XSpray receives innovation grant for nanoparticle technology
(Thomson Reuters ONE) -
Stockholm, Sweden - December 06, 2010. XSpray Microparticles announced today
that it has received a grant of SEK 2.3 million from Vinnova, the Swedish Agency
for Innovation Systems. The grant will be used to expand the company's
RightSize(TM) nanoparticle technology for the development of innovative
pharmaceutical formulations.
XSpray was chosen from among more than 250 companies that had applied for
funding from Vinnova's 'Research&Grow' program. The program awarded grants to
42 companies - less than ten of which are from the life science sector - as part
of its second round of funding for 2010. XSpray's grant of SEK 2.3 million was
the fifth highest grant to be awarded during this round.
XSpray's RightSize Particle technology produces nanoparticles with a consistent
size below 200 nm. The proprietary technology provides complete control over
particle production, enhancing drug formulation options and optimizing the
performance of challenging drug substances, such as poorly soluble compounds.
XSpray's CEO, Per Andersson, said, "We are very excited about receiving this
grant from Vinnova. It will enable us to broaden the application of our
nanoparticle technology more quickly. It is also pleasing that the technology's
capabilities have been recognized in this way. There is a lot of competition for
these grants. The fact that Vinnova shares our belief in RightSize technology is
very encouraging."
For more information, contact:
Per Andersson, CEO, XSpray Microparticles AB
Tel: +46 (0)8 730 37 00
Email: per.andersson(at)xspray.com
About VINNOVA
VINNOVA is Sweden's innovation agency. Its aim is to increase the
competitiveness of Swedish researchers and companies. VINNOVA's task is to
promote sustainable growth in Sweden by funding needs-driven research and the
development of effective innovation systems. To this end, the agency has 220
million euro to invest in new and ongoing projects each year. www.vinnova.se/en/
About XSpray
XSpray Microparticles AB is a Swedish life science technology company with in-
depth knowledge of supercritical fluid technology, solid state properties,
formulation science and the drug development process. The Company's cutting-edge
platform technology - RightSize(TM) Particle manufacturing - uses supercritical
fluid as an antisolvent for controlled precipitation of an active pharmaceutical
ingredient/drug substance. The technology not only provides a superior process
to traditional methods but also delivers better quality pharmaceutical
particles, from discovery to production.
The process yields consistent powder particles in terms of size, shape and
morphology that simplify formulation and can be incorporated into a variety of
dosage forms, such as tablets, capsules and inhalation systems. RightSize
Particle technology addresses unmet therapeutic needs by enabling the
development of drugs with enhanced delivery options, such as faster onset of
action, and by adding innovative properties that truly benefit patients.
A key advantage of RightSize Particle technology is that it can be effectively
scaled up to production volumes, making it an important breakthrough in the
manufacture of pharmaceutical particles.
XSpray Microparticles has its headquarters and development laboratories in
Stockholm, Sweden, and offers GMP production at a state-of-the-art manufacturing
facility in Malmö, Sweden. Find out more at: www.xspray.com
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Source: XSpray Microparticles AB via Thomson Reuters ONE
[HUG#1469514]
Datum: 06.12.2010 - 17:30 Uhr
Sprache: Deutsch
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