Published on August 19, 2013 at 7:18 AM
Velocity Pharmaceutical Development, LLC ("VPD") and Remeditex Ventures, LLC ("Remeditex") announced today the signing of a collaboration agreement. Under this agreement, VPD and Remeditex will jointly evaluate pharmaceutical development opportunities for management by the VPD development team and potential funding from Velocity Pharmaceutical Holdings, LLC and Remeditex.
In conjunction with this collaboration, both VPD and Remeditex have announced an investment by Remeditex in a VPD-managed pharmaceutical development company, Tigercat Pharma, Inc.
"VPD has assembled a world-class group of scientists and drug developers" said Dennis Stone, Chief Scientific Officer of Remeditex. "Everyone at Remeditex is thrilled to be working with the VPD team. We look forward to identifying and developing a series of promising pharmaceutical candidates in partnership with VPD."
"It is a great honor for us to join in this partnership with Remeditex" said David Collier, CEO of VPD. "The Remeditex team, network and experience perfectly complement the skill set we have at VPD. Having Remeditex as a potential funding partner greatly expands the scope of opportunities we can address at VPD."
Source: Velocity Pharmaceutical Development, LLC