Pharmaplaz plays good Samaritan in drug deal
collaboration with Pharmaplaz to produce and supply Samiritan's
lead compound and pipeline of drugs that includes treatments for
AIDS, Alzheimer's, cancer and cardiovascular disease.
The deal aims to make use of Pharmaplaz's virtual in-house facility; eliminating the hiring of contract manufacturers, savings could amount to as much as $500,000 (€407,000) per drug.
Under the terms of the alliance, Pharmaplaz will collaborate with Samaritan's pipeline development working on drug formulation and testing, drug specifications, process validations and drug optimisation. The companies will also work together to secure regulatory approval by the FDA for selected products in the US market.
"To know we have a manufacturing arm not dependent on contract manufacturers who favour large pharma is a relief. It accelerates Samaritan's vision for SP-01A and its pipeline," said Dr Janet Greeson, CEO of Samaritan Pharmaceuticals.
She added: "We have saved an enormous amount of money and jumped a manufacturing hurdle for ourselves and potential pharmaceutical partners."
Samaritan's proprietary HIV drug SP-01A is the closest to commercialisation. SP-01A is an oral 'entry Inhibitor' drug that works by blocking the HIV virus' ability to infect a cell. Encouraging data from a Phase I/II trial suggest SP-01A is a promising drug for patients experiencing drug resistance.
The trend in recent years has been for pharmaceutical companies leasing out its facilites as a solution to decreasing budgets and the need to raise revenue. However, this has resulted in manufacturing problems with facilities being overbooked years ahead.
"Overcoming this manufacturing hurdle for major pharma could also make Samaritan's drugs an even more attractive partnering candidate," said Eugene Boyle, CFO of Samaritan Pharmaceuticals.
Attractive tax breaks have turned Ireland into a major drug-manufacturing centre, with 13 of the top 15 drug makers now in Ireland.In addition, Ireland offers a shelter for companies such as Samaritan wishing to develop intellectual property (IP) there. Zero percent tax on revenue earned through IP developed in Ireland, make it an attractive investment location for Samaritan's drug delivery development. 13 of the top 15 pharmaceutical companies have set up sites there.
