Pharmaxis Ltd welcomes the news that Aptar Pharma, which specialises in drug delivery systems, services and active material science solutions, has decided to acquire the worldwide rights to Pharmaxis’ proprietary inhaler Orbital, which delivers high payload dry powder to the lungs.
High-dose treatments to the lungs
Aptar Pharma’s decision was supported by the technology’s potential to administer high-dose treatments to the lungs in a safe and convenient way.
Under the initial agreement, Aptar had 12 months to evaluate the technology. It will now pay US$2.5 million to license the technology, and has exercised its subsequent right to purchase it outright for another US $2.5 million.
Pharmaxis retains the rights to devices containing the Orbital intellectual property used to deliver inhaled mannitol.
The Orbital technology allows powder payloads of up to 400 milligrams or more to be inhaled by patients in divided doses without the need to reload the device.
Increasing global need
The platform was originally designed to extend the life cycle of the Pharmaxis cystic fibrosis drug Bronchitol®(mannitol).
It has been found to have much wider application, though, and has the capacity to meet an increasing global need to deliver high doses of other drugs, such as antibiotics, to the lungs.
Pharmaxis CEO Gary Phillips said: “I am delighted that Aptar Pharma, who are one of the world’s foremost drug delivery companies, have seen the potential in the Orbital technology. We look forward to them building on the technical evaluations carried out during the option period and delivering new product solutions that can benefit drug developers and patients.
Non-dilutive cash strategy
“Today’s announcement is a further example of the capability of the Pharmaxis team and is part of our strategy to generate non-dilutive cash from the mannitol respiratory business.”
Aptar Pharma vice president Global Pulmonary Category Howard Burnett said: “With this acquisition, Aptar Pharma is pleased to be building on our current expertise for the treatment of chronic conditions. Being recognised as a global leader in respiratory drug delivery devices and associated services, we now have a wider offering to our customers.”
Pharmaxis is an established Australian clinical stage drug development company which develops drugs for inflammatory and fibrotic diseases. The company has a highly productive drug discovery engine, with drug candidates in clinical trials for myelofibrosis and skin scarring.