Aegis Therapeutics and Dr. Reddy's Announce Strategic Alliance
HYDERABAD, INDIA and SAN DIEGO, CA--(Marketwire - January 25, 2010) - Dr. Reddy's Laboratories
(NYSE: RDY) and Aegis Therapeutics, LLC (Aegis) today announced a
partnership providing Dr. Reddy's access to Aegis' Intravail® drug
delivery technology for certain undisclosed therapeutics currently being
marketed with annual worldwide sales in excess of U.S. $1 billion.
Financial terms were not disclosed.
Commenting on the collaboration, Raghav Chari, Senior Vice
President-Proprietary Products business, Dr. Reddy's said, "We are
extremely pleased to be working with Aegis and gaining access to their
patented Intravail® drug delivery technologies. The results of successful
human studies completed to date will provide a unique product offering,
satisfying a significant unmet need in the market. We hope this will
continue to provide affordable and innovative medicines to a much wider
population."
Edward T. Maggio, Chief Executive Office, Aegis Therapeutics, added, "Dr.
Reddy's has a worldwide reputation for developing innovative, high quality
branded pharmaceuticals. We are pleased to be working with Dr. Reddy's on
this exciting application of our technology, another significant milestone
in Aegis' commercialization strategy."
The products under the exclusive license agreement will be developed,
manufactured and marketed worldwide by Dr. Reddy's.
Disclaimer
This press release includes forward-looking statements, as defined in the
U.S. Private Securities Litigation Reform Act of 1995. We have based these
forward-looking statements on our current expectations and projections
about future events. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially. Such factors include, but are not limited to, changes in local
and global economic conditions, our ability to successfully implement our
strategy, the market acceptance of and demand for our products, our growth
and expansion, technological change and our exposure to market risks. By
their nature, these expectations and projections are only estimates and
could be materially different from actual results in the future.
About Dr. Reddy's
Established in 1984, Dr. Reddy's Laboratories (NYSE: RDY) is an emerging
global pharmaceutical company. We fulfill our purpose of providing
affordable and innovative medicines through three core businesses:
Pharmaceutical Services and Active Ingredients, Global Generics and
Proprietary Products. Our products are marketed globally, with a focus on
India, US, UK, Germany and Russia. www.dreddys.com
About Aegis Therapeutics
Aegis Therapeutics LLC is a drug delivery technology company
commercializing its patented drug delivery and drug formulation
technologies through product-specific licenses. Our patented Intravail®
drug delivery technology enables the non-invasive delivery of a broad range
of protein, peptide and non-peptide macromolecular and small molecule
therapeutics via the intranasal administration route with exceptionally
high and unmatched bioavailability that can currently only be achieved by
injection. Intravail® has also been successfully applied to buccal, oral,
and rectal administration of both small molecule and peptidic drugs. Our
patented ProTek® technology allows creation of proprietary, easily
manufacturable, and stable aqueous or lyophilized dosage forms that
maintain the integrity and physiological activity of many protein and
peptide therapeutics. ProTek® technology is applicable to injectable,
intranasal, and other dosage forms. For more information about Aegis,
please visit the Aegis website at: www.aegisthera.com.
Contact Information: For more information please contact:
Investors and Financial Analysts:
Kedar Upadhye
+91-40-66834297
Raghavender R
+91-40-66511529
Milan Kalawadia (USA)
+1 908-203-4931
Media:
M Mythili
+91-40-66511620
S Rajan
+91-40-66511725
Aegis Therapeutics:
Ralph Barry
1-858-618-1400 Ext. 102.