|By Business Wire||
|August 6, 2013 03:01 AM EDT||
MedPharm Ltd (www.medpharm.co.uk), the topical drug development specialist, today announced it has been granted a series of further patents for its novel MedSpray® topical spray-on-film technology for dermatological, topical and transdermal drug delivery.
The North American drug delivery market is estimated to be worth in excess of $66.7 billion and is expected to register a CAGR of 8.9% between 2012 and 2017, transdermal/buccal systems are expected to make up a significant percentage of this figure1. In addition, dermatological therapeutics in the top seven markets (US, UK, Germany, France, Italy, Spain, and Japan) are projected to grow to $19.1 billion by 20182. Emerging markets are likely to increase the rate of market expansion further and MedSpray®, will help licensees take the lead in this expanding market.
MedSpray® is a novel transdermal and topical drug delivery tool that can be used to deliver drugs in extended release form via spray-on-films delivered to the skin or other mucosal (topical) membranes. MedSpray® offers many advantages over traditional drug delivery systems. The technology allows enhanced drug delivery into or across the skin/mucosal membranes by creating a film, which can be manipulated to suit the specific drug and disease. This results in a lack of first pass metabolism, improved toxicity profiles and the potential for sustained and targeted drug delivery To date, MedSpray® has been trialled with over 20 drugs up to and including clinical evaluation.
CEO Dr Andrew Muddle commented: “We now have patents for MedSpray® in key countries throughout Europe, North America, and the rest of the world including, Brazil, Russia, India and China. Widening our patent coverage will enable us to bolster the commercial use of the technology. Currently MedPharm has a number of licensees developing products with this technology and with these new patents, the company can continue to expand licenced products into new markets.”
“Our strategy is to work successfully with partners to develop new products with drugs provided by licensees,” continues Dr Muddle. “All such MedSpray® agreements are based upon payment of royalties and contract development fees to MedPharm.”
1 Markets and Markets (April 2013): “North American Drug Delivery Technologies Market (Metered Dose Inhalers, Needle-Free Injectors, Auto-Injectors, Nasal Sprays, Transdermal Patches, Nebulizers, Infusion Pumps, Drug Eluting Stents, Sustained Release, Ocular Implants) - Forecasts To 2017”
2 GBI Research (October 2012): “Dermatology Therapeutics Market to 2018 - Novel Biologics Targeting Interleukin-17 Receptor Presents New Options in Psoriasis Treatment”