Cipher Pharmaceuticals, a subsidiary of Canadian Medical Laboratories Ltd. (Mississauga, ON, Canada), has successfully completed a worldwide licensing agreement for the development of sustained-release Tramadol, the company announced today.
Under the terms of the agreement, Cipher has obtained exclusive worldwide rights to a patent pending product developed by Galephar Pharmaceutical Research of Puerto Rico for the treatment of chronic pain syndromes in a once-daily format.
Tramadol is currently available in the United States as an immediate-release, requiring doses three to four times daily. According to the company, the U.S. market for such a product is currently valued at over $500 million. Cipher believes it will cost approximately $4-6 million to complete the clinical development of the product, which the company plans to initiate during the first half of 2001.
Galephar is a Puerto Rico-based drug development company operating in the field of improving upon pre-existing drug formulations. Galephar is an international company with various technology platforms including controlled release drug delivery, dry powder inhalers, and gelatin capsules with lipophilic ingredients.
Canadian Medical Laboratories is a healthcare company providing healthcare and diagnostic services in Ontario and pharmaceutical research services throughout North America.