NAL Norwoodabb Fpo

Norwood Abbey Ltd (ASX:NAL): Key points: -- Needle-free delivery - objective of the global pharmaceutical industry -- Norwood needle-free prototype developed at MIT -- Commercial phase licence with MIT in place -- Multiple approaches to Norwood/MIT from pharmaceutical groups -- Commercial discussions underway -- Norwood device specifications address market needs Norwood Abbey Ltd (ASX:NAL) states that the compelling drivers for a needle-free drug delivery system are the provision of an efficacious means of delivering compounds to humans and animals in a safe and cost-effective manner. Avoiding cross-contamination through needlestick injury has long been a significant health concern with the current syringe method of delivery. Needle-free drug delivery has been a key objective of the global pharmaceutical industry for over a decade. Many variant designs and delivery mechanisms have been researched by numerous companies with mixed results. No one has brought to market a needle-free device that is effective across the broad range of delivery applications for which the industry seeks solutions. Norwood Abbey Ltd has, through its research agreement with the Massachusetts Institute of Technology (MIT) - BioInstrumentation Laboratory, spent the past three years perfecting a unique method of needle-free drug delivery. Following an extensive research program, Norwood has now entered into a commercial phase licence with MIT under which Norwood has the exclusive global rights to exploit the intellectual property and know-how held by MIT in the field. Norwood is now progressing its previously announced strategy of partnering/licensing the needle-free technology with major pharmaceutical groups. The proposed partnering/licensing model envisages the offering of exclusive licences for specific applications. Thus, one pharmaceutical company might licence the rights in relation to a particular arthritis drug, another for an anti-inflammatory drug and another for an influenza vaccine. Norwood seeks to develop a portfolio of licensing arrangements where each licensee has a unique offering linking its drug to the Norwood delivery system. Norwood is now in a strong position to create a portfolio of licensing arrangements with major pharmaceutical groups. Norwood has now commenced commercial discussions with a number of pharmaceutical groups who have approached Norwood (both directly and through MIT). The Norwood prototype device has been designed to meet the specifications nominated by selected pharmaceutical groups and to address key issues that have limited the commercial development of other companies' devices. Important features of the Norwood device are: -- Re-usable hand-held device with powerful (patented) delivery mechanism -- Concept of a single-use disposable drug cartridge -- Safe and efficacious delivery method -- Near silent operation -- Low per procedure cost -- Control of 'force' enabling delivery to controlled depth -- Ability to deliver a wide range of drugs or biologicals -- Optimum size expected to approximate small hand-held drill -- Both human and veterinary models To find out more about the company, visit www.norwoodabbey.com