Oct. 5, 2010, InnoPharmax has entered into a collaboration agreement with an undisclosed European pharmaceutical company to commercialize their products, gadolinium-based magnetic resonance imaging (MRI) contrast agents, in EU market. The undisclosed European partner develops, produces and sells pharmaceutical products for 25 pharmaceutical companies in EU market.
 

Under the collaboration, InnoPharmax will be responsible for the API supply, formulation development and manufacturing; on the other hand, the European partner will be responsible for the regulatory applications as well as for the products distribution in the authorized territory. The agreement is part of InnoPharmax's established strategy - to develop and distribute products based on global market consideration.
 

About MRI Contrast Agents
MRI contrast agents are used to improve the visibility of internal body structures in MRI. The most commonly used compounds for contrast enhancement are gadolinium-based. MRI contrast agents alter the relaxation times of tissues and body cavities where they are present.
 

About InnoPharmax
InnoPharmax is a specialty pharmaceutical company focused in the development and commercialization of products for the treatment of infectious diseases, immunology and oncology. It develops and acquires potential drug candidates for further development as well as commercialization, and uses internally developed drug delivery technology platforms for improving the safety and effectiveness of currently available drugs to provide better medical choices in these specific disease categories.