Tampa, FL-based CRO Xcelience will partner with Penn Pharma in a joint venture that will help the company enter the Europe and Asia Pacific markets. Xcelience will work with Penn on Xcelodose technology at the latter's office in South Wales, which is closer to the clinical sites used by pharma and biotech firms that are doing trials in Europe, the Tampa Bay Business Journal notes.
Xcelience uses Xcelodose to manufacture small doses of drugs in development. Xcelodose is a Capsugel technology system that allows companies to fill capsules with drug substances alone, the Journal reports, thus shortening development process. Capsugel is a division of Pfizer (NYSE: PFE).
"Xcelience has more than six years experience in powder in capsule technology and has processed more than 100 clinical supply batches using the Xcelodose technology," says Paul Wituschek, global sales & marketing director of Penn, in the statement. "Penn will be able to immediately leverage this expertise to provide this important accelerated development option to our clients."
No financial terms have been released, but Xcelience President and CEO Derek Hennecke tells the Journal that Penn Pharma would provide the location and Xcelience would bring the capital and equipment.
- read the release
- check out the Tampa Bay Business Journal article