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The polymer drug delivery system was developed at the Massachusetts Institute of Technology and licensed to Nova in 1986

Executive Summary

Soon after Nova licensed the biodegradable polymer from MIT, the Baltimore firm signed a $10 mil. research/equity investment agreement with Celanese to pursue drug delivery systems ("The Pink Sheet" March 31, 1986, T&G-1). In the current trials, the biodegradable polymer will be used with the anti-cancer generic drug BCNU. After a brain tumor is removed, the polymer/BCNU will be implanted into the patient's brain, releasing high concentrations of the drug in an attempt to destroy any remaining cancer cells. Nova has worldwide exclusive rights to all pharmaceutical applications of the drug delivery technology.
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