Oxford Pharmascience announces OXPchew Feasibility and
Option agreement with Major Healthcare Company
Oxford Pharmascience, the specialty pharmaceutical company that uses advanced pharmaceutical technologies to reformulate medicines, today announces it has signed a feasibility and option agreement with a major healthcare company (The Company) to develop a dietary supplement product using OXP’s chew technology for The Company.
Under the terms of the agreement, The Company has engaged Oxford Pharmascience to develop prototype products using its OXPchew technology and received an option to negotiate an exclusive licensing agreement to sell those products under its main multivitamin brand.
Nigel Theobald, Chief Executive, Oxford Pharmascience Group Plc, commented:
This deal represents further progress in the development of our OXPchew business, which is now providing strong and growing revenue. We are making great progress in the £1bn global calcium market and this agreement provides the potential opportunity for us to enter the even larger £4bn+ multivitamin market, with a leading global Multivitamin brand.
We continue to show that our technologies once commercialised are capable of attracting some of the best healthcare companies worldwide as partners.