PA Consulting Group, the leading management, systems and technology consulting firm, has launched a new company - Meridica - to harness its pharmaceutical and drug delivery technology expertise. Meridica will meet the ever-increasing world wide demand for innovative drug delivery technologies.
With the demand for new drug delivery devices growing at triple the rate of the pharmaceutical market as a whole, Meridica will capitalise on PA's extensive track record in pharmaceutical and technological innovation. Through collaboration with industry partners on drug formulation, Meridica will develop and licence drug delivery devices and products. Pharmaceutical companies, both large and small, will benefit from the pace, quality and rigour that Meridica brings to the drug delivery system development process, and the company has taken as its byword, Excellence in drug delivery ™
The company, already has a number of new technologies and products, some at an advanced stage of development:
The company, already has a number of new technologies and products, some at an advanced stage of development:
- Xcelovent® is a novel breath-actuated metered-dose inhaler device for the delivery of drugs to the lungs by inhalation. It is vitally important that asthmatics receive the correct dose on each occasion medication is taken.This can only be achieved for the majority of asthmatics, particularly the elderly and children, through the use of a breath- actuated device. Xcelovent® is the first breath-actuated device developed specifically for use with non-CFC propellants. Xcelovent® is about to commence clinical trials in asthmatic patients and will be available for use with a variety of molecules.
- Meridica has also developed a fully-automated precision drug powder dispensing system. The immediate impact of this innovation will be to significantly reduce timescales and resource needed in support of early Phase 1 and 2 clinical developments. This system has the potential to transform the process for manufacture of a number of dosage forms and provide a step change in quality control during product manufacture.
- A number of other Meridica products are now moving into full development in anticipation of industry needs over the next five years. Meridica's new dry powder inhaler will meet the exacting regulatory requirements now being applied globally, and set new standards for performance in this important area of drug delivery. Nasal drug delivery has emerged as one of the fastest growing routes for drug administration and Meridica's nasal drug delivery device will again establish new performance standards, meeting both regulatory and patient needs.
The founding Meridica team of nine that has transferred from PA has over 100-man years' experience in drug delivery system development and has extensive industry experience, allowing Meridica to hit the ground running. Meridica aims to triple in size by the end of the year as part of an aggressive recruitment drive.
Initially, Meridica will be located principally at PA's Cambridge Technology Centre in Melbourn, Herts, UK. It will have its own GMP laboratory and development facilities where it will carry out device and drug product development. The company name reflects both its geographical location - just a few metres from the Greenwich Meridian Line - and its intended pharmaceutical and medical positioning.
For PA's existing pharmaceutical and healthcare clients, it is "business as usual". PA will continue to provide them with its full range of services from strategy consulting to product and process development.
Jon Moynihan, Executive Chairman, PA Consulting Group, said:
"Meridica has firm foundations in two key PA strengths - our pharmaceutical industry expertise and our track record in technological innovation and the delivery of pioneering products. Other consultancies cannot match this breadth of capability, which gives Meridica a unique heritage and track record to draw on. We see the company playing an influential role in drug delivery innovation and growing to be an important part of our burgeoning portfolio of venture companies."
Dr Ian Smith, President at Meridica, said:
"With ever tightening regulatory standards, there is enormous opportunity for new innovative drug delivery systems to be brought to market quickly. Our inhaler device, Xcelovent®, has progressed from concept sketches to moulded devices in just over a year - an industry record by far - and is reflective of the pace, quality and rigour that Meridica will apply to all its product developments."
David Edwards, Director of Strategic Marketing at Meridica, said :
"Meridica will capitalise on the explosive growth in drug delivery, as pharmaceutical companies seek new and innovative methods of delivering New Chemical Entities (NCEs) - and the extension of product life cycles and patent protection of existing branded and generic products."
