Nanexa Signs Continuation of Feasibility Agreement With Major Pharmaceutical Company to Investigate PharmaShell Long-Acting Formulations in a Multi-Billion US Market
Nanexa has recently announced the signing of an extension of a feasibility agreement with a major pharmaceutical company to investigate the use of Nanexa´s proprietary PharmaShell platform for a specific drug with current yearly sales exceeding $1 billion.
Although neither the company nor the indication can be named, Nanexa is able to state that the condition being investigated is chronic. The goal is to use PharmaShell to transform the company’s current drug, into one that is dosed less frequently.
Speaking on the news, David Westberg, the company’s Chief Executive Officer, said “This is further affirmation that major pharmaceutical companies appreciate the value of PharmaShell and what Nanexa is doing to transform quick-release, regularly dosed drugs into long-acting, more manageable therapeutics. Patients globally are often responsible for self-administering regular doses or visiting clinics for injections given by healthcare professionals. This approach frequently results in poor treatment adherence, leading to suboptimal patient outcomes and increased overall costs.”
Nanexa is bringing the control, precision, and versatility of Atomic Layer Deposition (ALD) technology to drug formulation. The company’s proprietary PharmaShell platform is a unique drug delivery system that enables a high drug load, thus low injection volume, creating a new generation of ‘super generic’ formulations that will provide greater convenience and reduce costs in the treatment of conditions such as metabolic diseases like type 2 diabetes and obesity, haematology/oncology, cardiovascular disorders, psychiatry, and many others.
Nanexa develops its own products and also has collaboration agreements with several pharma companies, among others Novo Nordisk and AstraZeneca. Nanexa’s share is listed on Nasdaq First North Growth Market in Stockholm (NANEXA).
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