Consort Medical PLC Announcement of master development agreement (5172M)
October 14 2016 - 2:00AM
UK Regulatory
TIDMCSRT
RNS Number : 5172M
Consort Medical PLC
14 October 2016
Consort Medical plc
14 October 2016
Consort Medical closes Syrina(TM) Auto-Injector Master
Development Agreement
Consort Medical plc ("Consort Medical", "Consort") (LSE: CSRT),
is pleased to announce that Bespak has entered into a master
development agreement including key commercial supply terms with a
leading global biopharmaceutical company ("Company"). The agreement
is focused on Bespak's novel Vapoursoft(TM) driven auto-injector
technology, Syrina(TM).
Under the agreement, Bespak will develop a Syrina(TM) embodiment
of a single product through to commercialisation. The framework of
the agreement also allows for inclusion of additional development
programmes for other products. In the event that the Company elects
to commercialise the developed device, the agreement provides that
the parties will enter into a full commercial supply agreement.
Syrina(TM) is one of a range of novel technologies developed at
Bespak's Cambridge, UK based Innovation Centre. Through the use of
a liquid gas propellant, rather than a spring to drive the delivery
of the drug, Syrina(TM) facilitates delivery of a broader range of
drug formulations and volumes, whilst also reducing or eliminating
potential for glass syringe breakage.
Jon Glenn, Chief Executive Officer of Consort Medical,
commented:
"We are delighted to initiate this collaboration for the
development of a Syrina(TM) auto-injector product. This reinforces
Bespak's position as a leading provider of drug delivery device
solutions. We believe that Syrina(TM) and Vapoursoft(TM) offer
significant opportunities for pharmaceutical and biopharmaceutical
companies to develop patient-centric presentations of their
drugs."
ENDS
Enquiries:
Consort Medical Tel: +44 1442 867920
Jonathan Glenn - Chief Executive
Officer
Richard Cotton - Chief Financial
Officer
FTI Consulting Tel: +44 20 3727 1000
Ben Atwell / Simon Conway
Note:
1 Market Abuse Regulations (MAR)
This announcement contains inside information.
Consort Medical plc is a leading, global, single source drug and
delivery device company (CDMO). We are at the leading edge of
innovation and we are committed to investing in patient, clinician
and customer driven innovation to create new treatments, new
markets and new opportunities.
Our businesses
Bespak is a global market leader in the manufacture of drug
delivery devices for pharmaceutical partner companies, including
respiratory, nasal, and injectable products, and the manufacture of
devices for the point of care diagnostics market.
www.bespak.com.
Aesica is a leading provider of finished dose and active
pharmaceutical ingredient (API) development and manufacturing
services to pharmaceutical partners. www.aesica-pharma.com.
We employ more than 2000 people globally of which 1400 are
located in the UK. We have UK facilities in King's Lynn, Cambridge,
Nelson, Milton Keynes, Cramlington, Queenborough and Hemel
Hempstead, German facilities in Monheim and Zwickau and a facility
in Pianezza, Italy. Consort Medical is a public company quoted on
the premium list of the London Stock Exchange (LSE: CSRT).
www.consortmedical.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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