Cortecs International Ltd. announced Thursday that it hasentered a collaboration with a major Japanese company to testoral delivery of synthetic peptides.

The Japanese company did not want to be named and did notwant to have its proprietary product identified, Michael Flynn,Cortecs' president, told BioWorld.

The protein has not been previously researched by the Londondrug delivery company (NASDAQ:DLVRY), which has worked onthe protein hormones calicitonin, insulin, human growthhormone, erythropoietin, alpha interferon and urokinase.

The collaboration concerns a product that is currentlyregistered and marketed in several countries in an injectableform, and targets a market valued at more than $800 million,according to Cortecs.

The research will focus on Cortecs' patented "Bridgelock"method that increases availability of a protein drug by linkingit to a phospholipid that crosses cell membranes, and addinglong-chain fatty acids to the formulation to enhance uptakefrom the gut by the lymph system, bypassing the filteringaction of the liver.

The initial 12-month study by Cortecs will evaluate oralformulations in animals, then in human subjects if approval isgranted. This United Kingdom testing program will be fundedby the Japanese partner.

"In the short term, it's very positive to have a fundedprogram." Flynn said, "But we're not looking for a significantbottom-line effect." In the medium or long term, the companymay realize greater benefit if the product proceeds throughcommercial development, he said.

In fact, the two companies plan to discuss a follow-oncommercial agreement during the next 12 months.

Subject to promising results, the agreement will concerndevelopment, registration and distribution of this peptide in anorally available form.

Cortecs presented information about its delivery system forpeptides and proteins at the Sixth International Symposium onRecent Advances in Drug Delivery Systems in Salt Lake City inFebruary. The presentations concerned using a lipid carrier todeliver calcitonin via the small intestine; using low-densitylipoprotein to deliver cytotoxic drugs to cancer patients; andenhancing delivery of a beta-blocker with a lipoprotein particlethat enters the lymph system through the gut and bypasses theliver.

The Japanese company approached Cortecs, Flynn said, becausethe company is known for unique drug delivery systems.Cortecs also makes a range of ethical and over-the-countymedicines and diagnostic products.

-- Nancy Garcia Associate Editor

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