Ferring Pharmaceuticals signed an agreement with South Korean CTCBIO to acquire rights to a novel oral drug delivery technology. The Swiss company is growing more and more rapidly with plenty of updates since the begining of the year.
Ferring’s success in developing oral formulations for peptide drugs including the world’s first orally active peptide, desmopressin (MINIRIN) and the fast dissolving lyophilisate (MINIRIN MELT), is well known. Its portfolio of peptide therapeutics makes them an attractive partner for specialised technology-based companies like CTCBIO. Based in Seul, CTCBIO is a growing specialised company that has developed successful manufacturing technologies for more than 30 different drugs, including treatments for dementia and asthma.
Dr. Jeon, Hongryeol, Vice President of CTCBIO, explained: “Keeping the active pharmaceutical ingredient stable and secure is critical. This technology makes this possible and is particularly useful for hydrophilic macromolecules like peptides and proteins while offering the advantage of oral administration.”
The Swiss pharma has been a pioneer in the development of novel oral drug delivery technologies. In fact, last week Ferring announced the European launch of CORTIMENT MMX (budesonide), the first and only approved oral controlled release budesonide treatment for active mild-to-moderate ulcerative colitis where mesalazine treatment is not sufficient.
Under the agreement involving an undisclosed up-front payment, milestone and royalty terms, Ferring and CTCBIO will collaborate to develop prototype formulations for in-vitro and in-vivo testing and the subsequent up-scaling required to manufacture the technology to meet worldwide good manufacturing practice requirements.
These news together with the appointment of Pascal Danglas as the Executive Vice President and Chief Medical Officer and Per Falk as the Executive Vice President and Chief Scientific Officer last January, are a good sign of the increasing growth and strength of Ferring.