 |
|
|
|
|
|
|
 Contact |  Print version |  PDF version |  Send article |  RSS feed
Vectura and Unilever Ventures announce the spin out of specialty pharmaceutical company Pharmakodex17 May 2006 -
Vectura Group plc and Unilever Ventures Ltd announced that they have jointly established a new speciality pharmaceutical company, PharmaKodex Ltd ("PharmaKodex"), to develop a pipeline of pharmaceutical prescription (Rx) and consumer health (OTC) products utilising a range of proprietary oral and transdermal and enabling technologies from Vectura and Unilever.
PharmaKodex is developing a pipeline of improved medicinal products, focusing on re-purposing existing drugs for new indications or combinations, or to provide an improved route of administration. The PharmaKodex development pipeline currently comprises 7 prescription products and 6 OTC products. PharmaKodex has initiated operations with a strong management team. Chief Executive Officer, Mr Rod Richards, held senior management roles in business and commercial development at Glaxo and SmithKline Beecham, and most recently was CEO at Microscience PLC where he led the business from start up to a successful trade sale in 2005. Prof. John Staniforth, currently Chief Scientific Officer at Vectura, will move to PharmaKodex whilst maintaining a scientific advisory role at Vectura. Vectura and Unilever Ventures will each retain a significant shareholding in PharmaKodex. Further equity financing will come from specialist venture capital investors.
|
|
|
|
|
Top