SoluBest, Ltd, today announced an agreement to license its proprietary nanotechnology platform for significantly improving the bio-performance of poorly soluble and insoluble drugs to CoreRx, Inc., an innovative contract formulation company. SoluBest’s Solumer™ technology is extremely versatile, as it can be applied to a wide range of pharmaceuticals. The license agreement will provide CoreRx with access to Solumer™ technology and the rights to apply the technology to client’s drug candidates currently in clinical development.
“We are excited at the opportunity to enhance our contract drug development offerings through the Solumer™ technology,” said Todd R. Daviau, CEO of CoreRx. “Since the beginning, CoreRx has been working to meet the increasing formulation development challenges of drug delivery, as well as performance enhancement of our client’s drug products. As companies continue to outsource development, speed, quality, and innovation become increasingly important to our contract lab offerings.By addressing poor water solubility through the use of the Solumer™ technology, CoreRx will be continue to expedite formulation development and keep customers on the fast-track for early drug development and clinical manufacturing. Additionally, this nanoparticle drug delivery system will help companies competitively differentiate themselves through IP protection, improve bioavailability, and improve/modify the drug release profile.”
As part of the agreement, SoluBest will provide CoreRx with formulation services and technology in exchange for research revenues for products incorporating or manufactured using Solumer™ technology.
“We are pleased to be able to offer CoreRx’s the use of our platform,” said Dr. Amir Zalcenstein, SoluBest’s head of business development, “the platform’s versatility, quick turnaround times and cost efficacy, coupled with CoreRx’s contract drug development experience are sure to make an effective combination.”
“CoreRx is thrilled to offer a unique nanotechnology delivery platform such as SoluBest’s and are enthusiastic about the potential of the Solumer™ technology,” said Brian R. McMillan, CoreRx’s Director of Formulation Development. “We see potential applications for NDA products, as well as generic formulations. This agreement further strengthens our ability to deliver value for our clients as we continue to develop innovative, differentiated drug products.”