MELBOURNE, Australia, Feb. 23, 2016 (GLOBE NEWSWIRE) -- Gordagen Pharmaceuticals, an Australian nutraceutical and pharmaceutical company, is pleased to announce a collaborative research agreement with Monash University to assess a new drug delivery technology.
The research project will assess the feasibility of using a novel, patent-pending lymph directing drug delivery technology. The technology was developed by researchers at the ARC Centre of Excellence in Convergent Bio-Nano Science and Technology based at the Monash Institute for Pharmaceutical Sciences, Australia's leading Institute in drug delivery and drug discovery. It is anticipated that the technology will help improve the bioavailability of tocotrienols, which forms the basis of Gordagen’s prescription medicines portfolio.
The project, being headed up by Dr. Chris Porter and his team at Monash, will comprise synthesis of tocotrienol derivatives based on the new delivery technology. These molecules will then be tested in validated animal models, initially providing data on the efficiency of absorption and bioavailability.
Following a positive outcome from the program, an exclusive license for the technology as applied to tocotrienols would be negotiated. Minimum commercial terms have already been agreed between the parties.
“We are very excited about this proof of concept project, as it could potentially enable Gordagen to expand its prescription medicines portfolio with a range of New Chemical Entities (NCE’s) protected by a composition of matter patent, which we will have under exclusive license,” said Dr. Ric DeGaris, Chief Operating Officer, Gordagen.
The project is expected to be completed by Q4 2016. It would be anticipated that a resulting license agreement would be finalised shortly afterwards. The program is being supported by a Commonwealth Innovation Grant.
“If the Monash technology improves the bioavailability of tocotrienols, this will strengthen our intellectual property position and add tremendous value to our prescription medicines pipeline. Results will coincide with the launch of our nutraceuticals portfolio in the US this year, making it a period of rapid value building for Gordagen,” said Dr. Glenn Tong, CEO and Managing Director of Gordagen.
Investor and Media Enquiries: Company: Dr Glenn Tong Managing Director & CEO Tel: +61 (0) 412 193 350 Australia / Asia: Paris Brooke Bt Novo Pty Ltd Tel: +61 (0) 407 715 574 United States / Europe: David Burke The Ruth Group O: 646.536.7009 C: 917-618-2651