NitroMed And J&J In NSAID Alliance
The RW Johnson Pharmaceutical Research Institute (PRI) and OrthoPharmaceutical Corp, both divisions of Johnson & Johnson, have signed an agreement with Massachussetts-based NitroMed for the development of a new generation of non-steroidal anti-inflammatory drugs.
No specific financial details will be released, said a spokesman for the company. However, he added, the deal is of a sufficient magnitude to include an equity investment by J&J, licensing fees and milestone payments. NitroMed will also receive royalties on sales of any products arising from the collaboration. This is NitroMed's first strategic alliance; PRI will be responsible for clinical development while Ortho will receive exclusive worldwide marketing rights to any products developed.
NitroMed's technology focuses on the development of specifically-designed small-molecule pharmaceuticals, which exert a therapeutic benefit through the local delivery of nitric oxide to specific tissues and organs.
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