Recipharm has made an equity investment in Synthonics Inc. and purchased $2.0 million of stock in the company. A further $2.0 million of stock will be purchased upon Synthonics’ achievement of certain milestones, which could be expected during 2016.

The companies have also entered into a joint development agreement under which Synthonics gains access to Recipharm’s drug development, marketing and manufacturing expertise in exchange for a royalty payment on certain Synthonics compounds. Synthonics has developed a drug delivery technology for metal coordination of pharmaceutical APIs.

Ken Slepicka, chief executive officer of Synthonics, said, “Synthonics is delighted to extend the partnership with Recipharm to help advance promising molecules to market. We are very impressed with Recipharm’s formulation and development teams and expect this agreement and financial support to help us further advance several of our current projects to commercialization.