EIF eiffel technologies limited

EIF Announcement

  1. 121 Posts.
    Signs Second Agreement with Battleepharma
    14-06 0945


    Eiffel Technologies Ltd (EIF: ASX) announced today it has signed a
    second agreement with BattellePharma, a pre-public specialty
    pharmaceutical company based in the United States. Under this
    12-month contract, Eiffel will create drug nanoparticles for
    BattellePharma's asthma product, now in development, using its suite
    of Supercritical Fluid (SCF) technologies. BattellePharma will
    utilize the drug particles in the development of a novel asthma
    product and will test it using BattellePharma's proprietary
    Mystic(TM) inhalation delivery technology. Eiffel will retain the
    intellectual property that relates to the process and methodology of
    its SCF technology. Specific details of the agreement and the project
    were not disclosed.

    Eiffel's SCF technology is a chemical engineering technique that is
    emerging within the pharmaceutical industry as a tool used to improve
    drug delivery and effectiveness. It results in increased and more
    consistent absorption of drugs in the body, reduced patient side
    effects, and increased efficacy and delivery options. The
    re-engineering of existing therapies is a way to extend the patent
    life of currently marketed and generic drugs.

    This is the fourth international drug delivery agreement in six
    months for Eiffel Technologies. This second collaboration with
    BattellePharma, which has partnerships with several major
    pharmaceutical groups, follows a recently completed initial research
    collaboration with the company. Eiffel's other recently announced
    partnerships include a contract signed with Sheffield Pharmaceuticals
    Inc, in the US in December 2001, and a research collaboration
    signed in May 2002 with Amarin Corporation in the United Kingdom.

    With more than US $40 billion in drugs coming off patent over the
    next five years, there is a need for improved drug delivery and
    performance through particle re-engineering. The global market for
    asthma therapeutics is estimated at more than US $8 billion a year
    and more than 100 million people suffer from asthma worldwide.

    "This second agreement with BattellePharma is a revenue generating
    contract and serves as a strong endorsement for our SCF
    technologies," said Christine Cussen, Eiffel Technologies CEO.
    "Eiffel adds value by reformulating new, currently marketed, and
    generic pharmaceuticals to improve the performance of therapies and
    offer more convenient, patient-friendly delivery of drugs. The
    BattellePharma agreement represents the potential to progress towards
    a long term supply agreement with a highly reputable pharmaceutical
    Company."

    "We are pleased to continue our relationship with Eiffel," said
    Dennis Cearlock, BattellePharma's CEO. "Our Mystic technology, which
    outperforms current inhaled drug delivery options, allows for highly
    reproducible dosing, resulting in better disease management and lower
    overall doses for improved safety. We believe the combination of the
    SCF technology and our Mystic delivery system will enhance the
    performance of BattellePharma's asthma product."

    Eiffel Technologies Ltd, is a bioengineering company focused on
    improving the performance and delivery of pharmaceuticals, proteins
    and peptides. Based in Melbourne, Australia, the company is dedicated
    to the development and commercialization of SCF drug re-engineering
    technologies to improve therapeutic outcomes and patient
    administration of new and currently marketed pharmaceuticals. For
    more information on Eiffel Technologies, see the company website
    www.eiffeltechnologies.com.au for details.

    BattellePharma is a pre-public specialty pharmaceutical company
    leveraging science and technology to design more effective medicines.
    The company has a growing portfolio of nine products in development,
    with several in early clinical trials. The products are based on
    three proprietary platforms: Mystic(TM) inhalation technology, novel
    formulation technologies, and inhaled anticancer therapy. The company
    develops products by combining these platforms with novel or generic
    compounds to create therapies to treat respiratory and systemic
    diseases and lung cancer. BattellePharma has partnerships with
    numerous pharmaceutical corporations, including Abbott Laboratories,
    GlaxoSmithKline, Pfizer Inc, Viasys Healthcare, and ViroPharma Inc,
    and is a subsidiary of Battelle Memorial Institute, the world's
    largest independent and private research and development
    organization. For more information on BattellePharma, reference the
    company's website at www.bettellepharma.com.

    For further information, please contact: -

    Christine M Cussen
    CHIEF EXECUTIVE OFFICER
    Eiffel Technologies Limited
    Level 14/50 Market Street
    MELBOURNE VIC 3000
    Tel: +61 3 9629 8022
    Fax: +61 3 9629 8077
    Email: [email protected]

    Or

    Sam Quigley
    CHAIRMAN, EIFFEL RESEARCH & DEVELOPMENT PTY LTD
    AND DIRECTOR, Eiffel Technologies Limited
    Tel: +61 3 9614 5505
    Email: [email protected]

    ends - AAP
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