Critical Pharmaceuticals has teamed up with the University of Nottingham to develop a nano-enabled intranasal formulation of teriparatide, intended for the treatment of osteoporosis.
The alliance will develop a nasal spray formulation that is easy to be administered and will provide optimal drug plasma levels to improve efficacy.
The company's CriticalSorb™ nanotechnology facilitates the nasal delivery of biological and challenging small molecule drugs that will be preferred by patients.
Critical Pharmaceuticals CEO Gareth King said: "We are excited about working with internationally-recognised clinicians and scientists at The University of Nottingham and Nottingham University Hospitals NHS Trust to rapidly develop this highly innovative formulation of teriparatide and look forward to the day we can offer it as an attractive alternative to daily injection for the many older people living with osteoporosis."
Dr Richard Pearson, senior research fellow in The University of Nottingham's Faculty of Medicine and Health Sciences, said: "I'm delighted to collaborate on this project that will enable us to further develop the world-leading research and development capability at the University of Nottingham for the evaluation of drugs for osteoporosis and to work closely with Critical Pharmaceuticals scientists on the development of an exciting new therapy for this debilitating disease."
Currently in Phase 1 clinical development, the company's lead product, a nasal formulation of human growth hormone (CP024), uses CriticalSorb nanotechnology.
UK-based Critical Pharmaceuticals has developed a pipeline of unique biological drug products, utilising its proprietary drug delivery technologies.
The research grant of £545,000 has been awarded by the Technology Strategy Board and the Engineering and Physical Sciences Research Council (EPSRC), as part of their investment in nanoscale technology-enabled solutions in healthcare.
Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board integrates business, research and the public sector, supporting and accelerating the development of innovative products and services to meet the market needs.
Every year more than 180,000 patients are affected by osteoporosis in UK, costing the NHS around £2bn.