Nitto Denko Corporation (Headquarters: Osaka, Japan; President, CEO & COO: Hideo Takasaki; hereafter 'Nitto') today announced the signing of a partnership agreement with global pharmaceutical company Daiichi Sankyo Company, Ltd. (hereafter 'Daiichi Sankyo') that will utilize Nitto's proprietary PassPort® active transdermal drug delivery technology.

Based on this agreement, Nitto will provide exclusive rights to the PassPort® System for an undisclosed compound owned by Daiichi Sankyo and will support clinical development of the candidate in the United States. Nitto will be responsible for manufacturing the innovative transdermal patches and device components associated with the product. Financial terms were not disclosed.

The PassPort® System is designed to provide transdermal delivery of therapeutics that are typically limited to invasive and often painful injection or infusion methods. In addition to being convenient for both patients and caregivers, the Nitto's technology aims to provide a new option for compounds with administration issues.

Going forward, Nitto will continue to accelerate the commercialization of its novel drug delivery system through the partnership agreement with Daiichi Sankyo.

Nitto Denko Corporation published this content on 10 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 May 2016 04:06:02 UTC.

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