Vyteris has signed an agreement with the Georgia Tech Research Corporation of the Georgia Institute of Technology (Georgia Tech), according to which Vyteris has the option to exclusively license Georgia Tech's patented thermal ablation and microdevice fabrication technologies for transdermal drug delivery.
As per the terms of the agreement, Georgia Tech is expected to be entitled to royalty and milestone payments connected to the development and potential commercialisation of products which incorporate the technologies.
Georgia Tech’s proprietary thermal ablation and microdevice fabrication technologies were developed by Mark Prausnitz, professor of Chemical and Biomedical Engineering at the Georgia Institute of Technology.
Vyteris president and CEO Haro Hartounian said that this is a significant inflection point for Vyteris that they believe enhances the companies’ current transdermal capabilities by providing access to these technologies from Prausnitz’ laboratory.
“Georgia Tech’s thermal ablation and microdevice fabrication technologies are potentially complementary to our active transdermal smart patch technology, and may allow Vyteris to deliver a much broader range of therapeutic drugs through the skin.
“We look forward to working with Prausnitz and his team in advancing these combined drug delivery technologies toward clinical testing,” Hartounian said.