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Glide Pharma Announces £2.3 Million ($3.7 Million) Award From UK Biomedical Catalyst for Development of Osteoporosis Treatment


11/5/2012 12:06:10 PM

OXFORD, UK – 5th November 2012 – Glide Pharma, the specialty pharmaceutical company focused on the easy, safe and convenient administration of solid dose formulations of therapeutics and vaccines, today announced that the UK Biomedical Catalyst has awarded the company £2.3 million ($3.7 million) to support the development of a novel formulation of teriparatide (parathyroid hormone) for the treatment of osteoporosis. The UK Biomedical Catalyst, which was announced by Prime Minister David Cameron in December 2011, is managed jointly by the Medical Research Council and the Technology Strategy Board.

Glide Pharma will use the new funding to progress its Glide SDI® teriparatide through to the point of clinical testing. The programme will include full pre-clinical development, and will incorporate formulation and manufacturing process development of the novel solid dose for administration with Glide Pharma’s needle-free delivery system. Parathyroid hormone is used to promote bone growth in osteoporosis, and is currently the most effective medical intervention available. Glide Pharma’s needle-free solid dose teriparatide has the potential to offer a cost-effective, patient-friendly product that avoids the cost and complexity of refrigeration.

“Glide Pharma is delighted to be one of the first companies to receive early stage financing from the UK Biomedical Catalyst,” said Dr Ian Smith, Glide Pharma’s Chief Executive. “This award recognises the great potential advantages of our Glide SDI® technology, and the importance of offering patients an easy to use and effective osteoporosis treatment. Medication compliance can be a significant issue in osteoporosis, and we believe our Glide SDI treatment has the potential to become an important patient-friendly, future alternative.”

About osteoporosis

Osteoporosis is characterised by low bone density and increased susceptibility to fractures. Approximately 55% of people aged over 50 are at risk, and the disease affects over 2 million people in the UK and 30 million globally. Fractures can significantly affect patients’ quality of life, and in some cases can be fatal. Hip fractures can reduce mobility and increase care requirements. Hip fractures also have a significant impact on health budgets and cost the UK over £2 billion annually, which is projected to rise as the population ages.

About the Glide SDI ® solid dose injector

The Glide SDI® is an innovative needle-free delivery system. The reusable injector uses a spring mechanism to administer the tiny solid dosage below the patient’s skin where it dissolves and releases the drug to the body. Glide solid dose formulations eliminate the risk of needle-stick injuries and avoid time-consuming reconstitution, and have the potential to modify the release of medicines if required and improve stability, removing the need for refrigeration. The one-click action, pen-sized device is extremely easy to use, with medicines supplied in pre-filled disposable cassettes, making it ideal for self administration. In clinical testing, volunteers strongly preferred the Glide SDI® to traditional needle and syringe.

About Glide Pharma

Glide Pharma is a specialty pharmaceutical company focused on the easy, safe and convenient administration of solid dose formulations of therapeutics and vaccines. The company has a range of in-house and partnered programmes based on its proprietary solid dose injector, the Glide SDI ®. Glide Pharma has a strong management team with extensive experience of the pharmaceutical, biotechnology and medical device sectors. The company has successfully completed four investment rounds, and is supported by a consortium of institutional and private technology investors, including Oxford Technology Venture Capital Trusts, Oxford Capital Partners and Hygea VCT.

About the Biomedical Catalyst

The Biomedical Catalyst, announced by Prime Minister David Cameron in December 2011, is a programme of public funding designed to deliver growth to the UK life sciences sector. Delivered jointly by the Medical Research Council and the Technology Strategy Board, the Biomedical Catalyst provides responsive and effective support for the best life science opportunities arising in the UK. The programme is open to UK academics and SMEs and seeks to support those opportunities which demonstrate the highest scientific and commercial potential, irrespective of medical area. For further information please visit: http://www.innovateuk.org/content/competition/biomedical-catalyst.ashx



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