InnoCore Pharmaceuticals today announced that it has signed an exclusive License and Collaboration Agreement with Allergan, Inc. (NYSE: AGN), a multi-specialty health care company headquartered in Irvine, California.
Under the agreement, the companies will expand their existing collaboration and jointly continue to develop long-acting ocular drug delivery products for the treatment of ophthalmic diseases. Utilizing its patented SynBiosys® polymeric drug delivery platform, InnoCore will formulate Allergan's proprietary drugs into pharmaceutical products expected to be capable of sustained release for many months following a single ocular injection. The SynBiosys® drug delivery platform is based on novel biodegradable multi-block co-polymers with unique molecular architectures that allow precise and site-specific delivery of drugs for predetermined periods of time, ranging from weeks to many months.
Jan Hendriks, Chief Executive Officer of InnoCore Pharmaceuticals commented: "We are very excited that we have expanded this important partnership with Allergan, a company that is widely recognized as a leading company in the development of controlled release ophthalmology medicines. Expanding our partnership with Allergan is a great opportunity for us to further grow InnoCore in line with our ambitions."