Avecho Biotechnology Limited announced it has signed an agreement (the "Agreement") with Perrigo Company plc, for the development of a TPM«-enhanced ibuprofen gel product for the US market. Perrigo, a leading global consumer self-care company with a vision to make lives better, markets major brands including Herron, Nicotinell and OsteoEze. Its global portfolio of self-care products generated net sales of more than USD 4 billion in 2021.

Perrigo was drawn to compelling evidence that TPM« may improve the performance of ibuprofen gels. Development work conducted by Avecho has shown that ibuprofen gels formulated with TPM can increase the transdermal absorption of ibuprofen by ~200% when compared with commercially available topical ibuprofen products such as Nurofen, Fenbid, and Ibuleve. Perrigo is planning to conduct a clinical trial in a pain-related indication using the ibuprofen TPM« gel in 2023.

Pending positive results of this trial, the TPM«-enhanced gel has the potential to be the first topical ibuprofen product approved in the U.S.