Signs Second Agreement with Battleepharma
14-06 0945
Eiffel Technologies Ltd (EIF: ASX) announced today it has signed a
second agreement with BattellePharma, a pre-public specialty
pharmaceutical company based in the United States. Under this
12-month contract, Eiffel will create drug nanoparticles for
BattellePharma's asthma product, now in development, using its suite
of Supercritical Fluid (SCF) technologies. BattellePharma will
utilize the drug particles in the development of a novel asthma
product and will test it using BattellePharma's proprietary
Mystic(TM) inhalation delivery technology. Eiffel will retain the
intellectual property that relates to the process and methodology of
its SCF technology. Specific details of the agreement and the project
were not disclosed.
Eiffel's SCF technology is a chemical engineering technique that is
emerging within the pharmaceutical industry as a tool used to improve
drug delivery and effectiveness. It results in increased and more
consistent absorption of drugs in the body, reduced patient side
effects, and increased efficacy and delivery options. The
re-engineering of existing therapies is a way to extend the patent
life of currently marketed and generic drugs.
This is the fourth international drug delivery agreement in six
months for Eiffel Technologies. This second collaboration with
BattellePharma, which has partnerships with several major
pharmaceutical groups, follows a recently completed initial research
collaboration with the company. Eiffel's other recently announced
partnerships include a contract signed with Sheffield Pharmaceuticals
Inc, in the US in December 2001, and a research collaboration
signed in May 2002 with Amarin Corporation in the United Kingdom.
With more than US $40 billion in drugs coming off patent over the
next five years, there is a need for improved drug delivery and
performance through particle re-engineering. The global market for
asthma therapeutics is estimated at more than US $8 billion a year
and more than 100 million people suffer from asthma worldwide.
"This second agreement with BattellePharma is a revenue generating
contract and serves as a strong endorsement for our SCF
technologies," said Christine Cussen, Eiffel Technologies CEO.
"Eiffel adds value by reformulating new, currently marketed, and
generic pharmaceuticals to improve the performance of therapies and
offer more convenient, patient-friendly delivery of drugs. The
BattellePharma agreement represents the potential to progress towards
a long term supply agreement with a highly reputable pharmaceutical
Company."
"We are pleased to continue our relationship with Eiffel," said
Dennis Cearlock, BattellePharma's CEO. "Our Mystic technology, which
outperforms current inhaled drug delivery options, allows for highly
reproducible dosing, resulting in better disease management and lower
overall doses for improved safety. We believe the combination of the
SCF technology and our Mystic delivery system will enhance the
performance of BattellePharma's asthma product."
Eiffel Technologies Ltd, is a bioengineering company focused on
improving the performance and delivery of pharmaceuticals, proteins
and peptides. Based in Melbourne, Australia, the company is dedicated
to the development and commercialization of SCF drug re-engineering
technologies to improve therapeutic outcomes and patient
administration of new and currently marketed pharmaceuticals. For
more information on Eiffel Technologies, see the company website
www.eiffeltechnologies.com.au for details.
BattellePharma is a pre-public specialty pharmaceutical company
leveraging science and technology to design more effective medicines.
The company has a growing portfolio of nine products in development,
with several in early clinical trials. The products are based on
three proprietary platforms: Mystic(TM) inhalation technology, novel
formulation technologies, and inhaled anticancer therapy. The company
develops products by combining these platforms with novel or generic
compounds to create therapies to treat respiratory and systemic
diseases and lung cancer. BattellePharma has partnerships with
numerous pharmaceutical corporations, including Abbott Laboratories,
GlaxoSmithKline, Pfizer Inc, Viasys Healthcare, and ViroPharma Inc,
and is a subsidiary of Battelle Memorial Institute, the world's
largest independent and private research and development
organization. For more information on BattellePharma, reference the
company's website at www.bettellepharma.com.
For further information, please contact: -
Christine M Cussen
CHIEF EXECUTIVE OFFICER
Eiffel Technologies Limited
Level 14/50 Market Street
MELBOURNE VIC 3000
Tel: +61 3 9629 8022
Fax: +61 3 9629 8077
Email: [email protected]
Or
Sam Quigley
CHAIRMAN, EIFFEL RESEARCH & DEVELOPMENT PTY LTD
AND DIRECTOR, Eiffel Technologies Limited
Tel: +61 3 9614 5505
Email: [email protected]
ends - AAP
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