30th Jan 2012 07:00
Oxford Pharmascience Group plc
("Oxford Pharmascience" or "the Company")
Appointment of Business Development Partner
Oxford Pharmascience, the specialty pharmaceutical company that uses advanced pharmaceutic technologies to reformulate medicines, announces the appointment of Partner International Incorporated ("Partner International") as a business development partner. Partner International is an established supplier of outsourced corporate and business development services.
Under the terms of the appointment, Partner International will focus on accelerating the commercial licensing of Oxford Pharmascience's OxpZero™ taste masking technology for the ibuprofen sector and other NSAIDs and assist them to identify the next range of API's with greatest commercial interest for licensing.
Partner International provides corporate and business development services to small, medium, and large-sized life sciences organisations worldwide. With offices in the United States, Europe, and Canada and with over 60 exclusive associates globally, Partner International is ideally placed to accelerate the commercialisation of the OxpZero™ platform technology.
Nigel Theobald, Chief Executive, Oxford Pharmascience Group Plc, commented: "Our model of outsourcing specific activities to high quality partners is core to us and Partner International fits this model perfectly. With significant experience and proven success in North America as well as Europe they are ideally placed to accelerate the licensing of our taste masking technology."
Joanne Ball-Gautschi, CEO of Partner International, "We are very pleased to be representing Oxford Pharmascience in its global partnering initiatives. Oxford Pharmascience's OxpZero technology, is a truly innovative approach to taste masking, and could be a key solution for product improvements, line extensions and product life cycle management. We anticipate a high level of interest for this novel technology."
For further information:
Oxford Pharmascience Group Plc
Nigel Theobald, Chief Executive +44 1865 854874
Hybridan LLP (Broker)
Claire Noyce / Tim Goodman / Deepak Reddy +44 20 7947 4350
ZAI Corporate Finance (Nominated Adviser)
John Depasquale/ John Treacy +44 20 7060 2220
About Oxford Pharmascience Group Plc
OXP Group Plc develops advanced yet practical pharmaceutical technologies to enable reformulation that adds value to off patent and soon to be off patent drugs. The Company does not manufacture or sell its own pharmaceutical products but instead seeks to license its technologies to a network of partners, mainly leading pharmaceutical companies with Rx (prescription) and OTC (Over the Counter) branded portfolios. These partners use our technologies to reposition their products helping them sustain market share and profitability by delivering improved health outcomes and/or clinical profiles via reformulated versions of the same API (active pharmaceutical ingredient).
OXP develops platform technologies that have application across multiple drug categories and can be leveraged across a broad range of reformulation problems. This business model allows us to provide solutions across the industry and fund the ongoing development of cutting edge technologies to better serve the needs of our partners. The partner companies who adopt our technology pay an up-front license fee followed by development milestone payments and then royalties on finished products sold using the technology. OXP invests the upfront licence fee to optimise product development and to ensure seamless technology transfer to the pharmaceutical partner.
About Partner International Inc.
Partner International is a leading full service business development company, with offices globally, focused on accelerating transactions in the life sciences industry. Partner International is specialized in search and evaluation, in and out licensing, partnering, mergers and acquisitions, divestitures, raising capital, and due diligence support. With offices in the United States, Europe, Japan, and Canada, and associates in other regions, Partner International is strategically positioned to represent clients globally, through our vast network within the industry. Partner International has built a significant reputation and track record in the life sciences sector as a company focused on deliverables for clients.
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