Pharmaxis lands US$5 million deal with global drug delivery specialist

Pharmaxis CEO Gary Phillips details a multi-million-dollar deal the company’s just struck with global drug delivery specialist Aptar Pharma. Aptar has exercised its option to secure a worldwide licence on the Pharmaxis Orbital technology for US$2.5 million. Moreover, Aptar will move ahead with a subsequent option to buy the technology outright for a further US$2.5 million, delivering a US$5 million cash injection to the ASX-lister. Phillips says the deal highlights his team’s capabilities and that the funding will support development opportunities through to 2023.