|By PR Newswire||
|December 19, 2013 05:00 AM EST||
NOTTINGHAM, England, Dec. 19, 2013 /PRNewswire/ --A collaborative pharmaceutical project focused on improving the pathway for developing paediatric formulations has been given the go-ahead after successfully securing an innovation grant.
The UK-wide consortium, led by Astra Zeneca, received a £660k grant from the UK's innovation agency, the Technology Strategy Board, to help fund a £1million project aimed at accelerating paediatric formulation development through smart design and predictive science.
The consortium is comprised of pharmaceutical analytical development specialist Molecular Profiles along with Pfizer, Bristol Myers Squibb, GlaxoSmithKline and academic institutions including University College London, University of Bath, University of Birmingham, Aston University and the Academy of Pharmaceutical Sciences (a not-for-profit organisation).
Paediatric formulation development is more complex than the associated adult medicines. In addition to considering the differences in physiology and anatomy, paediatric formulations must offer flexible dosing and provide effective taste-masking.
This project will address the need to improve the speed, cost and quality of paediatric formulation development by drawing on the combined expertise of the consortium members. The goal is to deliver a novel, commercially available, regulatory-approved platform to identify the most appropriate delivery strategy.
Molecular Profiles' chief executive officer Nikin Patel said: "This collaborative project is an ambitious venture aimed at developing a strategic pathway to expedite the development of paediatric formulations, establishing the UK as a global leader in this area. Receipt of the Technology Strategy Board grant will enable us to move forward with this multi-partner project.
"To be involved with such credible consortium members from both large pharmaceutical companies and academia is exciting for Molecular Profiles. Our team is ready to apply our expertise to assist the consortium in achieving its collective goals," concluded Dr. Patel.
The government-backed Technology Strategy Board has awarded over £9.2 million to support 35 collaborative projects to advance the UK's capabilities in formulated products. The funding allocated through the Formulated products - meeting the product and process design challenge was shared across 19 feasibility projects and 16 collaborative R&D projects. The initial funding was increased by 50% due to the strength of submissions.
Molecular Profiles works with leading pharmaceutical companies across the globe and specialises in advanced characterisation, R&D, formulation development and clinical manufacturing services. Its team has specialist knowledge on developing challenging molecules and manufacturing a range of dosage forms spanning solids, liquids, semi-solids and inhaled products, including highly potent compounds. Molecular Profiles is a wholly-owned subsidiary of Columbia Laboratories, Inc. (Nasdaq: CBRX).
Notes for editors:
The Technology Strategy Board is the UK's innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit www.innovateuk.org.
About Columbia Laboratories
Columbia Laboratories, Inc. is a profitable company with a rich heritage in drug development. The Company's revenue streams include sales and royalty revenues from CRINONE® 8% (progesterone gel), which is marketed by Actavis, Inc. in the United States and by Merck Serono S.A. in over 60 other countries worldwide, and revenues from its wholly-owned subsidiary Molecular Profiles Ltd., a UK-based provider of pharmaceutical formulation development and manufacturing services. For more information, please visit www.columbialabs.com.
Molecular Profiles™ is a registered trademark of Molecular Profiles Ltd.
SOURCE Columbia Laboratories, Inc.