Agreement could be worth millions to CeNeS


14-02-2001

Drugs firm CeNeS Pharmaceuticals has signed a money-making deal with one of Canada's largest biotech companies.

The Histon firm has developed a way of dramatically reducing the number of times patients have to inject drugs.



Instead of daily or weekly injections, there is one larger dose which then slowly releases the drug into the body over periods of up to a month.



The new deal will marry the slow release 'Depocore' technology with medicines developed by the giant Canadian Cangene Corporation.



Under the agreement CeNeS will be paid a fee to develop and test the new medicines, and then get a share of the profits from their sale worldwide.



Eventual profits could run into millions.



It is the fourth such deal CeNeS have entered into in the last year with major drugs companies, to the delight of Daniel Roach, the firm's chief executive.



He said: 'Clearly CeNeS is delighted to enter into this agreement with Cangene Corporation, one of Canada's largest and most profitable biotechnology companies.



'It further validates the competitive edge of the group's Depocore technology and CeNeS' growing standing in the drug delivery technologies market.'