Critical Pharmaceuticals, an emerging biotechnology company and PolyTherics Limited, innovators in precision improvement of proteins and peptides, announced a collaboration to develop a novel injectable sustained release drug delivery system for a high value biological drug. The companies have been awarded a grant from the government-backed Technology Strategy Board to develop the technology and prototype drug.
The aim of the collaboration is to produce a clinically superior sustained release product that can be administered less frequently than currently marketed products, with a potential reduction in side effects and improved overall efficacy.
Professor Lisbeth Illum, Chief Executive Officer of Critical Pharmaceuticals commented: “We are delighted to be working with PolyTherics to address a significant need for improved biotechnology products. The technology we develop together has the potential to create an enhanced delivery platform for a wide range of biological drugs that will provide an attractive alternative to frequent injections for patients, clinicians and healthcare providers.”
The project is scheduled to run for two years with a total budget of just under £700,000; the Technology Strategy Board will meet half the costs to support the development of the technology and a novel long acting product up to proof of concept in an established disease model.
Dr Keith Powell, Chief Executive Officer, commented “This joint project gives us an opportunity to develop a unique technology and we are delighted to have received this additional support from the Technology Strategy Board to enable us to work with Critical Pharmaceuticals to produce a better product for patients”.
Date: April 5, 2011
Source: Critical Pharmaceuticals