Oramed subsidiary, Laser Detect develop new joint venture
JERUSALEM A subsidiary of Oramed Pharmaceuticals has entered a joint venture with Laser Detect Systems.
In Oramed Ltd.’s new venture with Laser Detect — to be called Entera Bio — Oramed will out-license technology to Entera for the development of oral delivery drugs for certain indications. Laser Detect will invest $600,000 in Entera, and Entera will be owned in equal parts by both entities. Additionally, former Endo executive Phillip Schwartz will serve as Entera’s CEO.
“This joint venture affords an opportunity to explore a technology with different characteristics from Oramed’s main technology, which has the potential to make a significant contribution in the oral drug delivery arena,” said Nadav Kidron, Oramed Pharmaceuticals CEO. “We look forward to a successful relationship with Laser Detect and Entera.”
Crown Crafts acquires Bibsters product from P&G
GONZALES, La. Crown Crafts has acquired a disposable bib product from Procter & Gamble, the company announced last week.
Crown Crafts said its subsidiary Hamco now will manufacture and distribute Bibsters products, a disposable bib that provides coverage for infants and toddlers while feeding, which was introduced by P&G in 2003. Hamco also acquired the inventory associated with the Bibsters product line and plans to integrate the distribution of the Bibsters product line into the Company’s facilities in Compton, Calif.
“We are thrilled to find an opportunity that will complement last year’s acquisition of Neat Solutions by expanding our business in the disposable products category,” said E. Randall Chestnut, chairman, president and CEO. “Hamco already has the overwhelming market share in reusable bibs, and we are confident that the Bibsters line of disposable bibs will solidify Hamco’s position as the overall leader in infant and toddler bibs.”
FDA to review Orexigen’s obesity treatment
SAN DIEGO The Food and Drug Administration has accepted a new drug application from a biopharmaceutical company focused on the treatment of obesity.
Orexigen said its investigational obesity treatment Contrave (naltrexone SR/bupropion SR), which addresses both physiological and behavioral drivers of the disease, was accepted by the FDA, following its Contrave Obesity Research clinical program, which included more than 4,500 patients.
“We are pleased the FDA has accepted our NDA for filing and look forward to working with the agency during the review process,” said Michael Narachi, Orexigen president and CEO. “If approved, we believe Contrave will become an important therapeutic option for obese patients, making weight loss and weight maintenance an achievable cornerstone in the treatment of obesity and its common co-morbidities.”