October 28, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Access Pharmaceuticals, Inc. (OTCBB: ACCP) said it has entered into a pre-licensing feasibility agreement with another biopharmaceutical company to develop an oral formulation of an undisclosed prostate cancer compound utilizing its proprietary vitamin B-12-based CobOral Drug Delivery Technology.

Under the deal, Access will develop CobOral formulations for testing by the biopharma company. Though the terms of the agreement have not been disclosed, Access indicated that any successful formulation developed will be jointly owned by the parties and subject to a subsequent full licensing agreement.

Texas-based Access Pharmaceuticals develops and commercializes proprietary products for the treatment and supportive care of cancer patients.

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