Imprimis Pharmaceuticals has entered a strategic development and investment agreement with Professional Compounding Centers of America (PCCA), under which the companies will develop and share drug-formulation technology aimed at developing treatments for muscle and joint pain, neuropathic pain and other conditions. As part of the deal, PCCA has made a $4 million equity investment in Imprimis.
The agreement gives Imprimis access to PCCA's topical technologies and formulation expertise for transdermal drug delivery. The collaboration aims to identify development opportunities for new topical medications for new therapeutic applications.
"This agreement with PCCA will allow us to develop and implement an entirely new model for creating needed drugs for the treatment of a variety of conditions. Under this model, we will look for ways to repurpose or reformulate existing FDA-approved generic drugs, which would be delivered through our proprietary technologies," said Mark L. Baum, chief executive officer of Imprimis. "We are very excited to enter a strategic relationship with such a well-respected company as PCCA, the largest pharmaceutical compounding organization in the North America."
Jim Smith, president of PCCA, said, "Through this agreement, we will leverage our knowledge and products to bring new drugs to the market and ultimately heighten awareness and acceptance of topical drug delivery. By building bridges between compounding pharmacists and drug manufacturers, our members will be best positioned to strengthen the role of independent pharmacies in their communities while continuing to play their crucial role in personalized medicine. We are convinced this new model for the development of drugs is an important advancement for the pharmaceutical industry."