Ferring Pharmaceuticals Acquires Novel Drug Delivery Technology from CTCBIO Inc
February 23, 2015 at 02:30 pm IST
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Ferring Pharmaceuticals announced that it has signed an agreement with CTCBIO Inc. to acquire rights to a novel oral drug delivery technology. Under the agreement involving an undisclosed up-front payment, royalty terms, the two companies will collaborate to develop prototype formulations for in-vitro and in-vivo testing and the subsequent up-scaling required to manufacture the technology to meet worldwide good manufacturing practice (GMP) requirements.
CTCBIO Inc. is a Korea-based company engaged in the manufacture and marketing of pharmaceuticals, veterinary drugs, animal feed supplements and functional foods. It pharmaceuticals include anticancer agents, antibiotics, bone injury treatments, antiulcer agents, blood flow stimulants and others. Its veterinary drugs include vaccines, antibiotics, immune enhancers, enzymes, organic acid, avian influenza-related agents and others. Its animal feed supplements include pigments, kapok seed meal, sesame meal and others. Its functional food business includes the development and manufacture of enzymes, lactobacillus and related products mainly used in dairy products. It also involves in the development of pharmaceutical manufacturing technology and know-how. The Company distributes its products within domestic market and to overseas markets.
CTCBIO INC. 
