Nov 4 2008
MonoSol Rx, the developers of PharmFilm(R) technology and a drug delivery company specializing in dissolving thin film pharmaceutical products, and Midatech Group Ltd, a world leader in the production and application of synthetically produced nanoparticles, announced today a partnership to develop new drug formulations combining biocompatible nanocells and PharmFilm delivery technologies.
Under terms of the agreement, MonoSol Rx and Midatech will jointly research, develop and commercialize new drug candidates designed to deliver therapeutic nanoparticles in thin film. Research and development will occur at MonoSol Rx's facility in Portage, Indiana and Midatech's facilities in Spain and Switzerland. Further terms were not disclosed.
A. Mark Schobel, president and CEO of MonoSol Rx, stated, "Our collaboration with Midatech provides us with an exciting entry into the emerging field of nanomedicine. The size and chemical composition of Midatech's biocompatible nanocells are ideally suited for delivery using our PharmFilm technology, and should provide another avenue for us to extend the commercial potential of new and currently marketed drugs. The combination of these two complementary and well-matched technologies offers a unique opportunity to move beyond the limitations of traditional delivery formulations to create new and compelling drug candidates with the potential for greater convenience, efficacy at lower doses, and faster onset of action. Most importantly, the mating of MonoSol Rx's and Midatech's technologies will enable the oral delivery of many challenging drugs that up to now could not be delivered orally."
Midatech's biocompatible nanocells possess a number of unique properties ideal for therapeutics, diagnostics and other enabling applications. Among the attributes, Midatech's nanocells are water soluble; can present multiple ligands, allowing for multivalent drug or multi-drug delivery on a single particle; and can be delivered via different routes of administration due to their size and stability to enzymatic digestion.
Professor Tom Rademacher, Chairman of Midatech Group, commented, "MonoSol Rx's PharmFilm technology provides an ideal platform for us to evaluate clinical applications for our biocompatible nanocell technology. PharmFilm's ability to carry highly uniform, accurate doses makes it well-suited to deliver our biocompatible nanocells sublingually, buccally or through traditional intragastric delivery. We look forward to working with MonoSol Rx to develop products with new methods of administration for existing drugs."
Keith J. Kendall, executive vice president and CFO of MonoSol Rx, stated, "Midatech's decision to partner with us is a testament to the strength and versatility of our PharmFilm technology platform. As partners, both MonoSol Rx and Midatech are well-positioned to develop and introduce the first thin film nanomedicines into the market."