WINCHESTER, Mass., March 24 /PRNewswire/ -- QRxPharma Pty Ltd (QRx) today announced that it has signed a development agreement with Shire Laboratories Inc., a subsidiary of Shire Pharmaceuticals Group plc , under which Shire will develop extended release formulations of QRx’ novel opioid product, Q8003. Q8003, the immediate release version of the novel opioid product, is currently under development for the treatment of moderate to severe pain and is expected to be ready to enter Phase III clinical trials later this year.
“We are pleased to be working with Shire Laboratories Inc. on this exciting product opportunity,” said Gary W. Pace, Ph.D., Chairman and Chief Executive Officer of QRx. “Our decision to partner with Shire Laboratories was based on Shire’s proven ability in developing advanced product formulations and reputation for high quality work. By applying the proprietary formulation, drug delivery expertise and capabilities of Shire, we expect to further strengthen the product profile of our unique high potency opioid.”
The Company’s lead proprietary product, Q8003, is a novel opioid product for use in the treatment of acute and chronic moderate to severe pain. Immediate release, controlled-release and injectable formulations are being developed. The product is based on a novel mechanism of action. Because of the opioid sparing nature of Q8003, the product has the potential for lower side effects that normally accompany opioids, such as nausea, respiratory depression, sedation, constipation. Side effects limit the efficacy and use of opioids for pain control.
“We are excited to have the opportunity to contribute to the development of the controlled release product. The product is based on a novel approach by QRx that we believe could be a major advancement in the treatment of pain,” said Jack Khattar, President and Chief Executive Officer of Shire Laboratories.
Shire Laboratories Inc. is the advanced drug delivery subsidiary of Shire Pharmaceuticals Group plc. Shire Laboratories markets its Predictive Lead Selection Technology (ProScreen(R)) and Predictive Formulation Optimization Technology (OptiScreen(R)) to the pharmaceutical industry along with its proven and patented oral controlled release formulation technologies, Microtrol(R), Solutrol(TM) and EnSoTrol(R).
QRxPharma Pty Ltd is developing and commercializing analgesic and hematologic products. The Company’s lead product, a novel opioid, is targeted at the largely unmet, multi-billion dollar market for the treatment of moderate to severe pain. Additional products under development include anti-fibrinolytic and haemostatic agents. The Company also has drug discovery programs in pain and hematology based on research at the University of Queensland, Australia on the venoms of Australian poisonous snakes.
QRxPharma Pty Ltd.
CONTACT: Gary W. Pace PhD of QRxPharma, gwpace@qrxpharma.com,+1-781-756-0440; or Kari Lampka of MacDougall BioCommunications, Inc.,klampka@macbiocom.com, +1-508-647-0209, for QRxPharma Pty Ltd.
Web site: http://www.qrxpharma.com/
