Momentum growing at specialists Archimedes as lead enters phase III
pharmafile | February 9, 2007 | News story | Research and Development |Â Â Â
Specialist pharmaceutical company Archimedes has reached a vital stage in its plans for growth as its lead product enters phase III.
The product is called Nasalfent, (fentanyl citrate), a nasal spray which the company says can provide rapid relief for breakthrough cancer pain.
The drug is currently in phase III trials and is expected to reach the market in 2009.
Dr Mark Watling, medical director of Archimedes said: "Enrolling our first patient in our global phase III programme for Nasalfent is an important milestone for Archimedes.
"We believe Nasalfent could offer real benefits to patients, and the fact that this significant programme is being supported by many of the leading figures in breakthrough cancer pain highlights its significance."
It is estimated that up to 95% of cancer patients suffer sudden and unexpected episodes of intense pain that occur despite background pain medication.
Archimedes believes its nasal drug delivery systems offer relief from breakthrough cancer pain more rapidly than oral drugs.
In addition to Nasalfent, Archimedes also has a number of other nasal delivery products in the pipeline.
The company's management has ambitious plans for rapid expansion in the company's business, and it has acquired a number of specialist businesses since it was set up in December 2004.
Most recently, Archimedes bought the UK-based pharma group Link Holdings for a sum thought to be around £25 million.
Link, based in Horsham, West Sussex, was formed 10 years ago and is forecast to achieve profits of around £16 million in 2006. The company is well established in the selling and marketing of niche products in the UK, France and Germany.
The acquisition has brought Links' four marketed drugs into the Archimedes portfolio: Gliadel is the world's first locally administered chemo drug for high-grade gliomas, a form of brain cancer, and is already available in four European countries. It is expected to be launched in a further four EU countries in the next 12 to 18 months.
Zomorph is a sustained-release morphine medication; Nozinan is an anti-emetic drug for patients with advanced cancer, and Pabrinex is a high-potency formulation of vitamins B and C for the treatment of chronic alcoholism.
Richard de Souza, chief executive of Archimedes Pharma, said: "The acquisition of Link fits perfectly with Archimedes' strategy of growing our commercial presence through the acquisition of pharmaceutical companies or products in Europe."
He added: "We gain a portfolio of specialist, prescribed products that will generate immediate revenue and have considerable near and mid-term growth potential.
"We also gain a commercial organisation seeking a specialty pharma partner in Europe. This organisation will also provide the infrastructure for European marketing of our own lead product, Nasalfent."
The company is continuing to expand its management team, and recently appointed Simon Collins as UK country manager.
Collins has more than 14 years' experience in the pharmaceutical industry, most recently as business unit director and executive committee member for Sanofi-Aventis in the UK.
