Recipharm and Pharmanest form collaboration for commercial manufacture and supply of SHACT
03 July 2014: Recipharm Karlskoga AB, specialized in the manufacture of semi-solid products, and Pharmanest AB, a Stockholm-based pharmaceutical company specializing in developing products for local pain relief in obstetrics and gynecology, are pleased to announce the formation of a new pharmaceutical manufacturing contract for SHACT.
Every year, millions of women around the world experience pain and discomfort during IUD insertion (intrauterine contraception). There are few treatment options with proven efficacy and safety available to these women. SHACT is a product based on an innovative formulation of lidocaine, a well-known anesthetic, and a proprietary application device developed to simplify topical application in the cervix and uterus. SHACT has demonstrated convincing Phase II efficacy data as local anesthesia in connection with IUD insertion and also recently reported positive data from a hysteroscopy study.
Recipharm and Pharmanest have reached a milestone in their existing collaboration and Pharmanest is now preparing its candidate SHACT for launch. Additionally, the companies have reached a long term agreement for commercial manufacturing, with the precise product launch date to be announced later. Jointly, the two companies will offer commercial supply to any market that Pharmanest determine to enter for supply and sales of their first pharmaceutical product SHACT.
Ingela Palmkvist, General Manager at Recipharm in Karlskoga, commented: "I really look forward to closely following the introduction of this product to various markets. Indeed, I believe it will make a highly significant difference to patients."
Gunilla Lundmark, CEO at Pharmanest said: "I am very pleased that Pharmanest and Recipharm have entered into this new collaboration following the product development success achieved to date. Given the strong clinical data we are now rapidly moving toward commercialization. We look forward to working closely with Recipharm for the commercial manufacture of the product and, indeed, to pooling our respective skills and capabilities to supply the pharmaceutical product to key target markets."
For more information contact:
Ingela Palmkvist, General Manager Recipharm Karlskoga AB
E-mail: [email protected]
Gunilla Lundmark, CEO Pharmanest AB
E-mail: [email protected]
Recipharm is a leading CDMO (Contract Development and Manufacturing Organisation) in the pharmaceutical industry based in Sweden employing some 1,500 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and pharmaceutical product development. Recipharm currently manufactures more than 200 different products to both Big Pharma and smaller research- and development companies. Recipharm's turnover is approximately SEK 2.1 billion and the Company operates development and manufacturing facilities in Sweden, France, the UK, Germany and Spain and is headquartered in Jordbro, Sweden. The Recipharm B-share (RECI B) is listed on Nasdaq OMX Stockholm.
For more information on Recipharm and our services, please visit www.recipharm.com.
About Pharmanest AB
Pharmanest is a Stockholm-based pharmaceutical company specializing in developing products for local anaesthesia in gynecology and obstetrics. For more information, please visit www.pharmanest.se.
SHACT is a proprietary 4 % lidocaine formulation developed by Pharmanest, and patent applications are pending worldwide. SHACT is applied topically in the cervix and uterus with a device developed by Pharmanest. SHACT is thermogelling and becomes a gel at body temperature, which minimizes the leakage from the site of application. SHACT has a rapid onset of action and is easy to apply for healthcare professionals. For more information on Pharmanest and our services, please visit www.pharmanest.se.
Recipharm AB (publ)
Corporate identity number 556498-4825
Address Lagervägen 7, SE-136 50 JordbroTelephone 46 8 602 52 00
Fax 46 8 81 87 03, www.recipharm.com