Uppsala 1stAugust 2018
Nanexa signs collaboration agreement with European animal health company
Nanexa has signed a collaboration agreement with the company ViroVet in Belgium to evaluate PharmaShell® together with one of their new drug substances for the treatment of a virus-related disease in cattle.
ViroVet is a company which is active in the development of new effective treatments and vaccines for various viral diseases in cattle. The collaboration that is currently underway aims at evaluating Nanexa’s drug delivery platform PharmaShell® to improve one of ViroVet’s new substances for the treatment of a respiratory disease in cattles caused by a virus. Their goal is to create an efficient and long-acting pharmaceutical product that also minimizes animal handling.
The global animal health market is valued at USD 42.2 billion with annual growth of 5.5%. This market includes both livestocks and pets where the majority (about 2/3) are related to cattle. *
The agreement now signed is a one-year collaboration agreement, where Nanexa coats ViroVet’s drug particles and ViroVet evaluates these formulations in relevant animal models. Each party will bear its costs at this initial stage.
Nanexa’s CEO David Westberg comments:
I am of course very pleased with this agreement, which gives us the opportunity to collaborate in an expansive market with a very interesting company. It can open another interesting market for us, alongside the licensing of PharmaShell® technology to pharmaceutical companies and the development of our own product project.
An advantage with developing animal medicines is that development time is shorter than for human use, which means that product-to-market sales can take place earlier.
*Grand View Research, June 2018.
For further information:
Nanexa AB (publ)
David Westberg, VD
Phone: +46 709 42 83 03
E mail: firstname.lastname@example.org
About Nanexa AB (publ)
Nanexa AB is a nanotechnology drug delivery company focusing on the development of PharmaShell®, which is a new and groundbreaking drug delivery system that is expected to have great potential in a number of medical indications. Within the framework of PharmaShell®, Nanexa has partnership agreements with among others, AstraZeneca.