Consort Medical PLC Consort Signs Development Agreement with Regeneron (2929Q)

TIDMCSRT

RNS Number : 2929Q

Consort Medical PLC

18 October 2019

Consort Medical plc

18 October 2019

Consort Medical Signs VapourSoft(R) Development Agreement with Regeneron

Consort Medical plc ("Consort Medical", "Consort") (LSE: CSRT), is pleased to announce that it has entered into a development agreement including key commercial supply terms with Regeneron Pharmaceuticals, Inc., a leading global biopharmaceutical company. The agreement provides for Consort's proprietary VapourSoft technology to be incorporated into a novel drug delivery device designed by Regeneron.

In the event that Regeneron elects to commercialise the developed device, the parties will enter into a full commercial supply agreement with manufacturing to be undertaken by Consort for both the VapourSoft technology and the drug delivery device itself.

VapourSoft is one of a range of novel technologies developed at Consort's Innovation Centre based in Cambridge, United Kingdom. Through the use of a liquid gas propellant, rather than a spring to drive the delivery of the drug, VapourSoft facilitates delivery of a broader range of drug formulations and volumes.

Jonathan Glenn, CEO of Consort Medical, commented: "We are delighted to be working with such a leading biotechnology innovator as Regeneron to develop novel devices for injectable drug delivery. The agreement recognises the wide applicability of the VapourSoft technology as a power source for auto-injectors and the potential for incorporation into devices where conventional spring-based systems may not be suitable".

Enquiries:

 
 Consort Medical                            Tel: [phone] 
 Jonathan Glenn - Chief Executive Officer 
 Paul Hayes - Chief Financial Officer 
 
 FTI Consulting                             Tel: [phone] 
                                             1000 
 Ben Atwell / Simon Conway 
 

About Consort Medical plc

Consort Medical plc is a leading, global, single source pharma services drug and delivery device company. We are at the leading edge of innovation and we are committed to investing in patient, clinician and customer driven innovation to create new treatments, new markets and new opportunities.

Our businesses:

Bespak is a global market leader in the manufacture of drug delivery devices for pharmaceutical partner companies, including respiratory, nasal, injectables and ocular products, and the manufacture of devices for the point of care diagnostics market.

Aesica is a leading provider of finished dose and active pharmaceutical ingredient (API) development and manufacturing services to pharmaceutical partners.

We employ approximately 2,000 people globally of which approximately 1,400 are located in the UK. We have UK facilities in King's Lynn, Cambridge, Nelson, Milton Keynes, Cramlington, Queenborough and Hemel Hempstead, German facilities in Monheim and Zwickau and a facility in Pianezza, Italy. Consort Medical is a public company quoted on the premium list of the London Stock Exchange (LSE: CSRT). www.consortmedical.com.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.

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October 18, 2019 02:00 ET (06:00 GMT)