Jerusalem-based Intec Pharma (TASE:INTP) announced it is nearing a $150 million deal with an unnamed ‘Top 20’ global pharmaceutical company relating to a project involving Intec’s “accordion pill,” an oral dosage form designed to deliver drugs that suffer from low solubility or poor colonic absorption.
Intec Pharma is an Israeli drug development company, applying its innovative proprietary gastric retention technology to develop improved formulations of drugs.
As part of the agreement, Intec Pharma will immediately receive $1 million for initial R&D expenses, said Globes. Intec will grant the yet unnamed Big Pharma licensee, rights to continue development and marketing of the drug, according to a Tel Aviv Stock Exchange disclosure filed in Hebrew.
The Accordion Pill, a novel gastro-retentive delivery system, significantly improves the Pharmacokinetics of drugs with either narrow absorption window or poorly soluble drugs that belong to Biopharmaceutics Classification System (BCS) class II and Class IV.