MERRILLVILLE, Ind., July 14, 2016 /PRNewswire/ -- MonoSol Rx LLC, a specialty pharmaceutical company leveraging its PharmFilm® drug delivery technology to improve patient outcomes and address unmet needs, and MonoSol LLC, the Kuraray Company's water-soluble film division, announce an agreement through which MonoSol LLC will receive a perpetual license to MonoSol Rx's intellectual property (IP) for use in defined areas outside of pharmaceuticals in exchange for undisclosed financial terms. This license agreement gives MonoSol LLC access to MonoSol Rx's patent estate for detergent, agrochemical, oil and gas and water treatment applications.
MonoSol Rx is the worldwide leader in film-based drug delivery applications while MonoSol LLC is the worldwide leader in soluble unit dose non-pharmaceutical applications. MonoSol LLC and MonoSol Rx became separate entities in January 2004.
Keith J. Kendall, CEO of MonoSol Rx, commented, "As a leader in film-based drug delivery, MonoSol Rx has built a robust portfolio of intellectual property. We have long been aware of the potential for our proprietary film technology to add substantive value to applications in a wide range of industries. This is an important validation of the strength of our fundamental IP, and we are pleased to license our technology to MonoSol LLC for use outside of the pharmaceutical industry."
P. Scott Bening, MonoSol LLC CEO and Kuraray Executive Officer, added, "We are pleased to have executed this agreement with MonoSol Rx, which provides opportunities for both companies to focus on key markets while fortifying our respective intellectual property estates."
About MonoSol, Kuraray's Water-Soluble Film Division
Kuraray's Water-Soluble Film Division, MonoSol LLC, enhances everyday life. As the global leader of developing water-soluble (WS) delivery systems since 1953, MonoSol serves a wide range of applications from their core business of unit-dose laundry and automatic dishwasher detergents to mold release technologies for the fabrication of solid surface and composite materials. From its unit-dose market foundation in the agricultural chemical industry, MonoSol is venturing into new spaces such as personal care, food ingredients, water treatment and oil and gas to help customers make life easier, safer and more convenient.
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SOURCE MonoSol LLC