READING, England and BEDMINSTER, New Jersey, August 23, 2010 /PRNewswire/ -- Archimedes Pharma, an emerging specialty pharma company focused on oncology, pain, neurology and critical care sectors, announced today the location of its new US headquarters in Bedminster, New Jersey.
Archimedes has offices in a number of European countries and markets a range of therapeutics in Europe. The opening of its US office marks the continued expansion of the company's global commercial presence. The New Jersey location will provide Archimedes access to the deep resource pool of New Jersey-based specialty pharma professionals. Archimedes will add a significant number of positions this year, including sales marketing, regulatory, finance, human resources and medical affairs.
The New Jersey Economic Development Authority awarded a Business Employment Incentive Program (BEIP) grant for Archimedes Pharma US to create up to 75 new jobs. BEIP grants are available to businesses looking to expand or relocate while creating job growth in New Jersey.
Jeffrey H. Buchalter, President and CEO of Archimedes Pharma, reaffirmed Archimedes' commitment to New Jersey and said, The new US headquarters in Bedminster is a significant milestone in Archimedes' development as an emerging global specialty pharmaceutical company. With Archimedes' rapidly growing and diverse drug delivery technologies and products portfolio, we are in the process of establishing our own US organization and are actively recruiting top-tier senior-level management positions to support market penetration across the USA and globally. The BEIP grant awarded to us by the state was the deciding factor when choosing a US location. We're committed to New Jersey and growth of the pharmaceutical business here.
Archimedes' lead product, PecFent(R), an innovative fentanyl nasal spray for the treatment of breakthrough cancer pain, received a Positive Opinion from the Committee for Human Medicinal Products (CHMP) of the European Medicines Agency (EMA) in June 2010. A New Drug Application (NDA) for the drug was submitted to the US Food and Drug Administration (FDA) in August 2009; discussions with the FDA are ongoing.
About Archimedes Pharma
Archimedes Pharma is a specialty pharmaceutical company marketing and selling an expanding portfolio of specialist products to hospital-based prescribers in major European territories.
Focused on the oncology, pain, neurology and critical care sectors, Archimedes currently markets multiple therapeutics in the UK, France, Germany and Ireland. The company is expanding its commercial presence in Spain and the US.
Products currently marketed in Europe by Archimedes include: Gliadel, a biodegradable wafer impregnated with carmustine for high-grade glioma; Zomorph, an oral sustained release morphine product for moderate to severe pain, particularly cancer pain; Oramorph, a liquid immediate release morphine product also indicated for moderate to severe pain; Apomorphine Injection for motor fluctuations in advanced Parkinson's disease; and Pabrinex, a high potency vitamin formulation used to treat the symptoms of malnutrition especially in patients with alcohol misuse problems.
Archimedes is also developing a robust, high-value pipeline of in-house pain therapeutics, Parkinson's disease and critical care. It applies its world-class drug delivery technologies to proven molecules that have yet to achieve their market potential due to their current mode of delivery. This approach reduces the company's development risk, while delivering significant clinical and commercial benefits.
Archimedes' lead product is PecFent, an innovative and highly differentiated fentanyl citrate nasal spray, which has been granted a Positive Opinion by the CHMP for the treatment of breakthrough cancer pain.
PecFent is an aqueous fentanyl citrate solution utilizing Archimedes' proprietary PecSys(TM) technology. The PecFent solution has a low viscosity and is easily delivered in a low volume of 100mcl using a nasal spray pump. The pump produces a fine mist of similarly sized spray droplets that are deposited into the front of the nostril. The calcium ions present on the nasal mucosa cause the pectin to form a thin gel layer, which allows fentanyl to be retained on the nasal mucosa, allowing a rapid but controlled absorption into the systemic circulation. The PecSys(TM) technology avoids problems associated with simple solutions used in nasal sprays, such as dripping or swallowing of the drug solution.
Archimedes' technologies - ChiSys(R), PecSys(TM) and TARGIT(R) - are also used in a number of partnered products in late-stage clinical development. ChiSys, an innovative drug delivery technology that enhances the residence time of molecules on mucosal membranes, has proven potential for vaccine delivery. Pre-clinical and clinical studies of nasally administered vaccines have demonstrated enhanced immune response. PecSys(TM) is Archimedes' patented drug delivery system built around its novel pectin technology, designed to maximize the potential of systemically absorbed drugs by enhancing drug performance and improving patient acceptance.
About Breakthrough Cancer Pain (BTCP)
Breakthrough cancer pain affects up to 95% of all cancer patients with pain and is characterized by sudden, unpredictable episodes of intense pain that occur despite background pain medication. This pain is rapid in onset, usually reaching maximum intensity in five minutes and lasting for 30 to 60 minutes.
For more information, please visit: http://www.archimedespharma.com.
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SOURCE: Archimedes Pharma
CONTACT: Tamara Bright, firstname.lastname@example.org, or AndrewMielach, email@example.com, +1-212-827-0020, both ofTiberend Strategic Advisors, Inc. (USA); Chris Gardner,firstname.lastname@example.org, or Amber Bielecka,email@example.com, +44-207-638-9571, both of Citigate DeweRogerson (UK and Europe)