DGAP-News: Merrion Pharmaceuticals Plc Signs Feasibility and Option Agreement for 3 Drugs With International 'Top Ten' Pharmaceutical Company
ID: 309491
06.12.2010 08:00
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DUBLIN, Ireland, Dec. 6, 2010 (GLOBE NEWSWIRE) -- Merrion Pharmaceuticals Plc,
a publicly listed product development company, today announced the commencement
of an oral drug delivery Feasibility and Option agreement with one of the
world's top ten biggest pharmaceutical companies. The agreement will evaluate
the ability of Merrion's patented GIPET(r) technology to boost the bioavailablity
of three of the 'big pharma' company's compounds. The three compounds have a
range of molecular weights. Following the feasibility studies, the company will
have the option to enter into a licensing agreement for Merrion's GIPET
technology. Merrion's GIPET technology is a platform technology with broad
applicability which covers a wide range of compounds with varying
physiochemical properties and molecular weights.
Commenting on the announcement, John Lynch, CEO, Merrion Pharmaceuticals said,
'We are very pleased to be entering into this agreement with one of the world's
leading pharmaceutical companies to assess the ability of our unique GIPET
technology to substantially improve the product profile of three of their
compounds. This agreement is further validation of the broad applicability of
our GIPET technology and the high level of interest in using the power of GIPET
in the pharmaceutical industry.'
Merrion's patented drug delivery technology, GIPET(r), is supported by a large
database reflecting 10 years research and development by drug delivery experts
and 21 clinical studies conducted on a broad range of drug types. In a database
comprising more than 40 compounds, GIPET has shown the ability to improve
absorption by as much as 200 times, achieving excellent intersubject
reproducibility and with a positive safety database. This includes traditional
small molecules as well as biopharmaceutical peptides and proteins, making
GIPET a platform technology with broad applicability. Merrion's technology is
endorsed through collaborations with pharmaceutical companies such as Novo
Nordisk (oral insulin, oral GLP-1), Ferring Pharmaceuticals and others.
About Merrion:
Merrion Pharmaceuticals is a publicly listed product development company
focused on delivering innovation to the market by:
- designing our own patented products and
- partnering with other pharmaceutical companies to develop patented products.
Established in 2003, Merrion are engaged in the development of oral forms
(tablets/capsules) of drugs that have poor absorption and are generally given
by injection. Merrion Pharmaceuticals' patented drug delivery technologies
(GIPET(r)) hugely increase bioavailability, by improving absorption in the
gastrointestinal tract, of drugs that are otherwise poorly absorbed. As well as
increasing absorption, Merrion's technologies also increase the consistency of
absorption.
These new products can provide substantial benefits in enhanced drug efficacy,
improved safety, toxicity and side effect profile, health economics, patient
experience and quality of life.
Merrion has agreements with several pharmaceutical companies. Merrion has two
license agreements with Novo Nordisk A/S to develop and commercialise oral
Insulin and oral GLP-1 using Merrion's GIPET technology. Merrion alsohas an
oral drug delivery research collaborative program with Ferring Pharmaceuticals,
a Swiss based international pharmaceutical company. There are other,
unannounced collaborations.
Merrion Pharmaceuticals is based in Dublin, in a state of the art, purpose
built cGMP facility which allows rapid development and reduced risk in taking
product ideas from conception to final product formulation. Merrion also has
operations in Wilmington, North Carolina.
Merrion is listed on the Irish Stock Exchange (ESM) under the symbol MERR.
www.merrionpharma.com
CONTACT: Merrion Pharmaceuticals
Jonathan O'Connell
+ 353 (0) 1 6423300
info@merrionpharma.com
www.merrionpharma.com
Goodbody Stockbrokers
Diane Hodgson
Linda Hickey
+ 353 (0) 1 6670400
Brunswick Group
Jon Coles
Will Carnwath
+ 44 207 404 5959
merrion@brunswickgroup.com
News Source: NASDAQ OMX
06.12.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Merrion Pharmaceuticals plc
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901027097
WKN:
End of Announcement DGAP News-Service
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Datum: 06.12.2010 - 08:00 Uhr
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News-ID 309491
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