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Penwest enters into collaboration with PII
April 2007

DANBURY, Conn.—Penwest Pharmaceuticals Co. in late March signed a collaboration agreement with Pharmaceutics International Inc. (PII) under which PII has agreed to conduct formulation work for Penwest and third parties for drugs using Penwest's proprietary oral drug delivery technologies TIMERx, Geminex and Syncrodose. This agreement represents an expansion of Penwest's technology licensing strategy, which the company expects will yield additional collaboration opportunities while also allowing it to maintain its internal focus on developing products for nervous system disorders.
The goal of this collaboration is to continue to leverage the company's established drug delivery expertise while supporting Penwest's transition to a specialty pharmaceutical company. Under the agreement, PII may conduct formulation work for drugs being developed by either Penwest or third parties which license Penwest's delivery technologies.
PII may also independently identify new product opportunities for this collaboration. Under the deal, Penwest and PII will jointly review opportunities for licensing Penwest's oral drug delivery technologies to third parties and may conduct formulation work for such parties if the programs do not conflict with Penwest's internal programs. PII has assumed primary responsibility for formulation development with technical guidance and oversight from Penwest and may take responsibility for clinical trial material manufacturing and commercial manufacturing.
"Since the approval and launch of Opana ER, we have received inquiries from a number of parties regarding licensing our drug development technologies, which we believe confirms that the core TIMERx technologies remain attractive to companies pursuing brand management strategies for their own products," says Jennifer Good, Penwest's president and CEO.



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