Printer Friendly

LECTEC BOARD INTENSIFIES FUNDING FOR TRANSDERMAL PATCH DEVELOPMENT; TO TREAT SMOKERS, CANCER PATIENTS, OTHERS

LECTEC BOARD INTENSIFIES FUNDING FOR TRANSDERMAL PATCH DEVELOPMENT;
 TO TREAT SMOKERS, CANCER PATIENTS, OTHERS
 MINNETONKA, Minn., March 12 /PRNewswire/ -- LecTec Corporation (NASDAQ: LECT) today announced that its board of directors has just approved funding to accelerate market introductions of transdermal drug delivery products including those for smoke cessation. The company is targeting major United States and European pharmaceutical companies in order to utilize their existing marketing power to launch the new products.
 LecTec recently announced an agreement with the University of Minnesota for development of a nicotine-free smoking cessation patch. The company is also engaged with Unimed, Inc. in a project for development of a transdermal delivery system for Marinol(R). The drug is an appetite stimulant, anti-emetic and analgesic used for treatment of cancer patients. Additional projects include products for dermatological, analgesic and antibiotic applications. Collaborators with LecTec on these projects include leading U.S. and European pharmaceutical companies, research universities and North American retail marketers.
 LecTec recently announced projects and alliances with various pharmaceutical companies and retail marketers. According to Dr. Thomas Brunelle, senior vice president, "The significant increase in investment approved by our board will accelerate and intensify our research and development of new therapeutic products. We are aggressively pursuing new patents and further refinement of proprietary technology which will fuel the growth of LecTec into the next century."
 "The potential market for transdermal products is in the order of billions of dollars," according to George B. Ingebrand, president and CEO. "The approval by our board to aggressively fund the development of this segment of our company gives LecTec tremendous growth potential."
 LecTec Corporation is a medical products development and manufacturing company headquartered in Minnetonka. In addition to development and manufacture of various transdermal drug delivery systems, the company markets a variety of cardiac electrodes, medical tapes and conductive electromagnetical hydrogels. LecTec is traded on NASDAQ under the symbol LECT.
 -0- 3/12/92
 /CONTACT: Jan Jachimowicz of LecTec, 612-933-2291/
 (LECT) CO: LecTec Corporation ST: Minnesota IN: MTC SU:


KH -- MN006 -- 7789 03/12/92 12:52 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 12, 1992
Words:341
Previous Article:HOME SHOPPING NETWORK REPORTS SECOND QUARTER EARNINGS
Next Article:VISA U.S.A, NFIB FOUNDATION TO ANNOUNCE THE RELEASE OF 'THE PROBLEMS AND PRIORITIES OF SMALL BUSINESS'
Topics:


Related Articles
LECTEC BOARD APPROVES ADDED EMPHASIS ON TRANSDERMAL BUSINESS DEVELOPMENT; CITES SIGNIFICANT OPPORTUNITIES
LECTEC REVIEWING POSSIBLE PATENT INFRINGEMENTS OF TRANSDERMAL NICOTINE TECHNOLOGY
UNIMED, LECTEC TO PURSUE TRANSDERMAL DEVELOPMENT OF MARINOL
PROSTEP NICOTINE TRANSDERMAL SYSTEM RECEIVES APPROVAL
LECTEC TO LAUNCH NEW PRODUCT FOR TREATMENT OF BED SORES AND OTHER CHRONIC WOUNDS
LECTEC AND UNIVERSITY OF MINNESOTA PURSUE SAFER ALTERNATIVE TO NICOTINE FOR SMOKING CESSATION PATCHES
PARKE-DAVIS LAUNCHES NICOTROL, FIRST NICOTINE PATCH FOR WAKING HOURS USE
SANO ANNOUNCES ALLOWANCE OF U.S. PATENT ON TRANSDERMAL BUSPIRONE
Transdermal Patch Formulation Of Anti-Anxiety Medication Holds Promise For Treating Hyperactive Children
Novel Combination-Therapy Patch Shows Promise For Smoking Cessation, Says Sano Corporation

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters