TransForm Receives Milestone Payment from AstraZeneca
LEXINGTON, Mass.--(BUSINESS WIRE)--Dec. 1, 2004--TransForm Pharmaceuticals, Inc. (TransForm) announced today that it received an initial milestone payment in connection with having successfully concluded a series of crystallization studies under its relationship with AstraZeneca.
Under the terms of the agreement, TransForm receives research funding and payments for meeting success criteria in connection with performing comprehensive crystallization studies on specific AstraZeneca compounds. Additional financial terms were not disclosed.
"We pride ourselves on our ability to combine distinctive technologies with good science, to tackle some of the tougher physico-chemical challenges that our partners need to overcome," commented Colin Gardner, Ph.D., TransForm's Chief Scientific Officer. "As we have now demonstrated with several large pharma partners, TransForm possesses a powerful set of capabilities to rapidly discover novel crystalline forms, such as unusual salts and co-crystals, of even well-studied drug molecules. Such discoveries may enable further development of amorphous, poorly soluble or unstable compounds, as well as more proactive life cycle management of promising drug molecules already in the later stages of clinical development." Gardner continued, "We're pleased to have demonstrated success in our contribution to one of AstraZeneca's projects."
About TransForm
TransForm Pharmaceuticals, an emerging pharmaceutical company, is building a proprietary pipeline of product candidates that consist of meaningful enhancements to marketed drugs. As a leader in the discovery of superior formulations and novel crystalline forms of drug molecules, TransForm also counts several of the world's top pharmaceutical companies among its partners. By applying its high throughput experimentation technologies to vary crystalline form and improve drug formulation, TransForm can enable and/or expedite the development of important new products by enhancing their solubility, bioavailability and/or stability. TransForm also complements innovators' product life cycle management efforts by enabling broad intellectual property protection of forms and formulations and, in some instances, by identifying forms or formulations that are uniquely enabling of new drug delivery options. In addition to building a robust product pipeline, TransForm is leveraging its capabilities into medicated devices and biologics. More information on TransForm can be found at: www.transformpharma.com. |
