+++++++++++++++++++++++++ Eiffel Technologies Ltd (EIF: ASX) has signed its fifth international agreement in the area of pharmaceutical reformulation in only eight months. The UK listed pharmaceutical group, Profile Therapeutics plc (LSE: PTP), and Eiffel Technologies will combine their respective technologies to investigate the delivery of an undisclosed pharmaceutical compound in an initial project that is expected to take approximately six months.
"Our fifth agreement with an international pharmaceutical company in such a short period of time is a very positive sign for the Company" said Eiffel CEO Christine Cussen. "It's an indication of the rapid acceptance of SuperCritical (SCF) technology within the pharmaceutical industry and a very positive endorsement that Eiffel is now received as a key player in the international arena of SCF for pharmaceutical reformulation."
"The momentum is clearly building in the use of SCF techniques for pharmaceutical reformulation," said Cussen. "We believe that the low number of commercial competitors in this sector and the very strong interest in the technology by the pharmaceutical and biotechnology industries have been key factors in Eiffel signing its fifth international drug-delivery agreement." Eiffel believes it is the only commercial group that offers the full suite of SCF technologies.
Eiffel is ramping up its development work due to the international expansion of its collaborative work within the pharmaceutical industry, and its new research facility in Sydney is expected to be opened next month.
Unlike traditional drug discovery, re-engineering of currently marketed drugs is quicker and cheaper than new drug development, usually taking between three to five years to bring a reformulated product to market compared to ten to fifteen years in new drug development. Drug re-engineering, using SCF, can be used to extend the patent life of drugs prior to generic competition. This represents a significant commercial opportunity for Eiffel Technologies, given that drugs to the value of $US 40 billion are due to experience generic competition in the next 5 years.
SCF technology involves a chemical engineering technique that can produce consistent and fine pharmaceutical particles without the harsh crushing, milling and grinding techniques currently in place. Increased and more consistent absorption of active pharmaceutical compounds into the body, reduced patient side effects, and the option of alternative, more convenient drug delivery routes are the main advantages the technology offers. The technology is predicted to become the preferred method of production of many pharmaceutical products in the future.
Re-engineering of pharmaceuticals offers the possibility of producing oral or inhaled insulin, replacing the series of multiple daily injections. Inhalation of cancer drugs that currently require daily injection or weekly infusion through hospital admission may also be achieved through particle re-engineering. Reducing dose frequency from daily to once or twice a month for patients with chronic illnesses or reducing the regime of multiple daily tablets by patients with AIDS, for example, to a single combination tablet is a very attractive proposition and a possibility using this technology.
Eiffel Technologies Ltd, is a bioengineering company focused on improving the performance and delivery of pharmaceuticals, proteins and peptides. The company has headquarters in Melbourne and its research facility is located the University of NSW. The company's business model is to enter into long-term manufacturing agreements for the reformulation of pharmaceutical compounds yielding improved therapeutic performance and offering less invasive or streamlined delivery choices for patients.
The company has drug delivery alliances with Sheffield Pharmaceuticals Inc, and BattellePharma Inc in the US, and Amarin Corporation Plc in the UK. Eiffel Technologies is listed on the ASX and currently has a market capitalisation of $15 million. For more information on Eiffel, see the Company website www.eiffeltechnoloqies.com.au for details.
Profile Therapeutics plc ("Profile") is a UK-based drug delivery and specialist pharmaceutical company, focused on providing precise delivery of inhaled drugs to patients for whom conventional mass market inhalers are ineffective or inappropriate. Using its proprietary "intelligent inhaler" technology as the delivery platform. Profile collaborates with pharmaceutical and biopharmaceutical partners to deliver new therapies and existing drugs, that may benefit from a change of route of administration to inhaled delivery. Profile has disclosed collaborations with Pfizer and Schering AG.
In addition, Profile has a specialist pharmaceutical subsidiary, Profile Pharma, which is focused on delivering existing specialist drugs for severe respiratory indications. In March 2002, Profile submitted an application for a marketing authorisation for its first drug, Promixin(TM), an inhaled antibiotic for use in the treatment of Cystic Fibrosis.
Further information on Profile can be found at www.profilehs.com
