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MedPharm Announces Evaluation Agreement for MedSpray; UK Pharmaceutical Development Expert Predicts Stream of Licensing Enquiries for its Innovative 'Patch in a Can'(TM) Delivery Technology |
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26 Jan 2006 |
Phoenix, Ariz.US | Jan. 25, 2006 | UK pharmaceutical development specialist MedPharm Ltd today announced at the 10th Annual Drug Delivery Partnerships meeting in Phoenix that it has signed the first in a predicted series of licensing evaluation agreements for its new MedSpray(TM) technology. The name of the partner, a leading international pharmaceutical company was not disclosed, although it was confirmed that Medpharm will receive an undisclosed fee for the evaluation. Spray technology is rapidly becoming the delivery method of choice in the dermatology market due to its increased patient acceptance and consumer appeal, particularly among the young, and ability to deliver increased efficacy with lower dosage rates. MedSpray also shows considerable promise for transdermal delivery.
Announcing the agreement, MedPharm CSO and co-inventor of the technology Dr Marc Brown commented: "MedSpray has a wide range of applications for both dermal and transdermal delivery. Our initial target for MedSpray is the dermatology market, which continues to grow at record rates. We've chosen dermatology because patients expect not only increased efficacy from a product or brand, but also greater ease and convenience of use." MedPharm's CEO, Dr Andrew Muddle, added: "We are convinced our technology offers a significant competitive advantage over creams, ointments and gels that together are losing favour amongst young adults in particular. By addressing these challenges MedSpray will be attractive to all companies active in the sector. Firstly we can reformulate existing drugs and thus extend patent life, and secondly we can offer more competitive products. We have already initiated a number of clinical development projects ourselves and are now looking to license MedSpray on an indication by indication basis to interested parties. We expect the Evaluation Agreement we have signed today to lead to the first of many licensing relationships for the technology. Already the interest levels have been very high."
Source: MedPharm Ltd |
