|Anti-inflammatory drug delivered through skin set to net $10 million upfront deal|
|Thursday, 22 July 2010 16:07|
As we told our subscribers on Thursday morning, this company's innovative-patented cream formulation technology is designed to facilitate the effective penetration of a variety of products through the tough skin barrier.
In essence it is a topical cream delivery system that is among the most elegant and effective and now, sources are telling us that there is a significant event on the horizon which could impact share prices significantly, especially given the size of the tightly held share float.
The company is Transdel Pharmaceuticals Inc (OTC: TDLP) and it has a product called Ketotransdel® which is Ketoprofen in their delivery system.
Ketotransdel®, the Company's lead late stage pain product, utilizes the Transdel™ technology to deliver the active drug, ketoprofen, a non-steroidal anti-inflammatory drug (“NSAID”), through the skin directly into the underlying tissues where the drug exerts its well-known anti-inflammatory and analgesic effects.
We do know that the market for NSAIDs delivered transdermally has been growing rapidly and that there are two competitive products from King Pharma- the flector patch which is a patch of Volataren (Diclofenac) and one by the old Ciba company which is a gel.
Ketoprofen is a more effective product when dermally delivered and their system allows 10x more drug to be used.
The prior two products have grown to over $300 million in three years and the market is estimated at over $4.5 billion in the US alone.
Transdel had good Phase 3 results but as typical with pain products, they find themselves in a position in which they need to duplicate those Phase 3 trials.
Those same industry sources indicate that Transdel is very close to a deal with one or two companies that could mean a $10 million upfront cash deal as well as the expenses for the trial being paid for by the partner. In addition, there are indications that the company could recieve a royalty payment in excess of 25%.
Interestingly, on the company's own website, they indicate that they are seeking a commercial partner for Ketotransdel®, and are actively pursuing discussions with U.S. and foreign based potential partners with sales and marketing infrastructures.
Industry sources are telling us that they are expecting this news sometime in the next 10-20 days. In the meantime, we fully expect to reach out to company officials for more informaiton and/or an interview in hopes of learning more details as we chase this story.
Disclosure: No Positions