Noven Pharmaceuticals Inc. on Monday said it has grantedCiba-Geigy Corp. an exclusive U.S. and Canadian license to itstransdermal estrogen delivery system.
In exchange, Ciba-Geigy acquired warrants to purchase anundisclosed equity stake in Noven and has options to buyfurther warrants of Noven common stock.
No further details were disclosed.
The Miami biotech company (NASDAQ:NOVN) has a patentedmethod to move drugs through the skin from the adhesive of aplastic skin patch.
Cygnus Therapeutic Systems Inc. of Redwood City, Calif., andWarner Lambert are jointly developing an estrogen patch.
(c) 1997 American Health Consultants. All rights reserved.