TheraTech Inc. announced Monday that it has received aclinical development milestone payment from its collaborator,Syntex (U.S.A.) Inc.
TheraTech of Salt Lake City has demonstrated in Phase II trialsthat the transdermal Toradol patch is able to deliver thetargeted amounts of ketorolac tromethamine to the blood. Thepatch is being developed for managing moderate to severepain, explained Steven Mayer, TheraTech's vice president andchief financial officer.
This is the second milestone payment that TheraTech(NASDAQ:THRT) has received from Syntex on this product,which is part of a multiproduct research and developmentagreement the two companies inked in September 1991. Theamounts of the payments were not disclosed.
The agreement, by which Syntex of Palo Alto, Calif., acquired anundisclosed equity position in TheraTech, provides a way forselected Syntex drugs to be delivered via skin patches. Syntexhas worldwide marketing rights to all products developed fromthe collaboration, while TheraTech will manufacture thedelivery systems and receive sales royalties.
TheraTech is currently manufacturing clinical supplies ofketorolac tromethamine patches for expanded trials in early1994. -- Jennifer Van Brunt
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