May. 6, 2014
On May 6, 2014 Cumberland Pharmaceuticals and the Chinese company Gloria Pharma announced a joint research and development initiative. Each company has made a $1 million investment in Cumberland Emerging Technologies ("CET to develop promising biopharmaceutical technologies. The new funds will be used to accelerate development of CET's pipeline of new product candidates emerging from Vanderbilt University and other regional research centers.
CET was established by Cumberland, Vanderbilt University and the state of Tennessee to support the development of biopharma product candidates. Gloria will have the first opportunity to negotiate a license to CET products for China, and Cumberland will retain access to CET's product rights for the rest of the world.