On 30th November 2011, Q Chip Ltd, the developer of sustained release drug depots, announced that it had signed an agreement with a leading international speciality pharmaceutical company to undertake the development of a sustained release depot of an undisclosed therapeutic peptide.
All the costs of preclinical and clinical development will be borne by Q Chip's partner. In addition, Q Chip will receive substantial success based payments, and will provide the manufactured product after regulatory approval.
Q Chip was advised on this transaction by Allistair Booth.