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TransPharma Medical Receives Second Milestone Payment from Teva Pharmaceutical Industries

13 Jun 2007 - TransPharma Medical Ltd., a specialty pharmaceutical company focused on the development and commercialization of drug products utilizing a proprietary active transdermal drug delivery technology, announced it has received its second milestone payment from Teva Pharmaceutical Industries for the successful development of a stable human growth hormone (hGH) dry form patch required for advanced clinical trials of Teva's transdermal hGH product.
 
The milestone achieved is in line with the product development plan of hGH, the first of up to five molecules designated for joint development by TransPharma and Teva in an agreement originally signed between the two companies in 2004. Under the agreement, Teva will exclusively market each of the drug products and will pay TransPharma milestone payments, royalties, and development costs.