Fuisz Tech Deals For Drug Development

USA-based Fuisz Technologies says it has reached a series of development agreements and option and licensing deals with an unidentified pharmaceutical company to develop controlled-release, once-daily dosage formulations of five major prescription drugs using Fuisz' proprietary technologies.

Without giving terms or the names of the drugs involved, Fuisz' chairman and chief executive Richard Fuisz said the agreements "mark our first partnership to develop improved controlled-release prescription products and validate the vigorous expansion of our business efforts in the ethical pharmaceutical arena." These collaborations, he added, have successfully initiated development efforts far in advance of the company's original late-summer 1996 timetable.