January 7th, Galway, Ireland: Aerogen Ltd, a privately owned respiratory drug delivery company has today announced that it has signed a technology access and licence agreement with Philips (NYSE: PHG, AEX: PHIA), which also includes the acquisition of select assets solely related to Aerogen’s home-care business. This transaction will allow Aerogen to focus on its corporate strategic goal to expand its leadership position in the respiratory drug delivery acute care and homecare ventilation settings. The deal consists of an initial upfront payment with further royalty income based on exploitation of the licensed technology. Further details of the transaction are not disclosed.
“This deal is an important step along Aerogen’s growth trajectory as it allows us to focus on expanding our core business in the acute care setting, whilst facilitating consistency of care for respiratory patients from hospital to home,” said John Power, Aerogen CEO. “Our acute care business has grown at a phenomenal rate over the past five years. Working with the global leaders in acute care ventilation and our independent distribution network we are today recognised as the gold standard for aerosol delivery in acute care ventilation. With several important new product releases planned for early 2014 we look forward to expanding our leadership position across all areas of aerosol drug delivery in the hospital environment”.
The Philips deal announcement caps an incredible year for Aerogen. The company was honoured with the prestigious Zenith Award from the American Association of Respiratory Care (AARC) in November and went on to win the Medical Technology Company of the Year Award presented by the Irish Medical Device Association (IMDA) in December.
Both Aerogen and Philips are committed to ensuring that the transaction will enhance the supply of products and services to their respective customers. Aerogen’s acute-care and home ventilator drug delivery business is unaffected by the transaction and no employees will transfer to Philips.
About Aerogen:
- Aerogen (www.aerogen.com) is an international medical device and drug delivery company specialising in the design, manufacture and marketing of nebulisation systems aimed at the critical care respiratory market. Aerogen’s patented vibrating mesh aerosol technology lies at the heart of its category-leading drug delivery systems.
- Founded in Galway in 1997, Aerogen has grown to become the global leader in acute care aerosol drug delivery equipment. Today its Aeroneb® products play a critical role in treating patients on life-support ventilation in over 65 countries worldwide.
- Aerogen employs a fast-growing team of more than 60 graduates, predominantly with qualifications in Science, Engineering and Business disciplines and many to PhD level.
- Aerogen is a dynamic and evolving company, focusing on innovative products that create new market opportunities. This innovative approach has seen Aerogen register over 40 international patents and continually develop new products, leading the way in the aerosolised drug delivery market.
- The company also partners with pharmaceutical and biotechnology companies to develop and deliver superior inhaled drug candidates utilising its proprietary vibrating mesh aerosol generator technology platform in the acute care and home ventilator setting.
Press Contact Details:
Edel Bach, Hume Brophy, E: edel.bach@humebrophy.com, T: +35316624712 M:+353860453821
Eileen Sweeney, Aerogen, E: esweeney@aerogen.com T:+353 91 540400
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