DisperSol Technologies Secures over $10 million in Financing Led by RCT
Innovative Drug Development Technology Company Experiences Rapid Growth with Enhanced Bioavailability and Abuse Deterrent Drug Products
Georgetown, TX, February 3, 2015 — DisperSol Technologies, LLC, has secured financing to expand its drug formulation and GMP manufacturing capabilities for its partnerships with the pharmaceutical industry. The financing also enables DisperSol to develop its own portfolio of proprietary drug products with significantly improved bioavailability profiles through the 505(b)(2) regulatory pathway. Research Corporation Technologies led the last round of financing with participation from DisperSol’s existing investors.
DisperSol Technologies utilizes an enabling processing technology called KinetiSol® to develop insoluble drug products in areas where existing technologies fall short.
KinetiSol® can process pharmaceutical materials other existing technologies cannot and therefore create drug compositions that otherwise would be abandoned. It offers performance enhancement and lower manufacturing costs versus existing technologies, such as spray drying. The wider range of pharmaceutically acceptable material processable by KinetiSol® also allows it to inherently meet the abuse deterrence requirements for pain relief drugs.
DisperSol has successfully completed numerous development programs with pharmaceutical companies to enhance the bioavailability of their most challenging molecules, and recently began developing its own portfolio of 505(b)(2) drug products. A distinguishing feature of the KinetiSol® process is its efficiency, allowing for most feasibility and manufacturing projects to be completed in just a few weeks.
“We are very impressed with DisperSol’s capabilities and game changing platform,” said Shaun Kirkpatrick, President, Biotechnologies, Research Corporation Technologies. “KinetiSol®’s success in enhancing the bioavailability of temperature-sensitive and organic solvent insoluble drugs uniquely fills a growing market need. Importantly, the technology has been proven at commercial scale, and we have not seen any other manufacturing method in the field with KinetiSol®’s cost advantages coupled to the competitive advantages of new intellectual property for each new formulation. We are looking forward to partnering with DisperSol’s management team as they develop new products and expand the adoption of this unique technology throughout the pharmaceutical industry.”
According to Gershon Yaniv, PhD, MBA, DisperSol CEO, “We are very happy to welcome Research Corporation Technologies as an investor. Beyond the financial contribution to our growth plans, they bring significant pharmaceutical industry experience. In addition to Shaun Kirkpatrick, we added James Mack, former CEO and Chairman of Cambrex Corp, and James Dennis, former President of Biosense Webster, a Johnson and Johnson Company, to our Board of Directors with the close of the financing. While we are still a young company, we have assembled a talented and experienced team, and this round of funding allows us to grow our drug development and GMP manufacturing at an accelerated rate and meet our objectives.”
DisperSol is an innovator in the formulation development and manufacture of pharmaceutical drugs. DisperSol’s KinetiSol® technology has enabled the solubility enhancement of heat-sensitive and organic solvent insoluble drugs of significant clinical promise that would otherwise have no development path forward to the patients that could benefit from them. KinetiSol® is a highly efficient, cost-effective process that generates new patent protection for both existing chemical entities on the market and new chemical entities in development by the pharmaceutical industry.
DisperSol commercializes the KinetiSol® platform through a combination of external partnerships and internal drug development programs. For more information visit www.dispersoltech.com.
Vice President, Business Development & Marketing