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Collegium Pharmaceutical Inc. and United Research Laboratories/Mutual Pharmaceutical Company Announce Product Development Agreement
CUMBERLAND, RI—(BUSINESS WIRE)—April 20, 2005—Collegium Pharmaceutical, Inc., a specialty pharmaceutical product development company, and URL/Mutual Pharmaceutical Company, a privately-held company that is engaged in the research, development, manufacturing and commercialization of generic pharmaceutical products, today announced that they entered into a Product Development Agreement for the development and commercialization of an undisclosed product. Collegium is responsible for all aspects of formulation development, process development, analytical development, manufacturing of clinical batches and pilot bioavailability for the product. After such point, Collegium will transfer the technology to URL/Mutual for pivotal bioavailability, commercial manufacturing and commercialization of the product. URL/Mutual will also be responsible for all required regulatory filings. The companies expect that the product will be available for launch in late 2006 or early 2007. The agreement calls for Collegium to be paid certain milestones associated with the development of the product in addition to royalties on the net sales of the product.
“We are very pleased to have entered into this agreement with URL/Mutual. We feel this product leverages Collegium’s formulation development expertise and that URL/Mutual is an exceptional partner to commercialize this product due to their broad product line, distribution capabilities and reputation” said Michael Heffernan, President of Collegium. Collegium’s business model is to develop differentiated, patent protected or high barrier to entry products, complete “proof of concept” studies and then out-license the products for commercialization by a strategic marketing partner.
Dr. Richard Roberts, M.D., Ph.D., President and Chief Executive Officer of United Research Laboratories/Mutual Pharmaceutical Company said “We are actively engaging product development partners to compliment our own research and development efforts. Collegium exemplifies the type of partners we seek: pharmaceutical experience, expert scientific knowledge, and a commitment to excellence. We are quite pleased to be working with Collegium on this product."
About United Research Laboratories/Mutual Pharmaceutical Company
United Research Laboratories/Mutual Pharmaceutical Company, a privately-held company headquartered in Philadelphia, is engaged in the research, development, manufacturing and commercialization of generic and branded pharmaceutical products, and the application of innovative intellectual property strategies to existing and future branded products. URL/Mutual currently has 250 ANDA approvals, 4 NDA approvals, a rapidly growing pipeline of generic and branded products, and currently manufactures 2.3 billion units annually.
For more information, please visit www.urlmutual.com.
About Collegium Pharmaceutical, Inc.
Collegium Pharmaceutical, Inc., is a privately held pharmaceutical company focused on the development of proprietary, late stage pharmaceutical products. These products target market opportunities through product enhancements and line extension strategies protected by intellectual property (IP). Collegium applies customized pharmaceutical formulations and IP strategies to drugs that are safe and effective, creating a portfolio of improved pharmaceutical products with potentially less development risk and shorter times to market. Collegium uses its broad expertise in IP development, drug formulation, manufacturing, basic science (chemistry, biology, bioengineering), marketing and clinical trials management to identify and execute product opportunities for itself and its partners. For more information, visit the Company’s website at www.collegiumpharma.com.
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