NECTID announces sale of certain drug delivery patents. Princeton, New Jersey – April 26, 2010
Nectid, Inc. (www.nectid.com
), a Princeton based pharmaceutical product development company focused on developing innovative drug delivery technologies, announced the sale of its portfolio of patents to Pro-Tect Inc, a West Caldwell , NJ based pharmaceutical company, traded under ticker symbol PRTT. The patent portfolio divested includes a limited number of patents and patent applications related to once daily calcium channel inhibitor, once daily abuse deterrent opioid formulations and once daily formulations of opioids and antagonists.
In connection with this sale, Nectid will have a substantial stake in Pro-Tect and have its nominees on the Board of Directors of Pr-Tect, Inc. Nectidís founder Ram Sesha said, ďThis acquisition is a testimony to Nectidís developmental capabilities and will enable Nectid to commercialize these important intellectual properties using Pro-Tect's access to capital markets".
), is a Princeton based drug-delivery company that focuses exclusively on Pain and Metabolic diseases. Nectid has developed first in class gastro retentive and osmotic 24 hours drug delivery platform suitable for combination drugs. The products developed include opioid, DPP IV inhibitor, calcium channel inhibitor and SGLT2 inhibitor combinations.