MonoSol LLC and MonoSol Rx LLC, two separate companies, have struck a licensing agreement covering the use of intellectual property.
MonoSol Rx, which makes film-based drug delivery products, is agreeing to a perpetual license to allow MonoSol LLC to use its intellectual property for detergent, agrochemical, oil and gas and water treatment applications, the two companies said.
MonoSol LLC, of Merrillville, Ind., and MonoSol Rx, of Warren, N.J., became separate entities in 2004. Kuraray Co. Ltd. bought MonoSol LLC, which makes water soluble films for a variety of applications, in 2012.
“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,” said MonoSol Rx CEO Keith J. Kendall in a statement.
Financial terms were not disclosed.