Pharmos Corp. said it has completed a pilot Phase I clinicalstudy to test its first ophthalmic product using the company'ssubmicron Emulsion delivery system.

The SME technology is designed to increase the absorption rateof the compound delivered, thereby reducing the need formultiple treatments, the company said.

A glaucoma treatment, Pilocarpine, was the first compoundtested. Pharmos said trials of 10 volunteers showed itstechnology was able to increase the overall efficiency of thedelivery of the drug and reduce the frequency ofadministration from four times a day to twice. The New Yorkcompany said more effective administration of Pilocarpinecould expand the drug's current $60 million market.

Pharmos said its SME technology enables lipophilic drugs tobecome more soluble in tissue and sustain, thereby sustainingthe drugs' release and reducing toxicity without decreasingpharmacologic activity.

Pharmos has entered into a definitive agreement to merge withPharmatec Inc. (NASDAQ:PHTC) of Alachua, Fla.

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