Signs Drug Delivery Company for Transdermal Insulin-Date 17/9/2003:
http://stocknessmonster.com/news-item?S=EIF&E=ASX&N=208919
The Directors of Eiffel Technologies Limited (ASX:EIF) are pleased to announce that the Company has recently signed an agreement with a US-based transdermal drug delivery company to supply reengineered insulin using Eiffel’s proprietary Supercritical Fluid technology for testing in the company’s transdermal delivery system.
Specific terms and conditions of the collaboration have not been disclosed with Eiffel expecting the research
work to be completed by end of 2003.
This agreement is part of Eiffel’s external research programme which focuses on jointly developing alternative forms of insulin, in particular inhaleable and transdermal with potential licensees undertaking preclinical and clinical insulin studies and sharing
research and development costs with Eiffel.
The Company’s in-house insulin research looks at producing improved injectable forms of the drug with Eiffel bearing the cost of early stage development prior to licensing its proprietary technology to pharmaceutical
companies.
“This agreement forms part of our strategy to jointly develop non-injectable forms of
insulin with external parties,” said Eiffel’s Managing Director and CEO, Christine Cussen.
“This collaboration also highlights the versatility of our technology for use in the delivery of transdermal as well as inhaleable and oral drugs. This partnership is an ideal
marriage between Eiffel’s Supercritical Fluid capability and our partner’s expertise in transdermal delivery.”
Administering drugs across the skin is a very convenient form of delivery, with transdermal drug formulations accounting for 15% of the US$50 billion global drug
delivery market for oral, injectable and inhalational drugs. The global diabetes market is valued at US$6 billion annually.
EIF
eiffel technologies limited
