Landmark Agreement with Perrigo
Avecho Biotechnology Limited (ASX:AVE) today announced it has signed a development agreement with leading global consumer packaged goods company, Perrigo, for the development of a topical TPM®-enhanced ibuprofen gel for the US market.
Known for marketing major brands, such as Herron and OsteoEze, Perrigo holds an impressive portfolio of self-care products. Perrigo plans to conduct a clinical trial in a pain-related indication using our Company’s TPM®-enhanced ibuprofen gel. If successful, this gel has potential to become the first topical ibuprofen product approved in the US.
Perrigo Executive Vice-President, James E. Dillard III, said:
“TPM® has been in our sights for some time, having already demonstrated effective performance in other topical pain products. We are delighted to formalise this Agreement with Avecho to realise its potential for enhancing our ibuprofen gel under development.”