TheraTech Inc., 410 Chipeta Way, and Syntex Inc., a subsidiary of Syntex Corp., have signed agreements to collaborate in the development and manufacture of novel pharmaceutical products.
As part of the collaboration, Syntex will acquire an equity position in TheraTech. The financial terms and the amount of equity weren't disclosed.TheraTech will develop transdermal delivery systems for certain of Syntex's proprietary drugs that have potential use in therapeutic areas such as reproductive physiology, inflammation and pain.
Syntex will have worldwide marketing rights to all products developed as a result of the collaboration. TheraTech will manufacture the delivery systems and receive royalties on the sale of the jointly developed products, said Dinesh C. Patel, Thera-Tech president.
TheraTech was founded in 1985 and has been involved in the development of novel pharmaceutical products such as transdermal patches and other controlled release dosage forms. Syntex is a $1.8 billion multinational health care company that develops, manufactures and markets prescription medicines to treat serious human diseases.