Tue 17th Jun 2014 Development Agreement

 

Bespak and SteadyMed Therapeutics Enter Into Development Agreement

Bespak Europe Ltd (“Bespak”) and SteadyMed Therapeutics Inc. (SteadyMed) announce that they have entered into an agreement for the development of the device elements of SteadyMed’s lead product Trevyent.

Trevyent is a late development-stage drug product that uses SteadyMed’s PatchPump┬« to administer treprostinil, a vasodilatory prostacyclin analogue, to treat the orphan disease Pulmonary Arterial Hypertension. Unlike the current infusion systems used to deliver treprostinil, Trevyent will come to the patient pre-programmed with the correct dose delivery rate and pre-filled with sterile drug in a small, discreet, disposable and water resistant wearable device.

Bespak’s Cambridge, UK, based Innovation Team have been working with SteadyMed to develop its novel PatchPump infusion device, for the parenteral delivery of treprostinil. This new agreement between Bespak and SteadyMed provides for the further development of the device and its manufacturing process.

The agreement, the financial details of which are confidential, adds to Bespak’s Development pipeline, and helps to significantly advance SteadyMed’s Trevyent development programme for which a New Drug Application is planned to be filed with the U.S. Food and Drug Administration during the second half of 2015.

Keyvan Djamarani, Bespa.s Managing Director commented: “We are delighted to have entered into this agreement with SteadyMed. This collaboration takes Bespak into an interesting therapeutic area and parenteral drug delivery technology, and we are pleased with the latest success of our Innovation Team. This programme further strengthens our presence in the growing Injectable therapeutics sector.”

Jonathan M.N. Rigby, SteadyMed’s President and Chief Executive Officer, further commented: “As a company rapidly approaching final design for industrialisation of our Trevyent product and significant regulatory milestones, it is critical that we select the very best contract manufacturing partners in the industry. That is why we chose Bespak. We are very pleased to be working with them in this partnership.”