Healthcare Industry News: osteoporosis
News Release - February 1, 2017
Glide Technologies Announces Successful £3.2 Million ($4.0 Million) FundraisingOXFORD, England, February 1, 2017 -- (Healthcare Sales & Marketing Network) -- Glide Technologies, the pharmaceutical development and device company focused on the needle-free administration of solid dose formulations, today announced the successful completion of a funding round totalling £3.2 million ($4.0 million). The fundraising was supported by a number of existing investors.
Glide Technologies will use the funds to complete Phase I clinical trials of its novel solid dose formulation of teriparatide (parathyroid hormone) during 2017. These trials follow Glide's successful teriparatide SDI® pre-clinical proof-of-concept study, in which the company's solid dose formulation achieved a statistically similar pharmacokinetic profile to the most widely used clinical dose of the marketed liquid product, Forteo®/Forsteo®. Teriparatide is approved for use in the treatment of osteoporosis and accounts for global sales of over $1.3 billion.
James Otter, Glide Technologies' Interim CEO, commented, "This new fundraising follows Glide's successful octreotide clinical study last year and enables us to progress the clinical development of our pipeline as we move towards our goal of creating a patient-centric delivery platform integrating formulation science and device engineering."
About Glide Technologies
Glide Technologies is a pharmaceutical development and device company focused on solid dose formulation of therapeutics and vaccines. The company's products are based on its proprietary needle-free injector, the Glide SDI®. This combination provides room temperature stability, removing the need for product refrigeration and cold chain distribution, and the potential of improved compliance in long-term therapy and enhanced immune responses to vaccines. Glide's pipeline includes octreotide, teriparatide, exenatide and anthrax and influenza vaccines.
The company has a strong management team with extensive experience of the pharmaceutical, biotechnology and medical device sectors. Glide Technologies has successfully completed six investment rounds, and is supported by a consortium of institutional and private technology investors, including Invesco Perpetual, Oxford Technology Venture Capital Trusts, Oxford Capital Partners and Hygea VCT. For more information please visit http://www.glide-technologies.com
Source: Glide Technologies
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