UK Based Drug Delivery Specialist, Q Chip Ltd, Launches Ocular Spin-Out, Opsirx Pharmaceuticals

Q Chip’s Board made the following announcement today:

• Q Chip has launched OpsiRx Pharmaceuticals Ltd (“OpsiRx”), the ophthalmology company developing products addressing unmet clinical needs including in uveitis and glaucoma.

• The Company has successfully demonstrated sterile manufacturing for its proprietary technology. Achievement of this milestone now enables production of material for clinical studies. The Independent clinical advisory board to OpsiRx has identified sustained release delivery direct to the eye as the ideal application.

• The company is also pleased to announce that Simon Turton has joined as Chairman. Formerly Head of European Healthcare Investments at Warburg Pincus, Dr Turton brings a wealth of experience in pharmaceuticals including in ophthalmology.

Commenting on these developments, Q Chip’s former chairman Ken Powell said ‘I am delighted to be handing over Q Chip’s management to Simon and our CEO Tim Sparey. With the demonstration of manufacturing and Simon joining, OpsiRx is well placed to develop our ophthalmology programmes. In addition, we look forward to continuing to work closely with our four partners in developing new products’. Dr Powell continues as a Board director and as a business development consultant.

On the back of this milestone, the company, which has been funded to date by Finance Wales, Disruptive Capital Finance and an angel syndicate including both chairmen, is exploring strategic alternatives to fund the accelerated development of its portfolio of products for ophthalmological conditions

OpsiRx's new Chairman, Dr Turton, stated, 'I was attracted to OpsiRx as its technology is truly enabling in developing novel high-value ophthalmology products using proven active molecules'.

About OpsiRx Pharmaceuticals

OpsiRx Pharmaceuticals is developing products to treat serious ocular diseases such as uveitis, glaucoma and age-related macular degeneration (AMD). Such diseases are growing in prevalence and incidence. New products are required to combat the increase of such devastating conditions which, if untreated, lead to sight loss. Working with world-leading experts in ophthalmology, OpsiRx is developing products such as OpsiSporin and OpsiProst that have long duration of actions and will be delivered directly into the eye through minimally invasive needles (see OpsiRx.com).

About Q Chip

Q Chip Ltd is a specialist drug delivery company based in Cardiff, UK. With expertise in the application of fluidic droplet systems (including microfluidic and piezo-based platforms), the main focus is formulating monodisperse microspheres for the controlled release of APIs. The Q-Sphera Microsphere production platform was developed in response to the limitations of current microsphere manufacturing methods and delivers consistent, reproducible and highly efficient production of microspheres whilst providing control over burst release and subsequent zero order drug delivery.

Q Chip has easy to administer, sustained release products in development for acromegaly (Q-Octreotide) and diabetes (Q-Exenatide) which offer long duration of action with defined release profiles.

For further information or comment please contact

sara.siddall@opsirx.com

www.opsirx.com

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