Helix, PharmaDerm Laboratories Ltd. deal

The companies will develop PharmaDerm's lead products using PharmaDerm's Dermal Drug Delivery System, which provides topical, intradermal or transdermal delivery of compounds. HPB will provide C$650,000 (US$465,400) in funding and will be responsible for regulatory approvals.

HPB will receive worldwide manufacturing and marketing rights, and also has the right to purchase up to 49 percent of PharmaDerm's common stock. Upon achieving certain development milestones, PharmaDerm will have the option to require HPB to purchase the remaining 51 percent. ...