Prasco Laboratories Affiliate Acquires Larger Stake In Aprecia
Published: Sep 07, 2017
CINCINNATI, Sept. 7, 2017 /PRNewswire/ -- Privately held Prasco Laboratories ("Prasco") announced today an affiliate company has purchased additional shares of Aprecia Pharmaceuticals Company from existing stockholders. Prasco and its affiliates plan to leverage Aprecia's proprietary three-dimensionally-printed (3DP) technology platform to pursue licensing agreements with brand pharmaceutical companies. The company's focus will be to provide life cycle extension as well as expanded opportunities for new chemical entities.
Aprecia is the world's first and only commercial-stage manufacturer of three-dimensionally printed pharmaceuticals. Its first 3DP innovation, ZipDose® Technology, can be combined with a wide variety of active pharmaceutical ingredients to create rapidly disintegrating oral dosage forms that include multiple therapeutic categories. Beyond ZipDose Technology, the company sees additional 3DP platforms as a means to provide breakthrough products in multiple dose forms.
"The future of pharmaceutical manufacturing is here, and we are excited to bring this new technology to current and new partners," said E. Thomas Arington, Chairman of both Prasco and Aprecia. "Prasco's business is based on partnerships, and we believe that Aprecia's proprietary technology offers manufacturers another way to protect their brand investment, improve patient care and advance innovation. We are optimistic about the future regarding additional brand partnerships with Prasco/Aprecia," he continued.
With the completion of this stock purchase, Aprecia will remain independent, exclusively focused on providing 3DP product development technology and services.
"The expansion of the relationship with Prasco and its affiliates is a natural fit for both companies," said Don Wetherhold, CEO of Aprecia. "With its stellar reputation and long-standing partnerships across the pharmaceutical industry, Prasco now bridges the pioneering work done here at Aprecia with the pharmaceutical marketplace, allowing Aprecia to continue to focus on innovation and execution."
BMO Financial Group acted as financial advisor and facilitator to Prasco for this transaction.
Aprecia, the world leader in three-dimensionally-printed pharmaceutical products, expects to use its ZipDose® Technology to transform the way people take medicine. Its first innovation, ZipDose Technology can be combined with a wide variety of active pharmaceutical ingredients to create rapidly disintegrating oral dosage forms that are easy to take and easy to administer. Aprecia holds the exclusive worldwide license to the patent estate for pharmaceutical 3DP applications, and plans to license its exclusive patent protected technology to pharmaceutical partners as a means to extend product lines, expand patient reach, and protect market exclusivity for innovator's brand products.
Prasco, the Authorized Generic Company, is a privately held healthcare company located in Mason, Ohio. Nearly 50 of the most innovative and trusted brand companies have relied on Prasco to bring their products to the generic marketplace as Authorized Generics. As the acknowledged category leader, Prasco has launched 85 Authorized Generics, providing patients with brand quality at more affordable prices in over 80,000 pharmacies nationwide. For more information, visit www.prasco.com.
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SOURCE Prasco Laboratories