Danbury company delivers the drugs - Westfair Communications

Penwest Pharmaceuticals Co. in Danbury has signed a research and development agreement with Otsuka Pharmaceutical Company Ltd. of Japan to develop a formulation for an Otsuka compound utilizing Penwest”™s drug-delivery technology. Under terms of the agreement, Penwest will receive undisclosed fees and payments.

The collaboration fits with Penwest”™s previously announced strategy to leverage the value of its proprietary drug-delivery technologies by licensing the technology to other companies “to enhance the therapeutic profiles of existing compounds outside our focus area in neurology,” said Penwest President and CEO Jennifer L. Good. The strategy “will provide additional financial benefit to Penwest while still permitting us to continue to focus on building our own product pipeline.”