to receive licensing fees and milestone payments related to development of products for the treatment of Parkinson's disease and other clinical indications. SurModics will also receive royalties on product sales.
"The use of SurModics’ biodegradable implant technology is an ideal match in this clinical area, as maintaining desired drug levels are critical for achieving the optimal clinical outcome,” said Bruce Barclay, president and CEO of SurModics. “We have enjoyed a strong collaboration with NuPathe and look forward to continuing in the development and commercialization of this important product for patients with Parkinson's disease."
SurModics is nearing completion of a major facility expansion at its SurModics Pharmaceuticals site in Birmingham, Alabama. The agreement with NuPathe anticipates the use of this facility for the production of clinical materials and, ultimately for commercial supply.
"We are thrilled to have SurModics Pharmaceuticals as our development partner on this product,” said Jane Hollingsworth, CEO of NuPathe. “We evaluated a number of potential partners for technical experience and selected the SurModics team based on their depth of capabilities. SurModics’ technical knowledge coupled with their investments in a new cGMP manufacturing facility were important factors in our decision to execute the license agreement. Thus far, our collaboration has been extremely successful. NP201 has demonstrated efficacy in a validated Parkinson’s model and has the potential to significantly improve the lives of Parkinson’s patients."
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