Midatech, a nanomedicine company developing MidaForm nanoparticle excipients, and MonoSol Rx, a company developing PharmFilm drug delivery technology, have formed a joint venture company, MidaSol Therapeutics.
MidaSol Therapeutics provides non-invasive treatment choice for diabetic patients by offering non-injectable insulin. The delivery of nanoparticle-stabilized insulin through buccal is a suitable replacement to injectable insulin.
Through licensing and partnering, MidaSol Therapeutics will commercialize products based on the intellectual property of the technologies of Midatech and MonoSol Rx for treating diabetes. Recently, the two companies have started a Phase I clinical trial of their most sophisticated candidate that uses MidaForm insulin, the insulin-passivated gold glyconanoparticles, formulated for delivering it through buccal using PharmFilm technology. The Phase I study results are anticipated to be released in the first half of the fiscal year 2012.
Products in the pipeline for commercialization are MidaForm GLP-1 formulated into PharmFilm and a specially mixed MidaForm nanoparticle comprising therapeutic levels of GLP-1 and insulin on the same nanoparticle.
Midatech’s Chairman Tom Rademacher stated that the establishment of the joint venture company is a major milestone towards the commercialization of MidaForm GLP-1, MidaForm insulin and MidaForm GLP-1/insulin containing formulations. The company in partnership with other pharmaceutical companies will offer efficient treatments to diabetic patients, Rademacher said.
MonoSol Rx’ President and Chief Executive Officer, A. Mark Schobel commented that the positive preclinical results generated by Midatech and MonoSol Rx until today corroborate a major progress for the treatment of diabetes.
Source: http://www.midatechgroup.com