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18 October 2004 Egalet a/s enters into Technology Agreement with GlaxoSmithKline Consumer Healthcare Egalet a/s, Copenhagen, Denmark today announces an agreement with GlaxoSmithKline Consumer Healthcare (GSK) to develop a new formulation of a non disclosed over-the-counter medicine utilising Egalet’s timed burst release 3Ktm technology. Upon a positive outcome of an agreed feasibility study, GSK will have access to Egalet’s highly specialised proprietary oral drug delivery technology. According to the agreement GSK will fund formulation development of the new product. ”We welcome the opportunity to have GSK as a partner. We believe this partnership will successfully exploit the great potential of the emerging field of specialised drug delivery and patient-friendly pharmaceutical products through the global strength of GSK in the market," says Jan Quistgaard, President & CEO of Egalet a/s. About Egalet a/s A novel Danish drug delivery company established in 1995 based on a new proprietary ground breaking drug delivery technology enabling fast development and highly effective production of sophisticated pharmaceuticals. Egalet a/s concentrates on research and development, aiming at products and processes that have a broad market appeal and the corporate strategy focuses on controlling drug development efforts from product formulation, to clinical testing, regulatory submissions and manufacturing. Egalet a/s is a privately held company with HQ and R&D facilities in Kirke Værløse near Copenhagen and a manufacturing facility in Athlone, Ireland. The Board of Directors includes highly professional specialists with a long experience from the pharmaceutical and economical areas and includes: QueQuoin Holdings Ltd, the majority shareholders in Egalet a/s since 1995. QQH is a venture capital company primarily focusing on investments in life sciences; Bio Fund Management Ltd, one of Europe’s leading venture capital companies in biotechnology; Dansk Kapitalanlæg A/S, the largest venture capital company in Denmark; and Danske Bank A/S, the largest bank in Denmark. About GlaxoSmithKline GlaxoSmithKline (GSK) is one of the world’s leading pharmaceutical and healthcare companies, and is committed to improving the quality of human life by enabling people to do more, feel better and live longer.
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