Crystec, trading as CrystecPharma, have developed a unique system which crystallises drugs into novel particles, enhancing the delivery and performance of medicines. Their expert team works with the global pharmaceutical and healthcare industry to solve drug particle formation, formulation and process challenges. With funds raised, they will match grant-funding to continue a project with Chinese partners to improve drugs for respiratory disease, as part of the InnovateUK Newton Fund Research and Innovation Bridges Programme.
Performance in every particle ®
We work with clients in the global pharmaceutical and healthcare industry to improve the formulation and efficacy of drugs, to ultimately raise the quality of life for patients. We also develop our own innovative therapies in important areas of unmet clinical need, including women’s health, urology and respiratory disease.
CrystecPharma has extensive experience in pharmaceutical development. Our team have pioneered the application of SCF to pharmaceuticals and consists of acknowledged leaders in relevant fields of science, drug delivery, engineering, scale-up, manufacturing and medicine, underpinned by senior-level pharmaceutical industry and licensing experience.
With funds raised, we will match grant-funding to continue a project with Chinese manufacturers, as part of the InnovateUK Newton Fund Research and Innovation Bridges Programme*, to improve drugs for asthma and COPD. Current medications either aerosolise poorly or are too expensive for widespread use in China, where there is a high rate of respiratory disease, exacerbated by air pollution. With our SCF technology, we can alter the medicine to aerosolise more easily, in more simple and affordable devices. Ultimately it is hoped that this project will lead to improved access to better respiratory medicines for patients in China and the rest of the world.
*The Newton Fund aims to promote the economic development and social welfare of either partner country.
Where will the funds go?
A. Hi Esther. Thank you for your question. Our main interest is in dry powder inhalers (DPI). We can achieve high levels of Fine Particle Fraction (deep lung delivery potential) compared to conventionally formulated (e.g. micronised or spray dried) products. Drugs made using our technology can be delivered using simple DPI devices and perform well in patients even with poor lung function. We can also improve the performance of metered dose inhalers and suspension (but not solution) nebulisers.
A. Hi Kris, thank you for your question. On the assumption that invoices will be paid on time, we are currently projecting a 15%-20% increase on 2018 revenue by year end. Currently we do not seek to make a profit - our core strategy at present is to re-invest surplus revenues in developing our technology and pharmaceutical assets, with the aim of increasing our company valuation.
A. Thank you for your continued interest. The in-vitro data we have generated is very encouraging and we are optimistic. From an investment perspective it is worth mentioning that Crystec has a number of projects and partnerships. The success of the company does not depend solely on the outcome of one particular study.
A. Thank you for your follow-on question. Our focus in this programme is on improving the delivery of known medicines. Our aim is to ensure that more drug can get into the lung (even in patients with lung damage) and less is swallowed, which can cause other side effects. The trial is therefore not to determine efficacy, but how much our technology enables the dose to be reduced by to achieve the same concentration of drug in the lung. This is known as a super-generic or a 'me-better' study.
A. We have experience operating in China, having run R&D facilities there since 2008. We are fortunate to have the support of the UK and Chinese government which reduces risk. We only work with reputable partners - on this project with the Nobel Prize winning Shanghai Institute of Materia Medica. We are also careful to protect much of our technology as know-how. Process conditions and engineering configurations are unique for each product and do not transfer readily to other products.
A. Our plan is to solve specific product development challenges for clients, and then either manufacture through our own third party manufacturer or transfer a tailored process to our clients' own manufacturing site. Revenues will therefore be secured on the basis of cost effective material supply, affordable technology access fees and/or royalties.
A. We also generate income from fee for service work for pharmaceutical companies around the world, helping them to solve product development challenges. Over the past 12 years we have balanced grant income, fee for service income, and another fully paid off loan, in order to fund our research and development.
A. Hi Jakob, thank you for your question. Our InnovateUK funding is expected to continue for one more year - we are already in the final year of the programme. The project will continue after this, with us progressing the lead asset to a clinical trial application in advance of out-licensing. I hope this answers your question. Best wishes, Paul Thorning (CEO)
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