PolyTherics and Critical Pharmaceuticals enter drug development collaboration with TSB funding
Critical Pharmaceuticals and PolyTherics Limited innovators in precision improvement of proteins and peptides, today 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.
Critical Pharmaceuticals, an emerging biotechnology company and PolyTherics Limited ("PolyTherics"), innovators in precision improvement of proteins and peptides, today 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”.