BioProgress to restructure existing arrangement with FMC
Cambridge-based BioProgress announced the restructuring of its existing arrangement with FMC for NRobe technology and has signed a binding agreement to that effect.The new arrangement will allow NRobe, an oral drug delivery technology, to be launched with major pharmaceutical companies. The agreement will see BioProgress earn up to 20 per cent of all milestone and royalty income received by FMC on commercialised NRobe products and supply film.
Both parties have also agreed to explore opportunities that would allow BioProgress to utilise the NRobe technology for its own developed products, to be marketed by the Company’s pharmaceutical products division, Dexo BioPharm.
“The new arrangements with our partner FMC provide an exciting platform for growth within both organisations,” said Richard Trevillion, BioProgress CEO.