Nanotechnology Now - Press Release: "Financing from Swiss investors begins long-term nanoparticle drug development programme"

Home > Press > Financing from Swiss investors begins long-term nanoparticle drug development programme

Abstract:
Midatech Group, a world leader in nanotechnology, today announces the formation of a Basel-based Swiss drug development subsidiary, PharMida AG. Formation of this subsidiary follows an investment by a group of Switzerland-based private investors into Midatech Ltd. The mandate of PharMida is to develop a strong portfolio of clinically validated gold nanoparticle-drug combinations. Furthermore, PharMida will have the responsibility to project manage in-house drug development, commercial partnerships, and out-licensing opportunities in order to leverage the rich collection of the already existing and most promising Midatech Ltd products or product lines in Life Sciences. PharMida will be headed by Professor Fritz R. Buhler as Chairman, and Dr Jan Mous as CEO.

Financing from Swiss investors begins long-term nanoparticle drug development programme

Oxford, UK | Posted on November 17th, 2008

Professor Fritz Buhler, Chairman of PharMida, is Professor of Pharmaceutical Medicine and Pathophysiology as well as of Internal Medicine and Cardiology at the Faculty of Medicine, Universities of Basel. He has a wealth of experience in pharmaceutical development having held a number of senior positions in academia and industry, including Head of Worldwide Clinical R&D at F. Hoffman-La Roche, Director of the European Centre of Pharmaceutical Medicine and co-Founder of International Biomedicine Management Partners, Basel, and Health Innoventures, New York.

Dr Jan Mous, PharMidaís new CEO, has a strong background in research and development, and many yearsí experience at senior level in a number of biotech companies. Most recently Dr Mous was President and CEO of IntegraGen, and prior to that he held the position of CSO and was member of the Executive Board of LION bioscience. From 1985 to 2000, Dr Mous enjoyed a successful career at F. Hoffmann-La Roche in Basel.

Professor Thomas Rademacher, Founder and Chairman of Midatech Group, commented: "This is an extremely important step in the development of Midatech and its nanoparticle technology. It is a great privilege to be partnering with such a high calibre team, who between them bring an unrivalled level of expertise and experience in the pharmaceutical sector. I am looking forward to working with Professor Buhler and Dr Mous to develop Midatechís innovative nanoparticle technology to its full potential."

"I am delighted to be joining PharMida at its inception, and look forward with great anticipation to being a part of the journey that will see this subsidiary develop the potential of its exciting technology," commented Jan Mous, CEO.

"The nanoparticle technology to be developed by PharMida is very promising and I have no doubt will prove to be of great importance to the development better therapeutic applications for patients in need," added Professor Fritz R. Buhler, Chairman.

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About Midatech Group
Midatech Group Ltd, UK, is a world leader in the design, synthesis and manufacture of biocompatible nanoparticles. These nanoparticles can be used to create a wide variety of products with novel characteristics, functions and applications for a number of industry segments including life sciences, electronics and fine chemicals.

Founded in 2000, Midatech Ltd is a private company headquartered in Abingdon, Oxford, UK. In 2005 it registered its manufacturing facility ñ Midatech Biogune S.L. ñ in Bilbao, Spain, which became fully operational for cGMP standard design and manufacturing of API nanoparticles In March 2007. In 2008 Midatech Ltd further expanded with the opening of PharMida AG in Basel, Switzerland, which is responsible for developing Midatech's technology in the life sciences arena.

The Technology in life sciences - a paradigm shift in drug development and drug delivery

Midatechís biocompatible nanoparticles possess a number of unique properties that make them ideal for diagnostic and therapeutic applications.

The nanoparticles are water soluble and can be designed to either diffuse freely in vivo, or to target specific cells. With a diameter of less than 5nm, unbound nanoparticles are freely excreted from the kidneys, reducing the likelihood of non-specific in vivo accumulation. Their size enables drug delivery via different routes of administration, such as parental or intranasal. Their stability to enzymatic digestion may also permit oral therapy. Nanoparticles can be designed to be invisible to the host immune system with multiple ligands attached to a single nanoparticle allowing multivalent drug or multi-drug delivery on a single particle. In addition, as the nanoparticles self-assemble in a single step chemical process manufacturing is simple, safe, scaleable and low cost.

Midatech Ltd. has exclusive world-wide IP for the technology covering design, manufacture and application/use of nanoparticles in both diagnostic and therapeutic pharmaceutical areas as well as in other industries. It also has exclusive world-wide rights for technology relating to the synthesis and applications of self-assembling nanoparticles.

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