PhytoMedical forms license agreement for synthesized compounds

By Elaine Rigoli

Tampa, Fla., June 13 - PhytoMedical Technologies, Inc. said it has entered into an exclusive license agreement with Iowa State University Research Foundation Inc. to develop, market and distribute novel synthesized compounds derived from type A-1 polyphenols, which have been linked to insulin sensitivity.

Under the agreement, PhytoMedical paid an upfront license fee to the university research foundation and agreed to pay future undisclosed milestone payments.

In addition, the research foundation will receive royalty payments based on sales, according to a news release.

PhytoMedical will administer the development, regulatory approval and commercialization of the compounds as well as pursue future collaborative arrangements.

The synthesized type A-1 polyphenols will be developed by PhytoMedical as a new class of compounds for type 2 diabetes.

A published study confirmed that these compounds are able to improve insulin sensitivity and reduce blood sugar levels by up to 29%.

An additional range of applications for these compounds includes Alzheimer's, cancer and cardiovascular disease.

PhytoMedical is an early stage research-based biopharmaceutical company located in Princeton, N.J.

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