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Biotech / Medical : T/FIF, a New Plateau -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (1017)	3/15/2002 6:16:35 PM
From: Icebrg	Read Replies (1) \| Respond to of 2243

Verion Inc and Elan 2 Feb 2001 Verion, Inc. has entered a joint venture with Elan Pharma International Ltd., an affiliate of Elan Corporation, plc, a world leader in drug delivery systems. The joint venture, Verion Newco Ltd., will use both companies' patented drug delivery technologies -- Verion's Pressure Pulse Technology (PPT) and Elan's NanoCrystal technology -- to develop new controlled-release drug compounds. Details of the agreement were not disclosed. According to SG Cowen, an industry analyst, sales of drugs using drug delivery technologies are expected to reach $24 billion by 2003. "We are very pleased to have Elan as a partner," said John Sedor, President and CEO of Verion Inc. "This agreement allows us to capitalize on complementary technologies and expertise, resulting in the accelerated development of major improvements in drug delivery. Our focused efforts with Elan represent a first step toward fully exploiting the broad range of applications we see for PPT within the pharmaceutical industry." Dr. Larry Sternson, President of Elan Pharmaceutical Technologies, said, "Elan is delighted to be working with Verion on the development, manufacture and eventual commercialisation of controlled-release pharmaceutical products. We believe that our combined technologies will lead to substantially improved dosing, reduced side effects, and enhanced patient compliance." Verion's technology is unique in the drug delivery industry. Its PPT technology platform functions by applying high pressure to chemical compounds for short periods of time, changing physical characteristics without altering their chemical properties. As a result, PPT improves the design and performance of controlled-release drugs. The technology also improves product stability and protects active ingredients from moisture and other undesirable environmental elements. Verion is a privately held company that specializes in innovative delivery systems for the pharmaceutical industry. The company seeks to become a leader in the global microencapsulation, drug delivery and oral dosage markets.