|Access signs pre-licensing feasibility agreement|
|By Staff and Wire Reports|
|Wednesday, 27 October 2010 00:00|
In early October, we told our readers that Access Pharmaceuticals' (OTC: ACCP) stock had been acting very bullishly. Today's news looks to add fuel to their climb.The upward trend has, indeed, continued higher for ACCP and this morning, the Company announced that it has entered into a pre-licensing feasibility agreement with a leading biopharmaceutical company to develop an oral formulation of an undisclosed prostate cancer compound utilizing its proprietary vitamin B-12-based CobOral™ Drug Delivery Technology.
Just last week, ACCP submitted additional patent applications, covering that oral drug delivery technology formulations for many of the world's top-100 injectable drugs- all as a result of the growing interest surrounding the company’s proprietary oral delivery technology.
Jeffrey B. Davis, President and CEO, Access Pharmaceuticals had hinted that “the CobOral branding and additional patent filings reflect the high level of interest from partners in our CobOral and CobaCyte drug delivery platforms.”
According to a press-release issued by the company, Access will develop CobOral formulations for testing by the undisclosed biopharma company. Access indicated that any successful formulation developed will be jointly owned by the Parties and subject to a subsequent full licensing agreement.