Oxford Pharmascience, the specialty pharmaceutical company that uses advanced pharmaceutic technologies to reposition medicines, today announces it has signed a Heads of Terms agreement with HERMES PHARMA to license and develop a range of products using the Company’s OXP zero™ ibuprofen technology. Hermes Pharma is the expert in developing and manufacturing user-friendly solid oral dosage forms and a division of Hermes Arzneimittel GmbH, Europe’s largest manufacturer of pharmaceutical effervescent products.
Under the terms of the agreement, Hermes Pharma is being granted an exclusive option to develop a range of orally disintegrating (‘direct to mouth’) granules using the technology. Once successfully developed, Hermes Pharma will be granted a ten year license to sell these products to its existing and new healthcare customers. According to the agreement products will need to be licensed before the end of 2013 with royalties beginning before the end of 2014.
Additionally, Hermes Pharma has been granted an option to explore the development of a range of ibuprofen suspension products in sachets based on the OXP zero™ technology, which would fall under the same terms as the granules license.
Building upon over 40 years of expertise in developing and manufacturing user-friendly dosage forms, Hermes Pharma will leverage the OXP zero™ technology to accelerate the introduction of a new range of ibuprofen products. Ibuprofen is a highly effective, widely accepted pain reliever and a perfect extension of the company’s existing analgesics portfolio.
Nigel Theobald, Chief Executive, Oxford Pharmascience Group Plc, commented: “Working with Hermes Pharma is a fantastic boost for us. It will speed up the development and launch of products containing our OXP zero™ technology and by utilising Hermes Pharma’s extensive business development and sales expertise this will introduce our technology to its own customer base. This is clear demonstration of the commercial appeal of OXP zero™ and will help accelerate to market finished products using the taste masking technology. We are confident this will be the first of many exciting arrangements for the use of our taste masking technology platform.”
Dr. Thomas Hein, Head of Business Development & Sales at Hermes Pharma commented: “At Hermes Pharma we believe in dosage forms that are convenient and easy to take - such as orally disintegrating granules. In comparison to conventional tablets, ingredients already dissolve within the mouth when being ingested. Hence, good taste is key for compliance”. As Ibuprofen provides a strong, bitter taste which is difficult to neutralize we are delighted to collaborate with Oxford Pharmascience. The partnership will give us access to a cutting edge taste masking technology enabling us to develop ibuprofen products that are effective, stable and truly user-friendly”.
About Oxford Pharmascience Group
Oxford Pharmascience Group Plc develops advanced yet practical pharmaceutical technologies to enable reformulation that adds value to off patent and soon to be off patent drugs. The Company does not manufacture or sell its own pharmaceutical products but instead seeks to license its technologies to a network of partners, mainly leading pharmaceutical companies with Rx (prescription) and OTC (Over the Counter) branded portfolios. These partners use our technologies to reposition their products helping them sustain market share and profitability by delivering improved health outcomes and/or clinical profiles via reformulated versions of the same API (active pharmaceutical ingredient).
Oxford Pharmascience Group Plc develops platform technologies that have application across multiple drug categories and can be leveraged across a broad range of reformulation problems. This business model allows us to provide solutions across the industry and fund the ongoing development of cutting edge technologies to better serve the needs of our partners. The partner companies who adopt our technology pay an up-front license fee followed by development milestone payments and then royalties on finished products sold using the technology. OXP invests the upfront licence fee to optimise product development and to ensure seamless technology transfer to the pharmaceutical partner.
About HERMES PHARMA
Hermes Pharma is the expert in the development and production of user-friendly solid oral dosage forms, including effervescent and chewable tablets, instant drinks and orally disintegrating granules. The company offers customized solutions at every point along the pharmaceutical value chain – from the development of new product concepts and formulations to manufacturing and regulatory support. For more than 40 years, leading healthcare companies around the globe have been working with Hermes Pharma to expand their product lines and grow their brands.
Hermes Pharma is a division of Hermes Arzneimittel GmbH, a leading German provider of high quality medicines, food and dietary supplements marketed under its proprietary, well-established brands. The company generates an annual turnover of €155m and has more than 700 employees. Further information is available on www.hermes-pharma.comBack