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Critical Pharmaceuticals awarded funding by Wellcome Trust
02/01/2010
Critical Pharmaceuticals, the Nottingham-based pharmaceuticals company, has secured a £1.5m translation award from the Wellcome Trust to develop a nasal spray of Human Growth Hormone (hGH) using its proprietary CriticalSorb™ technology as an alternative to injection.
Lisbeth Illum, Chief Executive Officer of Critical Pharmaceuticals said the hGH market represented a major opportunity for the company; “This project addresses a large unmet medical need. Biologics continue to grow in importance, representing 30% of new drugs. However, 98% of these are administered by frequent injection, which can cause problems with patient compliance.”
The Wellcome Trust funding will support the development of a nasal human growth hormone product through a phase 1 proof of concept study in human volunteers and determine the long term nasal tolerability of CriticalSorb™.
To raise further funding Critical Pharmaceuticals presented at the Connect Midlands Investment Conference in 2009 and will be presenting at the London Investment Conference in January 2010.
Submitted by Connect Midlands