Nanexa Signs Continuation of Feasibility Agreement with Major Pharmaceuticals Company to Investigate PharmaShell® Long-Acting Formulations in a Multi-Billion USD Market
The collaboration provides further proof that PharmaShell atomic layer deposition technology is of interest to major pharma companies. Nanexa is poised for further partnerships in the treatment of other chronic conditions.
Nanexa, the Swedish company developing a new generation of long-acting injectables enabled by atomic layer deposition technology, has today announced the signing of an extension of a feasibility agreement with a major pharmaceutical company to investigate the use of Nanexa´s proprietary PharmaShell platform for a specific drug with current yearly sales exceeding 1 billion USD.
Although neither the company nor the indication can be named, Nanexa is able to state that the condition being investigated is chronic. The goal is to use PharmaShell to transform the company’s current drug, into one that is dosed less frequently.
Speaking on the news, David Westberg, the company’s chief executive officer, says: “This is further affirmation that major pharmaceutical companies appreciate the value of PharmaShell and what Nanexa is doing to transform quick-release, regularly dosed drugs into long-acting, more manageable therapeutics.”
He adds, "Patients globally are often responsible for self-administering regular doses or visiting clinics for injections given by healthcare professionals. This approach frequently results in poor treatment adherence, leading to suboptimal patient outcomes and increased overall costs."