Particle Sciences has entered into an exclusive agreement with Actavis plc to develop an undisclosed complex generic product. Particle Sciences is responsible for design, formulation and cGMP supplies, and will receive undisclosed milestone and revenue- based payments. Actavis will be responsible for clinical testing, regulatory filings and marketing.
"We have worked with Actavis on a number of projects in the past," said Mark Mitchnick, Particle Sciences' chief executive officer. "This latest one leverages several of Particle Sciences core skillsets focused on sterile products with challenging formulation targets."
"Over the past several years Particle Sciences has intentionally moved towards closer relationships with our clients by structuring our interactions to best align our respective goals," Mitchnick added. "This latest venture is a great example, and we are very pleased to have Actavis as our co-developer and marketer."