NES ZIONA, Israel, September 15, 2011 /PRNewswire/ --
NanoPass Technologies Ltd. ("NanoPass"), a pioneer in intradermal (into-the-skin) delivery solutions for vaccines, announced today that it has recently entered into a license agreement for the MicronJet, its microneedle intradermal delivery device, with Circassia Ltd. (Oxford, UK) ("Circassia"), a specialty biopharmaceutical company focused on allergy and autoimmune diseases.
The agreement will provide Circassia with a license to use the device with many of Circassia's products including its cat and ragweed allergy therapies, which will enter phase III clinical trials in 2012. Financial terms were not disclosed.
Yotam Levin, MD, Chief Executive Officer of NanoPass, commented, "We are excited to enter into this license agreement with Circassia, a leading allergy vaccine developer. We see a significant fit between the device we've developed and Circassia's patients' needs. Along with the regulatory approvals we have recently obtained from the FDA, Europe and other regulatory bodies, securing a promising late-stage client is a key component towards full commercialization of our product.
"We plan to make MicronJet a valuable component of our product offerings, as it provides consistent and easy to use delivery to our target location, the skin. We intend to use the device for many of our allergy programs and have received extremely positive feedback from patients and clinicians," said Charles Swingland, Circassia's Vice-Chairman.
About NanoPass Technologies
NanoPass Technologies was founded by Dr. Shuki Yeshurun and is backed by prominent Israeli and US investors, including Ofer Hi Tech, D Partners, WFD Ventures, and Elcam Medical.
About NanoPass's MicronJet Device and Intradermal Immunization
MicronJet is a microneedle-based device for intradermal delivery of vaccines and drugs. The device allows for consistent, reliable, and simple delivery of the drugs directly into the skin. Injecting vaccines into the skin harnesses the skin's potent immunity, thereby significantly reducing the amount of vaccine required for vaccination. Furthermore, the device may induce superior immunogenicity while maintaining a lower dose than conventional doses delivered into the muscle.
Circassia is run by a team of highly experienced biotechnology scientists and entrepreneurs, and is chaired by the former Chairman of GlaxoSmithKline, Sir Richard Sykes. The company is based in the UK on the Oxford Science Park, and in Hamilton, Canada, where its joint venture Adiga Life Sciences is located. Its ToleroMune technology was developed originally by scientists at Imperial College, London. Having successfully completed four fundraising rounds Circassia is backed by a syndicate of world-class venture capital and institutional investors, including Imperial Innovations and Invesco Perpetual.
Circasssia is developing a range of allergy T-cell vaccines based on its proprietary ToleroMune® technology. The company has successfully completed a number of phase II studies with its cat, house dust mite and ragweed allergy products, and its grass allergy therapeutic is in clinical testing. Clinical results to date show that short treatment regimes with Circassia's T-cell vaccines can greatly reduce patients' allergic reactions, without the need for adjuvants or other immune stimulators, while proving extremely well tolerated. As a result, the treatments offer major potential clinical benefits compared with existing therapies, and have significant market opportunities. Over 150 million people suffer from allergic rhinitis in the US and Europe, and the current treatment market is approximately $12 billion per year.
Yotam Levin, CEO:
SOURCE NanoPass Technologies LTD.