Mission Pharmacal Acquires ProSolus Pharmaceuticals
Acquisition adds cutting-edge expertise in transdermal drug development and manufacturing.
SAN ANTONIO, June 9, 2015 /PRNewswire/ -- Effective May 29, 2015, Mission Pharmacal Company ("Mission") has acquired the assets of ProSolus Pharmaceuticals LP headquartered in Miami, Fla. Mission's wholly-owned subsidiary, ProSolus Inc., offers unrivaled expertise in the development and manufacturing of sophisticated and convenient transdermal (through the skin) drug delivery products to treat a variety of health conditions.
"ProSolus is the new jewel in Mission's crown as a manufacturing supplier," says Pete Valko, Chief Operating Officer of ProSolus Inc., who is adding this to his responsibilities as Chief Operating Officer of BioComp Pharma. "To expand Mission's offerings, ProSolus brings high-barrier-to-entry transdermal solutions and a top-notch manufacturing facility with its own research and development arms. Mission's goal is to deliver this exceptional science and skill into customers' hands through innovative and convenient products."
ProSolus will operate with former ProSolus CEO Juan Mantelle continuing in executive leadership to oversee research and development as Chief Scientific Officer. ProSolus enables Mission to offer the latest highly effective transdermal patches in a wide variety of therapeutic categories.
ProSolus will complement and work in tandem with the Mission family of companies. This includes wholly-owned subsidiaries BioComp Pharma, a generic drug company formed in 2009, and Alamo Pharma Services, a specialized contract sales company founded in 2011.
This acquisition fits with Mission's mantra to improve patient access to products that significantly improve quality and enjoyment of life. Few therapies on the market today are as effective or easy to use as noninvasive, comfortable transdermal patches.
"Juan Mantelle and the ProSolus team excel in the design aspects of transdermal products. It's really an art more than a science," says Terry Herring, President, Commercial Operations, Mission Pharmacal. "They have significantly improved the wearability of transdermal patches, creating more desirable, smaller sizes that stay in place while working effectively. This design strength combined with state-of-the-art manufacturing capabilities gives us vast potential to quickly deliver patient-friendly transdermal solutions."
In fact, about five years ago, Mission began a successful partnership with ProSolus and Richmar Corporation to produce the LidoFlex™ Pain Relief Patch. This patch conveniently delivers a 4% concentration of lidocaine, the highest available without a prescription, to provide targeted pain relief. The LidoFlex line includes assorted, extremity-specific sizes and shapes to provide localized pain relief without systemic or habit-forming medications. The long-lasting patches can be worn while exercising, bathing, or swimming for consistent relief. The LidoFlex trademark designated herein is proprietary to Naimco, Inc., its affiliates and licensors.
Aggressive development of unique partnerships such as this one has led to Mission's significant and substantial growth and rapid diversification in recent years. The expansion into transdermal delivery through the ProSolus acquisition continues to build on Mission's founding principle of finding ways to solve unmet healthcare needs with novel solutions.
The Mission Pharmacal family of companies offers complete pharmaceutical manufacturing, printing, packaging, distribution, and sales services to other biotech and pharmaceutical companies tailored as required for partner company needs. For more information or to contact a Mission team member, please visit missionpharmacal.com, prosoluspharma.com, biocomppharma.com, or alamopharma.com.
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SOURCE Mission Pharmacal Company