Archimedes buys Fennopharma IP

Archimedes Development, a subsidiary of UK-based Archimedes Pharma, has acquired a portfolio of intellectual property relating to a range of novel chemical derivatives of chitosan from Fennopharma, an innovative R&D company based in Kuopio, Finland.

The IP acquired relates to highly water-soluble forms of chitosan, a bioadhesive polymer derived from natural sources. Under the agreement, Fennopharma assigns to Archimedes exclusive rights to key chitosan-related patents and all technical information and know-how on preclinical development and manufacturing. Fennopharma will also be contracted to synthesize and supply Archimedes with material in the short-term. Financial details of the deal have not been disclosed.

This will allow Archimedes to significantly extend the applicability of ChiSys, Archimedes' proprietary chitosan-based intranasal drug delivery technology. A particular advantage of this is that the effectiveness of ChiSys is maintained at a range of physiological pH.