The project intends to accelerate paediatric formulation development through smart design and predictive science, and is backed by other Big Pharma - Pfizer, Bristol Myers Squibb and GlaxoSmithKline - as well as a number of academic institutions.
The goal is to deliver a novel, commercially available, regulatory-approved platform that speeds up, cuts costs, and improves quality of paediatric formulation development.
Acquired by US-based Columbia Laboratories in September for $25m, Molecular Profiles’s role in the collaboration will be to work on the development and analysis of the products, a spokesperson told Outsourcing-Pharma.com.
The company continued to tell us it was down to Molecular Profiles’s track record with Big Pharma that the firm was selected in the three-year project. In the early stages, Molecular Profiles will be “looking at best analytical tools and then at a later stage, refining the final platform,” we were told.
The £1m ($1.64m) venture is being funded in part by the UK’s innovation agency, the Technology Strategy Board, who has granted £600,000 towards the project.