Mystic Pharmaceuticals receives U.S. patent for intranasal delivery
technology for pharmaceuticals and biologics. The US market for nasal drugs
will reach $4.25B by 2015 [according to market research firm Evaluate Pharma],
which will further expand the market opportunity for this technology.
Full press release below.
SOURCE: Mystic Pharmaceuticals
AUSTIN, Texas (February 07, 2013 04:00 AM Pacific Time) – Mystic Pharmaceuticals,
an integrated specialty pharmaceutical company, announced today it has
been granted U.S. Patent No. 8,377,009, “Intranasal Cartridge Devices” a novel
device technology for delivering drugs and biologics into the body via the
nasal route. This delivery system is based upon the company’s VersiDoser®
and VRx2™ unit dose packaging and delivery platforms.
Mystic’s President and CEO, Timothy Sullivan stated that, “The US market
for nasal pharmaceuticals is projected to hit $4.25B by 2015 for a broad range
of therapeutic drugs. Nasal vaccines will further expand this market
opportunity for our technology. Our VersiDoser® and VRx2™ delivery solutions
are designed to enhance the patient experience by making these products safer,
easier and more convenient to use.” Applications for the company’s intranasal
delivery technology include vaccines for infectious diseases such as pandemic
or seasonal influenza and therapeutics for pain management, seizure, emesis,
depression, hormone therapy and diabetes.
Mystic’s patient oriented delivery technology, used in combination with
pharmaceutical drugs and biologics, provides the patient a superior product
experience to facilitate
compliance and adherence to prescribed use leading to improved
health outcomes. For manufacturers, developing patient oriented combination
products will benefit the consumer and can extend or establish market
exclusivity and competitive differentiation for new or existing products.
Mystic’s delivery solutions are engineered to meet the diverse demands of
manufacturers and consumers in a globally competitive market.
About Mystic Pharmaceuticals, Inc.
Mystic Pharmaceuticals™ is an integrated specialty pharmaceutical
company based in Austin, Texas. Mystic provides patient oriented delivery
solutions for pharmaceuticals, biopharmaceuticals and biologics for intranasal,
ophthalmic, sublingual, and otic applications. Mystic combines its novel
delivery systems with pharmaceuticals and biologics under development by Mystic
and its partners, to meet the expanding global market demand for healthcare
products that are safer, simpler to use and cost effective. For more
information please visit the Mystic website: www.mysticpharmaceuticals.com.
Contacts:
Mystic Pharmaceuticals, Inc.
Melissa Brandt, +(1) 512-918-2900, ext.
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