CritiTech and AAIPharma Services Announce Strategic Alliance to Provide A Novel Drug Delivery Option to Pharmaceutical and Biotech Companies
LAWRENCE, KS and WILMINGTON, NC, July 8, 2010 -- AAIPharma Services Corp., a biopharmaceutical drug product development and contract manufacturing company, and CritiTech, Inc., a nanotechnology company that improves the delivery of therapeutic molecules, announce a strategic alliance to expand the reach of the CritiTech technology.
This alliance will allow pharmaceutical and biotech companies to choose a novel drug delivery option in early animal toxicology and clinical studies where there is a drug delivery challenge that cannot be solved through conventional approaches. Drug product development and manufacturing will be performed by AAIPharma Services, and drug product intermediate manufacturing will be performed by CritiTech. The two companies will be connected through AAIPharma Services’ best-in-class project management expertise.
AAIPharma Services Corp already offers both its own proprietary drug delivery technologies as well as other technologies through its alliance partners, such as Emisphere Inc. The alliance with CritiTech provides a new drug delivery option for parenteral administration to complement AAIPharma Services already established oral drug delivery franchise. CritiTech’s technology aims to improve the delivery of therapeutic molecules with low aqueous solubility or poor bioavailability. The key benefit of the CritiTech technology is the body’s improved ability to absorb these difficult to formulate drugs. One key differentiator of the Crititech technology is it allows for parenteral administration of drugs which previously could not be administered via this route.
Chief Executive Officer of CritiTech Inc. David Johnston said, “The Alliance with AAI Pharma services allows us to share the established CritiTech technology, used in our Nanotax™ product currently in development, with a broad range of potential customers. The collaboration with AAI Pharma services and their outstanding product development and manufacturing capability allows us to provide additional drug delivery options throughout the drug product development cycle and to more fully exploit CritiTech technology.”..
Chief Executive Officer of AAIPharma's Services L. Lee Karras added, "The alliance with CritiTech allows us to add a breakthrough drug delivery option for our pharmaceutical and biotech customers, whether they are developing a new product or improving an existing product already on the market. The combination of the CritiTech technology and AAIPharma Service's best- in- class drug product development and contract manufacturing services will be of tremendous value to customers. This new offering is in line with our strategy to become the leading provider of complex drug development services to the pharmaceutical and biotechnology industries."
About CritiTech Technologies, Inc.
CritiTech is a technology company that focuses on a unique and improved delivery of therapeutic molecules and compounds using its patented nanotechnology. CritiTech’s technology is licensed from the Department of Chemical Engineering at the University of Kansas and the Higuchi Biosciences Center. The technology can be applied to the oral route of administration as well other delivery pathways, such as buccal, rectal, inhalation, vaginal or transdermal. CritiTech laboratory operations are located in Lawrence, Kansas. For more information on the company, go to www.crititech.com.
About AAIPharma Services Corp.
AAIPharma Services Corp. is a leading provider of services that encompass the entire process of pharmaceutical drug development from discovery through commercialization. The company specializes in analytical chemistry, formulation development, clinical packaging, oral drug delivery and contract manufacturing. AAIPharma Services serves more than 300 large pharmaceutical and biotechnology companies throughout North America. It is headquartered in Wilmington, North Carolina. For more information on the company, go to www.aaipharma.com.
Media contacts:
AAIPharma Services .
Barry Johnson
800.575.4224, 919.260.6696
barry.johnson@aaipharma.com
CritiTech Technologies, Inc
Davd Johnston Ph.D.
910.508.7994
david.johnstonphd@att.net
