Redox Pharmaceutical Corporation Establishes a Collaboration with Trima Pharmaceutical Products.SOUTHAMPTON, N.Y.--(BW HealthWire)--June 9, 1999-- Redox Pharmaceutical Corporation and Trima Pharmaceutical Products Maarbarot, Ltd. of Israel announced today the signing of a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ). Under the terms of the agreement, Redox and Trima will establish a collaboration to finance a development program. The companies will evaluate the effectiveness of the combined Trima and Redox technologies towards the treatment of wound healing and oral herpes infection. Under the terms of the MOU, Trima is taking an equity position in Redox. Trima receives exclusive rights in the Trima Territory to be the sole distributor of products developed by Redox and/or its technology. The Trima Territory covers Israel, Gaza Strip, The Western Bank and the Palestinian Autonomy Areas. "We are very excited about this collaboration", says Thomas G. Tachovsky, Ph.D., President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Redox. "This is Redox's first pharmaceutical alliance, and is the foundation for a definitive relationship with Trima", said Dr. Tachovsky. Trima traces it's origins to the early 1960's when Kibbutz kibbutz: see collective farm. kibbutz Israeli communal settlement in which all wealth is held in common and profits are reinvested in the settlement. The first kibbutz was founded in Palestine in 1909; most have since been agricultural. Maabarot, looking to diversify away from its traditional agricultural roots and into industrial manufacture, acquired a small pharmaceutical factory. Trima manufactures and markets a wide range of ethical and over-the-counter pharmaceuticals, and is a market leader in dermatological preparations. Several of its cough and cold preparations, as well as gastroenterology products are brand leaders in their respective fields. New topical and oral NSAID NSAID: see nonsteroidal anti-inflammatory drug. preparations recently introduced are making significant contributions in rheumatology rheumatology /rheu·ma·tol·o·gy/ (-tol´ah-je) the branch of medicine dealing with rheumatic disorders, their causes, pathology, diagnosis, treatment, etc. rheu·ma·tol·o·gy n. and analgesia. Redox is a privately financed, New York-based drug discovery and development company researching novel metallo-organic compounds for therapeutic and prophylactic uses. CTC-96 (trademarked as Doxovir(TM)), Redox's first generation antiviral/anti-inflammatory agent, is being tested for ocular and dermal herpetic infections. Redox currently holds 13 patents in the US and abroad, and has exclusive rights to enzyme inhibitor technology. FORWARD LOOKING STATEMENTS CONTAINED IN THIS RELEASE ARE QUALIFIED BY AND SUBJECT TO THE RISKS AND UNCERTAINTIES SPECIFIED BY REDOX IN ITS MOST RECENT PRIVATE PLACEMENT OFFERING, INCLUDING THE RISK THAT THE PRODUCT MAY NOT RECEIVE FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. APPROVAL IN A TIMELY FASHION. |
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