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™ driven auto-injector technology, Syrina™.
Under the agreement, Bespak will develop a Syrina™ 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™ 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™ 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™ auto-injector product. This reinforces Bespak’s position as a leading provider of drug delivery device solutions. We believe that Syrina™ and Vapoursoft™ offer significant opportunities for pharmaceutical and biopharmaceutical companies to develop patient-centric presentations of their drugs.”Editor's Details
Last updated on: 14/10/2016
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