Cipher Pharmaceuticals is engaged in making medicines work better, using advanced drug delivery technologies. Cipher was originally the pharmaceutical division of CML Healthcare one of Canada's largest healthcare services businesses. Cipher became a separate public company in February 2004 and trades on the Toronto Stock Exchange under the symbol 'DND'. Cipher's strategy is to in-license products that incorporate proven drug delivery technologies and advance them through the clinical development and regulatory approval stages, after which the products are out-licensed to international partners.