Inhalable drug delivery platform draws funding

27 May 2009

Nanomed Pty Ltd has secured commitment for up to $750k to advance the development and commercialisation of its inhalable pharmaceuticals technology based on the proprietary Atomised Rapid Injection for Solvent Extraction (ARISE) technology.

Nanomed is a spin-out company of the University of New South Wales.
The new funding comes from Uniseed, a $61 million commercialisation fund operating at the University of Queensland, New South Wales and Melbourne.

ARISE technology converts oral and intravenous drugs into an inhalable form allowing them to be absorbed quickly and directly into the body via the lungs. It relies on super critical fluid solvent extraction, which produces nano-sized particles with aerodynamic properties so medications can be breathed deeply into the respiratory system.

The technology has potential applications for asthma and other chronic respiratory diseases such as pneumonia, influenza, cystic fibrosis and Chronic Obstructive Pulmonary Disease (COPD) where pulmonary inhalation provides site specific delivery as the primary means of treatment. The global market for chronic respiratory diseases is estimated to be US $10billion and is an emerging high priority area for the development for inhalation based products.

“This technology allows us to shrink the particle size of existing drugs and make them better suited for pulmonary delivery,” says Nanomed’s founder, UNSW Professor Neil Foster. “Respiratory tract diseases could significantly benefit by having drugs delivered directly to the site of action and this is where we think our technology can be applied,” he adds.

Uniseed’s CEO, Dr Peter Devine, is also enthusiastic about Nanomed’s potential. “This is a novel technology with significant market potential in an emerging high priority area for the development of inhalation based products,” he says. “The value of inhaled medications is increasing and the application of the ARISE technology could provide a competitive advantage to other products in development”.

ARISE technology was developed by Professor Neil Foster and the Super Critical Fluids Research Group at the University of New South Wales.
Nanomed has had support from AusIndustry through a COMET grant, which helped in the early-stages of business planning and industry engagement. The investment will fund business development activities around the drug delivery technology developed by the Company.

NewSouth Innovations (NSi), the commercialisation arm of UNSW, formed Nanomed to manufacture materials and devices for the healthcare sector using the patented Atomised Rapid Injection for Solvent Extraction
(ARISE) technology. Jim Henderson, General Manager of Commercialisation at NSi said: “NSi is very pleased with Uniseed’s commitment to Nanomed. We have strongly supported commercialisation of the novel ARISE technology and this funding positions Nanomed to vigorously pursue a growing and lucrative target market.”


Media enquiries
Dr David Rowe, Investment Manager, Uniseed: mobile: 0419 226 417 Dan Gaffney, NewSouth Innovations: mobile: 0411 156 015

About Uniseed: Uniseed is a $61 million commercialisation fund operating at the University of Queensland, New South Wales and Melbourne. Apart from these three universities, Western Australia’s largest non-governmental superannuation fund, Westscheme, is also a member. Uniseed has made over 30 investments in technologies arising from its partner universities, including Vintela (AVCAL Best Early Stage Deal 2005) and QRx-Pharma (largest biotech IPO in ASX history).
www.uniseed.com

About NSi: NewSouth Innovations Pty Limited is a recognised leader in bringing new inventions and technologies to market. NSi’s main services include assessing the commercial potential of intellectual property developed at UNSW, filing and prosecuting patents, entering intellectual property licensing agreements with industry, and forming spin-off companies to raise venture capital for product development.
http://www.nsinnovations.com.au/