MIAMI, Dec. 20, 2012 /PRNewswire/ -- Fuisz Pharma announced today that it has closed a transaction with MonoSol Rx whereby MonoSol Rx has acquired all rights for United States Patent #8,241,661 and its foreign counterparts. The terms of the sale were not disclosed.
Joseph Fuisz Esq., managing member for Fuisz Pharma, explained, "We are pleased to have quickly completed this transaction after a closed bidding process. We are particularly excited that the '661 patent has been acquired by MonoSol Rx. The '661 patent will complement our earlier patent filings for drug containing films, made together with other inventors for Kosmos Pharma, that were similarly acquired by MonoSol Rx and subsequently matured into a robust set of issuances."
Mr. Fuisz continued, "The MonoSol Rx patent estate has achieved a dominant position over an entire dosage form class – orally soluble films. In contrast, the patent estates in orally dissolvable tablets only protected product approaches that were ultimately substitutable in large part. As a result, we believe that MonoSol Rx is the best steward for the '661."
Richard C. Fuisz, M.D. (http://en.wikipedia.org/wiki/Richard_Carl_Fuisz), founding member for Fuisz Pharma, commented, "We are pleased to close this transaction with MonoSol Rx and look forward to announcing additional completed transactions this coming year."
Fuisz Pharma is a private pharmaceutical technology company originated by the Fuiszes. The Fuiszes have extensive experience working across large and specialty pharmaceutical companies. They have made substantial contributions in drug delivery including inventing and developing orally dissolving tablets and novel particle coating systems at Fuisz Technologies, inventing and developing thin film drug delivery technologies at Kosmos Pharma and MonoSol Rx, and independently developing extruded sheet technology, and have extensive experience working with big and specialty pharma. Fuisz Pharma is also active in diagnostics. Fuisz Pharma has its headquarters in Miami and is not affiliated with MonoSol Rx. www.fuisz.com.
SOURCE Fuisz Pharma