re: eif, just keeps getting better 4 September 2003To:...

re: eif, just keeps getting better 4 September 2003
To: Announcements Section ASX
Company: Australian Stock Exchange
No. of Pages: 2
EIFFEL TECHNOLOGIES SIGNS LARGE DRUG DELIVERY
COMPANY FOR INHALED INSULIN
Eiffel Technologies Limited (ASX:EIF) is pleased to announce that it has recently signed
an agreement with a large US-based drug delivery company to develop an inhalable
form of insulin and to undertake pre-clinical research and development using product
modified through Eiffel’s proprietary supercritical fluid (SCF) technology. The terms and
conditions of this agreement preclude disclosure of the party and commercial details until
the research work is completed, which is expected to take up to 12 months. Eiffel will be
dispatching the first shipment of reengineered insulin in the next few weeks, and
anticipates completing the insulin product reengineering aspects of the transaction over
the next eight weeks.
The value of the global market for the delivery of oral, transdermal, injectable and
inhalable drugs is estimated to be between US$40-50 billion, and is growing 2 to 3 times
faster than the overall pharmaceutical market. The global diabetes market is valued at
US$6 billion annually. According to the World Health Organisation, approximately 177
million people worldwide suffer from diabetes, and that number may double by 2005.
Nearly 40% of people with diabetes require insulin injections.
“This new agreement supports Eiffel’s external insulin research program which is
focussed on jointly developing other forms of insulin delivery” said Eiffel MD and CEO,
Christine Cussen. “A particular emphasis of our external program is to develop forms of
insulin relevant to inhalation and transdermal delivery, with potential licensees
undertaking pre-clinical and clinical studies” she went on to say.
In addition to its external program, Eiffel is also undertaking an in-house insulin
reengineering program focussed on producing an improved injectable form of the drug,
with Eiffel bearing the cost of early stage pre-clinical and clinical development prior to
licensing its proprietary technology to pharmaceutical companies. In mid-2002, Eiffel
successfully reengineered injectable insulin, and in pre-clinical studies demonstrated that
its nano-sized drug particles are more effective than current pharmacy grade product.
The Company expects to undertake further pre-clinical and clinical studies of its
proprietary reengineered injectable insulin.
Eiffel Technologies Limited’s business focus is on improving the performance and delivery
of a broad range of pharmaceuticals. Based in Melbourne, Australia, the Company has
effectively over 50 years experience in pharmaceutical particle reengineering and is at the
forefront of SCF research. Eiffel is developing and commercialising a range of drug
reengineering platforms to improve drug performance and delivery and extend patent life.
Eiffel Technologies’ research programme focuses on developing and improving drugs in a
range of therapeutic areas including diabetes, asthma, cardiovascular disease, and antiinflammatory
and antiviral formulations. For more information on Eiffel Technologies,
please visit the Company’s website www.eiffeltechnologies.com.au.
For further information on Eiffel, please contact:-
Ms Christine Cussen Tom Hartigan
Managing Director & Chief Executive Officer Chairman
Eiffel Technologies Limited Eiffel Technologies Limited
Phone: +61 3 9629 8022 Phone: +61 2 9460 2114
Mobile: 0407 532 756 Mobile: 0416 293 886
Email: [email protected]