Consort Medical plc
Bespak wins second nasal development contract
Consort Medical plc (LSE: CSRT), today announces that its Bespak Division has been awarded a development contract to deliver a nasal drug delivery device for a major global manufacturer of generic medicines. This is Bespak’s second nasal drug delivery device contract.
Under the terms of the contract, Bespak will develop its Unidose nasal drug delivery device for an undisclosed application.For the first time, Bespak will also fill the device with packaged drug once it goes into production.The device is intended to launch in 2015.
Consort Medical’s Bespak Division is a world leader in drug delivery devices.In 2010 it established an Innovations Centre in Cambridge, tasked with diversifying Bespak’s core competencies of design for manufacture and high volume manufacture of medical devices into adjacent market areas.This is Bespak’s second contract award in the nasal drug device market, which has been driven from the Innovations Centre.
Jon Glenn, CEO of Consort Medical, said: “Our Cambridge Innovations Centre is clearly delivering a portfolio of products that leverages our competencies and our technology in adjacent market spaces. This is the second nasal development contract that Bespak has been awarded, and successfully demonstrates our strategy to diversify into new drug delivery markets. In addition, we are moving up the value chain by adding drug filling to our list of competencies.”