Intech Biopharm Corp (????) has started testing the effects of a metered-dose inhaler generic of Teva Pharmaceutical Industries Ltd’s ProAir, and expects to gain marketing approval by 2023, it said yesterday.
Shares in Intec Pharma have come under pressure again, following Novartis’ decision to exit a partnership focused on its Accordion drug delivery technology.
Just when a key trial testing the company’s Accordion drug delivery tech imploded in Parkinson’s disease, they handed Novartis data from a successful PK study of a custom Accordion pill engineered to deliver a Novartis compound to entice the Swiss drugmaker into signing a licensing agreement.
Intec Pharma to Continue Development Collaboration to Next Phase
Intec Pharma Ltd. (NASDAQ and TASE: NTEC) today announced the closing of its previously announced offering of 6.75 million of its ordinary shares, at a public offering price of $5.25 per ordinary share, for gross proceeds of approximately $35.4 million, before deducting underwriting discounts and commissions and other estimated offering expenses.