West Pharmaceutical Services, Inc. and Beaufor Ipsen, S.A. Enter Early-Stage Product Development Agreement
LIONVILLE, Pa., March 2 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST) announced today that it has entered into a product development agreement with Beaufor Ipsen, S.A., a privately held French Pharmaceutical Group. The agreement involves the application of West's patented nasal drug delivery technology to a proprietary Beaufor compound for the treatment of osteoporosis.
Under the terms of the agreement, West will develop formulations for clinical trials in human volunteers in the United Kingdom. Upon the completion of certain performance criteria agreed upon by both companies, the agreement would then permit product development with associated commercial milestones.
Dr. J. P. Moreau, President, Research and Development, Beaufor Ipsen, stated "We look forward to a fruitful collaboration with West Pharmaceutical Services exploring this promising opportunity in novel peptide drug delivery."
"The characteristics of the Beaufor Ipsen active molecule lend themselves superbly to our nasal delivery technology" said Dr. Donald E. Morel, Division President, Drug Delivery Development, West. "In related studies, our formulations have achieved high relative bioavailabilities for similar chemical entities. We are confident that we can achieve the objectives of this program and move steadily through to development of the product."
Earlier this year, West announced that its Investigational New Drug (IND) applications for nasal formulations of morphine and leuprolide passed the Food and Drug Administration's (FDA) 30 day comment period, clearing the way for the beginning of U.S. Phase I clinical trials. The first formulation, for nasally delivered morphine, entered Phase I clinical studies in February. The second formulation, for nasally delivered leuprolide, will enter Phase I clinical trials during the second quarter. West has previously successfully completed dosing trials in healthy human volunteers in England for both formulations.
West Pharmaceutical Services applies value-added technologies to the process of bringing new drug therapies and healthcare products to global markets. West's technologies include the design and manufacture of packaging components for pharmaceutical, healthcare and consumer products; research and development of drug delivery systems; contract laboratory services; clinical services; and other services that support the manufacturing, filling and packaging of pharmaceutical and healthcare products. For more information, visit the West Pharmaceutical Services website at http://www.westpharma.com. SOURCE West Pharmaceutical Services, Inc.
CONTACT: Stephen M. Heumann, Vice President and Treasurer of West Pharmaceutical Services, 610-594-3346; Investor Relations: Robert P. Jones, Dory Lombardo, or Press: Stacey Nield, all of Morgen-Walke Associates, 212-850-5600, for West Pharmaceutical Services/