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Velocity taps EuMederis for drug program

Velocity Pharmaceutical Development LLC inked a licensing deal to pursue a drug development program with San Diego-based EuMederis Pharmaceuticals Inc.

Under the agreement, San Francisco-based Velocity will use the seed-stage biotechnology firm's EuPort technology for optimizing the pharmaceutical properties of peptide drugs.

Research and further development is being funded and carried out through special purpose development company Spitfire Pharma Inc.

The program will be managed by members of the Velocity team and by John Nestor, Ph.D., CEO of EuMederis.

Peptide hormones control a host of critical functions throughout the body. Peptide drugs, however, typically have a short duration of action and require self-injection, thus limiting their utility.

Recent advances in the design, synthesis and delivery of peptides, such as the EuPort technology, have increased interest in this attractive pharmaceutical class.

Terms of the deal are unannounced at this time.

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