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News  ›  GlobeNewswire Inc.

NEXGEL Announces Spin-Off of Drug Delivery Program into NexGelRx

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Adam Levy
NEXGEL Announces Spin-Off of Drug Delivery Program into NexGelRx

NEXGEL has created a spin-off company, NexGelRx, to focus exclusively on developing prescription drug delivery solutions using its proprietary hydrogel technology. NEXGEL will retain a 19.99% non-dilutive equity stake and receive a 5% perpetual global royalty.

Insights
VWAGY   neutral

Mentioned as a joint venture partner for Rivian's software and service revenue, with no specific performance assessment


NXGL   positive

Company is strategically creating a focused entity to explore potential high-value opportunities without direct financial risk, while maintaining a financial stake and manufacturing role