OXFORD, England, February 10 /PRNewswire/ -- Glide Pharma, a specialty
pharmaceutical company focused on the needle-free administration of solid
dose therapeutics and vaccines, today announced that it has completed an
oversubscribed GBP2.7 million ($4.3 million) investment round. The
fundraising was supported by a number of existing institutional and private
investors, including Hygea VCT and Oxford Technology VCTs. The company has
now completed four successful investment rounds, securing funding totalling
approximately GBP10 million. Glide will use the new funds to progress its
in-house Glide octreotide programme into clinical development and to continue
scale-up of its commercial manufacturing process.
The investment follows the recent successful clinical proof-of-concept of
Glide Pharma's proprietary solid dose injector, the Glide SDI(R). The
clinical study, conducted in 18 subjects with a solid dose formulation of the
analgesic fentanyl, confirmed that the Glide SDI can safely and quickly
deliver accurate doses into the systemic circulation, demonstrating the
potential of the Glide technology in the $2 billion per annum breakthrough
pain market. Throughout the study, administration with the needle-free Glide
SDI avoided the bruising and bleeding associated with needle and syringe
delivery.
"The completion of this oversubscribed fundraising is a clear
demonstration of our investors' confidence in the Glide technology and the
advantages it can offer both patients and our partners in the pharmaceutical
industry," said Dr Charles Potter, Glide Pharma's CEO. "Glide has made great
progress recently, having achieved clinical proof-of-concept with our
proprietary solid dose injection system, and extending our pipeline of
programmes with pharmaceutical partners. We aim to build on this strong
foundation in the coming months by accelerating our second in-house project,
Glide octreotide, into the clinic."
About Glide Pharma
Glide Pharma is a specialty pharmaceutical company focused on the easy,
safe and convenient administration of solid dose formulations of therapeutics
and vaccines. The company has a range of in-house and partnered programmes
based on its proprietary needle-free solid dose injector, the Glide SDI(R).
Glide has a strong management team with extensive experience of the
pharmaceutical, biotechnology and medical device sectors. The company has
successfully completed four investment rounds, and is supported by a
consortium of institutional and private technology investors, including
Oxford Capital Partners, Hygea VCT and Oxford Technology Venture Capital
Trusts.
About the Glide SDI(R) solid dose injector
The Glide SDI is an innovative needle-free delivery system. The reusable
injector utilises a spring mechanism to rapidly administer medicines, in the
form of a tiny granule supplied in a pre-filled disposable cassette, below
the patient's skin where it dissolves and enters the circulation.
The one-click action, pen-sized device is extremely easy to use, making
it ideal for self administration. In clinical testing, volunteers strongly
preferred the Glide SDI to the traditional needle and syringe. Additionally,
Glide solid dose formulations offer the potential to improve the stability
and to modify the release of medicines into the bloodstream, avoid
time-consuming reconstitution and eliminate the risk of needle-stick injuries.
Contacts
Charles Potter
CEO
Glide Pharma Tel:
Tel: +44(0)8700-853700
Rob Budge
RJB Communications
+44(0)1865-760969
Mobile: +44(0)7710-741241
http://www.glidepharma.com
SOURCE Glide Pharma
