Signs its 5th international drug delivery agreement
Document date: Mon 01 Jul 2002 Published: Mon 01 Jul 2002 09:44:10
Document No: 191861 Document part: A
Market Flag: Y
Classification: Progress Report
EIFFEL TECHNOLOGIES LIMITED 2002-07-01 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++
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
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]
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