25 Jun 2010 07:00
THERAKIND SALE OF INTEREST IN PRODUCT
IPSO Ventures plc ("IPSO"), the creator of commercial value from technology, is pleased to report that its portfolio company, Therakind Limited ("Therakind"), has sold its interest in midazolam hydrochloride oromucosal solution, a buccal product which has been designed for the rapid treatment of children suffering from acute epileptic seizures.
Therakind will receive a significant initial upfront payment and a further milestone payment on the granting of marketing approval for the product. Therakind will also receive royalties on sales of the product in the EU.
Nick Rodgers, CEO of IPSO, said: "We are delighted to be working with a company that has such expertise in marketing across Europe which compliments Therakind's core skills in clinical and regulatory development. The transaction validates Therakind's regulatory and development expertise in the niche paediatric setting."
Therakind is continuing to expand its product portfolio. It is currently co-developing a number of other products in the paediatric setting.
Further information, please contact:
| IPSO Ventures plc: Simon Hunt, Chairman Nick Rodgers, Chief Executive
| Tel: 020 7921 2990 simon@ipsoventures.com nick@ipsoventures.com |
| Website details:
| www.ipsoventures.com www.therakind.com
|
| Ambrian Partners Limited Samantha Harrison
| Tel: 020 7634 4700 samantha.harrison@ambrian.com
|
| Rawlings Financial PR Limited Catriona Valentine
| Tel: 01653 618 016 catriona@rawlingsfinancial.co.uk |
NOTES TO EDITORS
IPSO:
IPSO creates commercial value from technology and its business model is entirely demand driven. It works closely with its industrial collaborators to identify the demand for new, innovative technologies and then, through its strong relationships with research institutions, sources technologies which could meet those needs. Much of this technology requires considerable further work by IPSO before it can be sold to industry as a developed product. IPSO creates businesses and provides expertise, strategic direction, human and seed capital, as well as corporate finance advice.
For industrial collaborators, IPSO provides a mechanism to identify and develop technologies which could be of significant value to their businesses, and removes the risk to them of acquiring raw, unproven and undeveloped technology.
For research institutions, IPSO provides greater certainty that their technology will find commercial success.
THERAKIND LIMITED
Therakind is a paediatric healthcare company with strong drug formulation, clinical development and regulatory capabilities. Focusing on paediatric medicine, the company has the expertise to develop a product from idea through to regulatory approval. The company identifies niche areas of unmet medical needs and works with other drug development companies on a collaborative basis.
Therakind was created in 2006 in collaboration between Intellectual Property ("IP") commercialiser, IPSO Ventures, and the School of Pharmacy, London University to address the significant unmet need for paediatric drugs.
Therakind's dedicated team brings a wealth of experience in:
·; paediatric drug evaluation, formulation, and drug delivery;
·; clinical and regulatory strategy;
·; clinical study design, management, analysis, and reporting;
·; interacting with Health Authorities and obtaining scientific advice; and
·; securing approvals for Paediatric Investigation Plans ("PIPs"), clinical trial and marketing authorisations.
In addition, Therakind has a network of highly competent and professional paediatric specialists in the UK and Europe with considerable experience of treating children.
Why paediatrics?
The paediatric drug market has, in the past, been largely ignored by pharmaceutical companies since their products have been routinely used "off label" by clinicians treating children. Estimates vary, but the paediatric drug market would appear to represent between 15% and 25% of the overall drug market. EU and US regulators have sought to address the lack of licensed paediatric medicines through legislation which, in the EU, is both a "carrot" and "stick" offering added market protection for drugs, but with the threat of delays to adult approvals if there is no paediatric plan.