Nuvo, Ferndale Collaborate to Develop Dermatology Products
Nuvo Research, a specialty pharmaceutical company with a portfolio of topical and immunology products, entered a collaboration involving Ferndale Laboratories and an undisclosed CRO with dermatology experience to develop two topical dermatology products based on Nuvo's Multiplexed Molecular Penetration Enhancer (MMPE™) technology.
As part of the agreement, Nuvo will utilize its MMPE technology to formulate two topical dermatology product candidates. Once the formulations are complete, Ferndale in collaboration with the CRO will oversee and fund the formulations' advancement through Phase II clinical studies. The company anticipates that the product candidates will then be made available for out-licensing. Licensing revenues, including upfront payments, milestone payments, and royalties will be shared by the parties based on a formula that includes compensation to Nuvo for contributing the patented formulations.
"This agreement validates our patented drug delivery platforms and highlights our ability to expand our development product pipeline through strategic collaborations with partners who will fund the costs of clinical development," said Dan Chicoine, Nuvo's Chairman and Co-CEO.