WARREN, N.J., Jan. 16, 2013 (GLOBE NEWSWIRE) -- MonoSol Rx, the developer of PharmFilm® drug delivery technology, today announced that it has licensed Zuplenz® (ondansetron) to Vestiq Pharmaceuticals, a specialty pharmaceutical company focused on innovative therapeutic remedies within the supportive care markets. Zuplenz is an oral soluble film (OSF) for the prevention of chemotherapy-induced, radiotherapy-induced, and postoperative nausea and vomiting. The licensing agreement comprised an undisclosed upfront payment from Vestiq, as well as double digit royalty payments from sales of Zuplenz. Vestiq relaunched Zuplenz in the United States in the fourth quarter of 2012. The approval of Zuplenz by the U.S. Food and Drug Administration (FDA) makes it the first oral soluble lingual film product approved by the FDA as a prescription medication, based on MonoSol Rx's proprietary PharmFilm® technology.
A. Mark Schobel, President and CEO of MonoSol Rx, stated, "We are excited that Zuplenz is once again available to meet the needs of patients. We have found the right partner in Vestiq Pharmaceuticals and are excited about their ability to positively impact the supportive care market. We know that this oral film delivery of the drug ondansetron fulfills a significant unmet need, as we have fielded a continuous stream of inquiries from doctors and nurses regarding the availability of Zuplenz. Providers are now able to ensure their patients receive the best care possible by utilizing our innovative drug delivery technology to eliminate swallowing issues and discomfort associated with chemotherapy, radiotherapy, and surgery. Today's announcement reinforces MonoSol Rx's position as a leader in the film space, and our continued dedication to patients in need."
"We are pleased to be working with MonoSol Rx to relaunch Zuplenz into the U.S. market," said Martin Baum, Chairman and CEO of Vestiq Pharmaceuticals. "The oral film delivery technology is a major breakthrough for ease of use and compliance for supportive care patients, who consistently have difficulty swallowing. We intend to build on the initial acceptance of Zuplenz by the oncologists, general surgeon and oncology nurse communities, who are now able to provide their patients with an alternative product for nausea and vomiting."
Zuplenz is a unique formulation of ondansetron developed using MonoSol Rx's proprietary PharmFilm® technology, and co-developed with partner APR Applied Pharma Research s.a. of Switzerland. It is based on a novel and proprietary oral drug delivery technology platform and consists of a polymeric OSF containing ondansetron. Once placed in the mouth, it dissolves in a few seconds and is swallowed with saliva without the need for water.
About MonoSol Rx
MonoSol Rx is a specialty pharmaceutical company leveraging its proprietary PharmFilm® technology to develop products which address the unmet needs of patients. PharmFilm® is designed to benefit patients by improving the convenience, efficacy, and compliance of new and currently marketed drugs. The Company's leadership in film drug delivery is supported by strong intellectual property, a pipeline of prescription formulations based on PharmFilm® technology, and two FDA approvals - Zuplenz®, the first approved prescription oral soluble film for the prevention of chemotherapy-induced, radiotherapy-induced, and postoperative nausea and vomiting, and Suboxone® sublingual film, the first sublingual film product for the treatment of opioid dependence. For press releases and other company information visit www.monosolrx.com.
* PharmFilm is a registered trademark of MonoSol Rx.
About Vestiq Pharmaceuticals
Vestiq is a specialty pharmaceutical company focused on innovative therapeutic remedies within the supportive care markets. Vestiq is committed to becoming the market leader in providing pharmaceutical products and technologies to the supportive care market. The company's portfolio is supported by strong intellectual property, a pipeline of other supportive care prescription products, and a committed commercialization team of industry experts. For additional information, please visit us at www.Vestiqpharma.com.
About APR Applied Pharma Research
APR is an independent, international and integrated Healthcare Company headquartered in Switzerland, which focuses on three major areas: Delivering, Funding and Supporting Innovation in Healthcare. In particular, APR develops and licenses innovative, value added and patented healthcare products and proprietary drug delivery systems primarily in the oral and topical fields; APR also invests in companies or early stage innovative projects and provides a balanced mix of equity funding and/or financing together with APR's development, scientific, technical, marketing, licensing and management skills and know how; finally, APR supports biotech and pharmaceutical companies in the development of new pharmaceutical projects by providing on a contract basis added value, consultancy and R&D services under contract using a General Contractor approach. APR has entered into licensing and partnership agreements with pharmaceutical companies in over 100 countries worldwide with international sales on a worldwide basis.
The Ruth Group (on behalf of MonoSol Rx) Stephanie Carrington/Nicole Greenbaum The Ruth Group 646.536.7000