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Frost & Sullivan has presented Transport Pharmaceuticals, Inc. with the 2007 North American Technology Innovation of the Year Award in electrokinesis-enabled drug delivery in recognition of its development of a unique platform technology that enhances the delivery of topically applied drugs and the utility of potent systematically delivered drugs.
"Founded in 1999, this privately held, venture-backed specialty pharmaceutical company based in Massachusetts is revolutionizing the treatment of dermal diseases by bringing together cutting-edge medical electronics with advanced drug formulation and material sciences to develop combination drug-device products," stated Frost & Sullivan Industry Analyst Pramodh Ishwarakrishnan.
Transport Pharmaceuticals' lead product, the SoloVir™ Electrokinetic Transdermal System (SoloVir™ ETS), represents a significant breakthrough in the treatment of herpes labialis or cold sores by enabling drug delivery via a small handheld device and a unit dose disposable medication applicator.
Using a small wireless reusable microprocessor-controlled drug delivery unit that fits onto a finger, and a pre-filled drug reservoir cartridge, this combination drug/device system allows patients to self-administer a drug for a variety of indications.
The system is capable of delivering 100 times more acyclovir (a leading topical antiviral drug) directly into the skin area than currently available treatment options, and requires only one painless, ten-minute treatment application.
"Capitalizing on electrokinetic drug delivery, the SoloVir™ ETS eliminates the concomitant problems of pain, trauma, and the risk of patient infection," says Ishwarakrishnan. "Human trials have been performed for SoloVir™ ETS and the technology has been validated in several U.S. clinical trials in over 1000 patients."
Patent applications have been filed for the SoloVir™ ETS, including the company's novel acyclovir formulation, the device and the drug cartridge. Sixty-five applications of the technology are under review and the company, to date, has been granted 13 U.S. patents and 11 international patents.
Transport Pharmaceuticals, Inc. outsources manufacturing of the drug and the device but ensures quality through its in-house engineering, regulatory and quality affairs groups who work closely with vendors to integrate their processes into Transport's quality systems. The business model provides the flexibility and the necessary cost savings of a "virtual" model and helps ensure the timely and quality performance by vendors.
The company has also had considerable success in attracting venture capital investment, a fact that positively reflects on the promise of the company's technology. It has raised a total of $36 million from highly regarded VC's, such as the Carlyle Group, Quaker Bioventures and the Hillman Company.
Each year, Frost & Sullivan's Technology Innovation of the Year Award is bestowed upon a company that has carried out new research, which has resulted in innovations that are expected to bring significant contributions to the industry in terms of adoption, change, and competitive.
posture. This Award recognizes the quality and depth of a company's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavor.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Transport Pharmaceuticals, Inc.
Transport is a specialty pharmaceutical company revolutionizing the treatment of dermal diseases by bringing together cutting edge medical electronics, drug formulation and materials science to develop novel drug/device combination products. This unique combination of technologies can enhance the delivery of topically applied drugs and the utility of potent systemically delivered drugs whose uses are limited by bio-availability, toxicity or side effect concerns.
About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
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