Navigation Links
Glide Pharma Completes £14.0 Million ($21.4 Million) Fundraising for Scale Up of Drug and Device Manufacturing Processes and Product Development
Date:2/26/2013

OXFORD, England, February 26, 2013 /PRNewswire/ --

Glide Pharma, the pharmaceutical development and device company focused on the needle-free administration of solid dose formulations, today announced that it has completed a £14.0 million ($21.4 million) investment round.  The fundraising was led by funds managed by Invesco Perpetual and supported by existing investors.  To date, Glide Pharma has successfully completed five funding rounds raising approximately £24.9 million.

Glide Pharma will use the funds to scale up the manufacturing process for its proprietary Glide SDI® solid dose injector system, including both the drug product and device. This includes the validation of an aseptic pilot-scale production line for clinical testing, and scale up for the manufacture of Glide SDI® device components.  The funds will also progress the development of the company's in-house programmes, which include epinephrine and parathyroid hormone.

"I am delighted to welcome Invesco Perpetual to Glide Pharma as an important new investor in this transformational fundraising.  This substantial investment round clearly demonstrates the confidence our shareholders have in our innovative technology, and its potential to revolutionise the delivery of therapeutics and vaccines," said Mark Kirby , Glide Pharma's Chairman.  "This fundraising follows recognition of Glide's novel technology by the UK government-backed Biomedical Catalyst scheme, which awarded the company £2.3 million funding for the development of a novel formulation of teriparatide (parathyroid hormone) for the treatment of osteoporosis."

The UK Biomedical Catalyst, which was announced by Prime Minister David Cameron in December 2011, is managed jointly by the Medical Research Council and the Technology Strategy Board.

About the Glide SDI® solid dose injector

The Glide SDI® is an innovative needle-free delivery system. The reusable injector uses a spring mechanism to administer a tiny solid dosage below the patient's skin, where it dissolves and releases the pharmaceutical. Glide's solid dose formulations eliminate the risk of needle-stick injuries and avoid time-consuming reconstitution. They also have the potential to modify the release of medicines and to improve stability, removing the need for refrigeration. The one-click action, pen-sized device is extremely easy to use, with medicines supplied in pre-filled disposable cassettes, making it ideal for self administration. In clinical testing, volunteers strongly preferred the Glide SDI® to traditional needle and syringe.

About Glide Pharma

Glide Pharma is a pharmaceutical development and device company focused on the easy, safe and convenient administration of solid dose formulations of therapeutics and vaccines. The company has a range of in-house and partnered programmes based on its proprietary solid dose injector, the Glide SDI®. Glide Pharma has a strong management team with extensive experience of the pharmaceutical, biotechnology and medical device sectors. The company has successfully completed five investment rounds, and is supported by a consortium of institutional and private technology investors, including Invesco Perpetual, Oxford Technology Venture Capital Trusts, Oxford Capital Partners and Hygea VCT.

Contacts

Ian Smith
Chief Executive
Glide Pharma
Tel: +44-(0)8700-853-700

Rob Budge
RJB Communications
Tel: +44-(0)1865-760-969
Mobile: +44-(0)7710-741-241


'/>"/>
SOURCE Glide Pharma
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Verathon, maker of GlideScope video laryngoscopes, provides free educational DVD to promote best practices in pediatric airway management.
2. TriReme Medical, Inc. Receives FDA Approval for Glider™ PTCA Catheter
3. CPhI in Partnership With PMI India Announces Pharma Project Management Conference
4. UBM Launches PharmaEvolution.com, an Online Peer-to-Peer Network for Pharmaceutical Industry Professionals
5. Alexza Pharmaceuticals Corporate Presentation to Be Webcast at Three Upcoming Investor Conferences
6. Arena Pharmaceuticals to Host Corporate Update and Financial Results Conference Call and Webcast on Monday, March 4
7. ShangPharma Corporation Announces Extraordinary General Meeting of Shareholders
8. DelMar Pharmaceuticals Announces $1.6 Million Closing in Private Placement
9. Simcere Pharmaceutical Group to Announce Fourth Quarter and Fiscal Year 2012 Financial Results on Thursday, March 7, 2013
10. Royalty Pharma Announces Proposal To Acquire Elan
11. Reckitt Benckiser Pharmaceuticals Inc. Receives FDA Response to Citizens Petition
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/18/2017)... Research and Markets has announced the addition ... their offering. ... devices market to grow at a CAGR of 6.35% during the ... 2017-2021, has been prepared based on an in-depth market analysis with ... its growth prospects over the coming years. The report also includes ...
(Date:4/18/2017)... and BLOOMINGTON, Minn. , April ... IMMY ) ("Imprimis"), an ophthalmology-focused pharmaceutical company, ... Lens"), today announced the signing of a three-year ... Lens will deploy a dedicated sales team to ... the U.S., primarily focused in 13 states in ...
(Date:4/18/2017)... 2017 Research and Markets has announced ... Molecular Imaging Equipment and Radiopharmaceuticals Market, Forecast to 2023" ... ... revenues as well as growth in the number of unit ... to market participants that design and manufacture molecular imaging equipment. ...
Breaking Medicine Technology:
(Date:4/25/2017)... ... April 25, 2017 , ... Vetoquinol USA® ... introducing Flexadin UCII, part of the EQUISTRO line, at this week’s Rolex Kentucky ... horses at the immunologic level. , The scientifically-developed Flexadin UCII supports the body’s ...
(Date:4/24/2017)... ... April 24, 2017 , ... Michael Vick announced his retirement earlier ... position. The former overall number one pick in the 2001 NFL Draft, to the ... the record for the most career rushing yards by a quarterback (6,109) and the ...
(Date:4/24/2017)... ... April 24, 2017 , ... NEPC Director Kevin ... of Education Research Award. The award honors scholars exemplary in their capacity to ... scholar who has demonstrated the capacity to deepen the public’s understanding and appreciation ...
(Date:4/24/2017)... Seattle, Washington (PRWEB) , ... April 24, 2017 , ... ... T-Fal OptiGrill, Oxiclean, Space Bag, Sonicare Toothbrush, Juiceman Juicer, and the George Foreman Grill ... than perhaps any other marketer in the last 25 years. , Now, due to ...
(Date:4/24/2017)... (PRWEB) , ... April 24, 2017 , ... ... that they are seeking public support to bring their novel lifesaving device for ... wearable device packed with medical-grade sensors, specially designed to read a child’s vital ...
Breaking Medicine News(10 mins):