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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Phoqus | LSE:PQS | London | Ordinary Share | GB00B0M4CD64 | ORD 10P |
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- | O | 0 | 8.00 | GBX |
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Posted at 07/12/2005 10:07 by chay01 Enquiries:Phoqus Group plc Tel: 01732 870227 Andy Jones, Chief Executive Officer Peter Johnson, Chief Financial Officer Financial Dynamics Tel: 020 7831 3113 Sarah MacLeod / John Gilbert Notes to editors About Phoqus Phoqus is a drug delivery company using proprietary electrostatic powder coating technology, LeQtracoat®, to provide an extensive range of innovative systems targeting the oral drug delivery market. Phoqus has five collaboration agreements, three of which are with leading pharmaceutical companies. Phoqus is the only company using electrostatic powder coating technology for pharmaceutical applications and has over 120 granted patents. The Company's products target the established and growing oral drug delivery sector, which is valued at over $31 billion, and address the major oral sectors including modified release, fast dissolve, low dose and combination drugs. Drug delivery technologies are applied to pharmaceuticals to provide benefits such as controlling the release of a drug into the body, enhancing patient compliance and improving the performance and efficacy of an existing drug. In turn, these benefits enable pharmaceutical companies to extend the life cycles of their products, strengthen their patent protection and thereby enhance the value of their marketed products and development pipelines. In addition, the Company has developed its coating technology to create novel images on drug tablets as a means of brand enhancement and protection against counterfeiting. Phoqus has also been successful in developing additional applications for the LeQtracoat® technology in pharmaceutical capsules, medical devices and detergent tablets, and is in discussions regarding potential collaborations with several leading companies in these areas. To assist the delivery of its strategy, Phoqus has entered into a strategic partnership with Cardinal Health, the world's largest supplier of services to the healthcare industry, to provide commercial scale GMP manufacturing to collaboration partners. Cardinal Health also co-markets Phoqus' drug delivery and image enhancement systems in all major markets. Phoqus, based in Kent, was established in 1998 as a spin-out from Colorcon, a division of Berwind Pharmaceutical Services Inc. The Company was admitted to trading on AIM in November 2005 raising £10m and is listed on AIM under the symbol "PQS". Further background on the Company can be found at www.phoqus.com. About Biofusion Biofusion was established in 2002 to commercialise university-generated IP. In February 2005 Biofusion listed on Aim and raised £8.2m for the commercialisation of IP owned by the University of Sheffield in the area of medical life sciences. It has agreed a ten-year exclusive arrangement with the University which also gives Biofusion shareholdings in an existing portfolio of eight spin-out companies. The University of Sheffield is a world class life sciences research centre, spending £30m in 2002/3 on research in medical life sciences. This spending level is expected to grow year on year giving an estimated £0.5bn of research funding over the next ten years. The University, which celebrates its centenary this year, can count five Nobel Prize winners among its alumni and researchers, and data from the latest UK Government's Research Assessment Exercise 2001 ("RAE 2001") showed it ranked fifth in the UK for the quality of its life sciences research. Biofusion is listed on AIM under the symbol "BFN". Further background on the Company can be found at www.biofusion.com. About Diurnal Diurnal is a spin-out from the University of Sheffield, and is a Biofusion plc portfolio company in which Biofusion now has a fully diluted shareholding of 60%. Biofusion plc was established in 2002 to commercialise university-generated IP. In February 2005 Biofusion plc listed on AIM and raised £8.2m for the commercialisation of IP owned by the University of Sheffield in the area of medical life sciences. It has agreed a ten-year exclusive arrangement with the University which also gives Biofusion shareholdings in an existing portfolio of eight spin-out companies. Founded in 2004, Diurnal seeks to develop means for the controlled and sustained release of steroids and intends its first product to be based on the delivery of hydrocortisone, in a manner which mimics the circadian rhythm. This marked rhythm, with high levels in the morning and low levels at night, is lost in patients with adrenal insufficiency. The Diurnal management believe that their product will offer a potential much needed improvement in steroid treatment for patients with congenital adrenal hyperplasia, a form of adrenal insufficiency. Diurnal also intends to explore additional opportunities for new indications in areas in which cortisol levels may be implicated in other diseases (such as inflammatory conditions). |
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