Australian drug delivery technology company Phosphagenics Limited has licensed an injectable antibiotic product, harnessing its proprietary TPM® platform technology, to Agila Specialties Private Limited (Agila). Agila is a wholly owned subsidiary of the listed Indian pharmaceutical company, Strides Arcolab (Strides).
Agila has one of the largest steriles capacities in India and amongst the largest lyophilization (freeze drying) capacities in the world with its operations spread over nine world-class manufacturing facilities around the globe. The company is focused on developing and commercializing new products for key therapeutic markets targeting antiinfectives, oncology, central nervous system (CNS), gastro-intestinal (GI), ophthalmics and peptides.
Under the terms of the exclusive global license agreement, Phosphagenics will license the TPM® technology to Agila for its use in an antibiotic injectable product. Agila will be responsible for the development and pay the costs required to register and commercialize the product including all necessary clinical studies.
Phosphagenics will receive an upfront payment as well as undisclosed royalties based on net sales. The size of the antibiotic injectables market is several billion dollars annually.
Company CEO, Dr Esra Ogru, said this agreement demonstrates the versatility of the TPM® platform technology, paving the way for further opportunities in the injectable market.
“Strides and its subsidiary, Agila, have state-of-the-art manufacturing capabilities and have had tremendous success in bringing new products to market. This will be the first time TPM® will be used in an injectable formulation.”
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