Remeditex Ventures and Velocity Pharmaceutical Development (VPD) inked a cooperation agreement. Under the collaboration agreement, both companies would evaluate management and funding opportunities in pharmaceutical development. As a result of their alliance, Remeditex invested in Tigercat Pharma Inc, a pharmaceutical development firm managed by VPD. Remeditex is an investment firm based in Dallas, Texas. VPD, meanwhile, is headquartered in San Francisco, California.

Remeditex Chief Scientific Officer Dennis Stone lauded the world-class group team that VPD has put together. "Everyone at Remeditex is thrilled to be working with the VPD team. We look forward to identifying and developing a series of promising pharmaceutical candidates in partnership with VPD," he added.

VPD Chief Executive Officer David Collier said he is honored of his firm's partnership with Remeditex. "The Remeditex team, network and experience perfectly complement the skill set we have at VPD. Having Remeditex as a potential funding partner greatly expands the scope of opportunities we can address at VPD," he said.