Glide Pharma, the specialty pharmaceutical company focused on the easy, safe and convenient administration of solid dose formulations of therapeutics and vaccines, today announced that the UK Biomedical Catalyst has awarded the company £2.3 million ($3.7 million) to support the development of a novel formulation of teriparatide (parathyroid hormone) for the treatment of osteoporosis. The UK Biomedical Catalyst, which was announced by Prime Minister David Cameron in December 2011, is managed jointly by the Medical Research Council and the Technology Strategy Board.
Glide Pharma will use the new funding to progress its Glide SDI® teriparatide through to the point of clinical testing. The programme will include full pre-clinical development, and will incorporate formulation and manufacturing process development of the novel solid dose for administration with Glide Pharma’s needle-free delivery system. Parathyroid hormone is used to promote bone growth in osteoporosis, and is currently the most effective medical intervention available. Glide Pharma’s needle-free solid dose teriparatide has the potential to offer a cost-effective, patient-friendly product that avoids the cost and complexity of refrigeration.
“Glide Pharma is delighted to be one of the first companies to receive early stage financing from the UK Biomedical Catalyst,” said Dr Ian Smith, Glide Pharma’s Chief Executive. “This award recognises the great potential advantages of our Glide SDI® technology, and the importance of offering patients an easy to use and effective osteoporosis treatment. Medication compliance can be a significant issue in osteoporosis, and we believe our Glide SDI treatment has the potential to become an important patient-friendly, future alternative.”
Osteoporosis is characterised by low bone density and increased susceptibility to fractures. Approximately 55% of people aged over 50 are at risk, and the disease affects over 2 million people in the UK and 30 million globally. Fractures can significantly affect patients’ quality of life, and in some cases can be fatal. Hip fractures can reduce mobility and increase care requirements. Hip fractures also have a significant impact on health budgets and cost the UK over £2 billion annually, which is projected to rise as the population ages.
About the Biomedical Catalyst
The Biomedical Catalyst, announced by Prime Minister David Cameron in December 2011, is a programme of public funding designed to deliver growth to the UK life sciences sector. Delivered jointly by the Medical Research Council and the Technology Strategy Board, the Biomedical Catalyst provides responsive and effective support for the best life science opportunities arising in the UK. The programme is open to UK academics and SMEs and seeks to support those opportunities which demonstrate the highest scientific and commercial potential, irrespective of medical area. For further information please visit: