LIDDS has entered into a research agreement with a major pharmaceutical company which has an exclusive option right to leverage the NanoZolid® technology for the development of an injectable, controlled-release formulation for cancer treatment.
Under the terms of the agreement, LIDDS will conduct feasibility studies fully funded by the other party. Upon completion of the development work, the right to exercise its option and enter into an exclusive agreement with LIDDS to further develop the novel formulation based on NanoZolid®.
– LIDDS is committed to provide the NanoZolid® technology to enhance the performance of drugs by either reducing its side effects or facilitate longer acting pharmaceuticals to improve compliance and quality of life for patients. We are very pleased with the new agreement which adds another exciting project that does not compete with LIDDS own development portfolio, says Monica Wallter, CEO of LIDDS.
LIDDS has several ongoing development projects in oncology. The prostate cancer project is currently in Phase IIb and there are several promising preclinical projects where NanoZolid® is combined with cytotoxic drugs and with immuno active substances such as antibodies.
Monica Wallter, CEO, firstname.lastname@example.org, +46(0)73 7070 922
LIDDS is required to disclose the information in this press release under the European Union's Market Abuse Regulation and the Securities Market Act. The information was submitted through the aforementioned contact person, for publication on 21 July 2017 at 10:00 CET.
LIDDS AB (publ) develops effective pharmaceutical products for cancer and other diseases with the patented NanoZolid® technology. NanoZolid® releases the medication locally and effectively which means significantly fewer side effects compared with systemic treatment. NanoZolid® technology allows for a controlled, sustained and customized release of medication for up to six months. NanoZolid® can integrate both small and large pharmaceutical molecules such as antibodies. The company's most advanced project, the prostate cancer product, Liproca® Depot containing 2-hydroxyflutamide, validates that the technology has a proven clinical effect. The prostate cancer project is currently in Phase IIb. Industrial-scale production is produced in collaboration with Recipharm. LIDDS has active development projects where NanoZolid® is combined with antiandrogens, cytotoxic drugs and immuno-active agents. The LIDDS share is listed on Nasdaq, First North. Redeye AB is LIDDS certified adviser.
For more information, please visit www.lidds.se.
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Source: LIDDS AB via Globenewswire