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Tuesday, Aug 62013, 10:16 AM
Tuesday, Aug 62013, 10:16 AM| Comment!
- 3M (MMM) agrees to license and then sell its Taper Dry Powder Inhaler (DPI) technology, which is being developed to treat asthma and chronic obstructive pulmonary disease, to Adamis Pharmaceuticals Pharmaceuticals (ADMP.OB +5%).
- 3M will also supply the drug delivery tape for the platform to Adamis under a separate agreement.
- The DPI is being developed to compete with other dry powder inhalers such as GlaxoSmithKline's Advair Diskus, which generates $13B a year. Adamis intends to develop a branded generic version using 3M's Taper DPI tech.
- Adamis will pay an undisclosed fee for the license and then a further amount before December in order to acquire the tech. (PR)
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