Vectura and Ranbaxy to collaborate on a novel oral controlled-released system
05 Jun 2001
Vectura and Ranbaxy to collaborate on a novel oral controlled-released system
June 5th 2001 Ranbaxy (Netherlands) B.V., an affiliate of Ranbaxy Laboratories Limited, ('Ranbaxy') and Vectura Limited ('Vectura'), a world leader in the application of particle science for the development of novel drug delivery systems, today announced a collaboration to develop a novel, cost-effective, patent-protected, oral controlled-release technology with potential application for a broad range of pharmaceutical compounds.
While Ranbaxy will utilize its expertise in clinical development and scale-up, as well as its manufacturing and international marketing capability, Vectura will be contributing its proprietary intellectual property and innovative drug delivery solutions in the area of controlled release systems to the collaboration. The costs of the initial feasibility program will be shared equally by the parties, with Vectura earning royalties on any products developed and commercialized by Ranbaxy utilizing the new technology.The technology has the potential to release a once daily dose of drug throughout the whole gastrointestinal tract and is being developed with an aim of providing unique release modulation suitable for both low and high dose drugs. Oral controlled release medicines developed using this new technology provide the potential to improve patient compliance through enhanced convenience, reduced dosing and minimized incidence of side effects.
Currently available oral controlled-release systems tend to be premium-priced compared to immediate-release formulations, often because of the need to use either relatively expensive inert processing materials or more complex manufacturing methods. The new drug delivery technology utilises cost efficient materials and processes and will further help in reducing the overall cost of therapy for chronic diseases. The market for oral controlled-release systems has been recently valued at over US$14 billion.
Commenting on the collaboration, Mr. D.S.Brar, CEO & Managing Director, Ranbaxy Laboratories Limited, said, " Our global licensing and business development initiative has been focussing on exploring licensing opportunities, with a view to strengthening Ranbaxy's presence in its key markets through an expanded product basket and innovative value added dosage forms. Our arrangement with Vectura will fortify our presence in this segment and pave the way for future collaborations".
Mr. Peter Virley, CEO of Vectura said: "This collaboration with Ranbaxy offers us an exciting opportunity to extend our existing strong franchise in pulmonary drug delivery by a move into the largest single sector of the fast-growing drug delivery market- oral controlled-release systems. We believe that Vectura is in a strong position to address the market need for cost effective drug delivery systems with extended patent life."
Notes
Ranbaxy Laboratories Limited, India's largest pharmaceutical company, manufactures and markets branded generic pharmaceuticals, bulk substances and intermediates. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The company, which has an expanding international portfolio of affiliates, joint ventures and alliances, has business operations in over 24 countries and manufacturing operations in 6 countries.
Vectura is a fast-growing drug delivery company specialising in the application of its core expertise in particle science to the development of unique technology platforms and enhanced-performance products of high commercial value. The company already has an established reputation as a leading European provider of innovative inhaler formulations for pulmonary delivery.
The company's Research and Development team is developing a range of unique, patent-protected drug delivery technology platforms, both in the pulmonary and other market sectors. These technology platforms will be designed to deliver drugs in a more cost-effective manner, thus enabling better life-cycle management opportunities for pharmaceutical companies as well as better treatment outcomes and greater satisfaction for patients."Vectura has targeted specific product development opportunities in areas of high market potential where the company can create a clear competitive edge from its technology and know-how in pulmonary delivery. These include opportunities in the treatment of chronic obstructive pulmonary disease, in pain management and in the systemic delivery of inhaled macromolecules, such as insulin.
Vectura employs over 100 people at its Chippenham site and at the Cambridge Science Park. Its major shareholders are Friends Ivory and Sime funds, Merlin funds, the University of Bath and its management.
For further information please contact:For further information please contact:
Vectura Limited
Peter Virley
Tel: +44 (0)1249 667700
Fax: +44 (0)1249 667701
Email: enquiries@vectura.com
For Ranbaxy
Paresh Chaudhry
Tel: +44 (0)1191 6002075
Fax: +44 (0)1191 6002074
Email: pareshc@ranbaxy.co.in
Financial Dynamics
David Yates / Lucy Briggs
Tel: + 44 (0) 207 269 7242
