WARREN, N.J., July 14, 2016 (GLOBE NEWSWIRE) -- MonoSol Rx LLC, a specialty pharmaceutical company leveraging its PharmFilm® drug delivery technology to improve patient outcomes and to address unmet needs, and MonoSol LLC, the Kuraray Company’s water soluble film division, announce an agreement through which MonoSol LLC will receive a perpetual license to MonoSol Rx’s intellectual property (IP) for use in defined areas outside of pharmaceuticals in exchange for undisclosed financial terms. This license agreement gives MonoSol LLC access to MonoSol Rx’s patent estate for detergent, agrochemicals, oil and gas and water treatment applications.
MonoSol Rx is the worldwide leader in film-based drug delivery applications while MonoSol LLC is the worldwide leader in soluble unit dose non-pharmaceutical applications. MonoSol LLC and MonoSol Rx became separate entities in January of 2004.
Keith J. Kendall, CEO of MonoSol Rx, commented, “As a leader in film-based drug delivery, MonoSol Rx has built a robust portfolio of intellectual property. We have long been aware of the potential for our proprietary film technology to add substantive value to applications in a wide range of industries. This is an important validation of the strength of our fundamental IP, and we are pleased to license our technology to MonoSol LLC for use outside of the pharmaceutical industry.”
P. Scott Bening, MonoSol LLC CEO and Kuraray Executive Officer, added, “We are pleased to have executed this agreement with MonoSol Rx, which provides opportunities for both companies to focus on key markets while fortifying our respective Intellectual Property estates.”
About MonoSol Rx
MonoSol Rx is a specialty pharmaceutical company leveraging its proprietary PharmFilm® drug delivery technology to develop products that improve patient outcomes and address unmet needs. These pharmaceutical and over-the-counter products are developed independently and with partners. PharmFilm can provide a benefit to patients by improving the efficacy, safety, and convenience of currently marketed pharmaceutical products, new molecular entities, and combination products. MonoSol Rx's leadership in film drug delivery is supported by strong IP protection, a robust pipeline of prescription drug formulations, and two FDA-approved products - Suboxone® (buprenorphine and naloxone) sublingual film and Zuplenz® (ondansetron) oral soluble film. For press releases and other company information, visit www.monosolrx.com.
Source: MonoSol Rx