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Particle Sciences Acquires Exclusive License to Lyotropic Therapeutics' Drug Delivery Technology


3/5/2012 11:57:41 AM

BETHLEHEM, Pa., March 5, 2012 /PRNewswire/ -- Particle Sciences, Inc. (PSI), a leading pharmaceutical CRO, and Lyotropic Therapeutics, Inc. (LTI), a drug delivery technology company, announced today that Particle Sciences has acquired the exclusive rights to Lyotropic's LyoCell® patent portfolio. The LyoCell technology allows for the solubilization, stabilization, and delivery of a wide range of compounds - both small and large molecule. According to Robert Lee, Particle Sciences' VP Pharmaceutical Development, "LyoCells are proprietary lyotropic liquid crystal-based formulations that contain both polar and non-polar nano-domains. These unique structures create ideal conditions for the solubilization and stabilization of many pharmaceuticals and biopharmaceuticals. Made from GRAS ingredients, this technology is already in late stage clinical development in an intravenous product and has applications in most routes of administration." Under the revenue-share agreement, PSI obtains a full license to the technology except for several compounds previously developed by LTI. Particle Sciences will offer the technology to its clients looking to increase bioavailability or develop parenteral formulations of difficult-to-solubilize compounds. Intellectual property around the stabilization of macromolecules is also included in the transaction.

Vince Conklin, Lyotropic Therapeutics' CEO, adds that, "The LyoCell technology has proven to be highly effective in solving very difficult formulation problems and is the basis for several drugs now in or poised to enter the clinical stage. We are very pleased to have a partner like Particle Sciences, a leader in the formulation and drug delivery space, who is well positioned to further broaden exposure for the LyoCell technology and to employ its enormous utility."

Rob Lee adds, "The technology is protected by a family of very young patents offering protection to 2028 and beyond. Particle Sciences is very excited to bring the technology to our clients as it addresses the top technical issues we face every day, namely solubility and bioavailability, while also providing solid patent protection. Lyotropic liquid crystals has proven to be an outstanding approach that utilizes GRAS ingredients, something very unusual today. We anticipate our clients using this for both new chemical entities as well as life-cycle extension efforts. In both situations, the LyoCell technology has a lot to offer."

Particle Sciences is an integrated provider of drug development services. Particle Sciences focuses on emulsions, gels, micro and nano-particulates, drug/device combination products and highly potent compounds across all dosage forms. Through a full range of formulation, analytic, and manufacturing services, Particle Sciences provides pharmaceutical companies with a complete and seamless development solution that minimizes the time and risk between discovery and the clinic. The company was founded in 1991 and is headquartered in Bethlehem, Pennsylvania. Visitwww.particlesciences.com, email info@particlesciences.comor contact us at (610) 861- 4701 for information.

Lyotropic Therapeutics, based in Richmond, Virginia, is a privately held company formed in 1999 to develop and commercialize the LyoCell® and other drug delivery technologies. The Company's mission is to develop drug delivery formulations across a broad range of product applications with a special emphasis on therapies for critical care, anesthesia and pain management.

Contact:
Maureen Mattera
610.861.4701
mmattera@particlesciences.com

SOURCE Particle Sciences, Inc.



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