In the Medical Technology Blog today’s post is and article taken from Espicom’s business publication Drug Delivery Insight, provided by DDI’s editor, Sophie Bracken, please read on…
A new international pharma company has been launched, the result of a three-year Anglo/Russian project by London, UK’s Celtic Pharma. The company, Pro Bono Bio, has big growth targets that, if attained, could to allow it to combine global pharma expertise from within the UK together with international capital and funding from the Russian Corporation of Nanotechnologies (RUSNANO).
Pro Bono Bio has decided on a clear humanitarian approach to its business, namely that its products will be priced in different geographic areas based on the region’s ability to pay. Backed by company’s shareholders, the business model includes the provision of free drug donations to Africa, based product sales at normal prices in the Western European pharma market.
The UK’s Prime Minister, David Cameron believes that the Pro Bono project is “a great example of UK/Russia collaboration at the cutting edge of R&D, demonstrating how British business can work together with their Russian counterparts to expand into new areas, creating jobs and prosperity in the UK”.
As well as keeping busy with its humanitarian focus, Pro Bono has released its first prescription medicine in the UK known as Flexiseq. The latter is a nanotechnology-based osteoarthritis treatment, and the first in a pipeline of products under development. The company has plans to roll out a further two more products in the UK – Exoseq and Possoseq – over the coming months. The products are designed for the treatment of inflammatory skin disorders, including psoriasis and eczema. Like Flexiseq, they are based on Pro Bono’s Sequessome technology, which physically absorbs and removes chemicals that are a key component in the pain and inflammation cascade. Sequessomes were invented and developed by Pro Bono with the help of external partners, and the technology is protected by a number of worldwide patents.
Other products that Pro Bono has in the pipeline include blood factors for the treatment of haemophilia, and novel antibiotics for the treatment of serious infections like C. difficile, MRSA and tuberculosis. Pro Bono has big plans to develop and market these products by exploiting its management team’s so-called “Big Pharma” experience – expertise from the likes of the company’s CEO, John Mayo.
First off, Pro Bono will focus on marketing Flexiseq and other Sequessome Technology-based products in Western, Central and Eastern Europe as well as the CIS. The company’s commercial and manufacturing model is based on collaborations with specialist service partners. The outsourced sales model will eventually be bolstered by selective full ownership of the salesforce in certain territories. Also, products will initially be sourced from European and Russian manufacturers’ approved facilities.
In the mid-term, Pro Bono will support the plans by building – with RUSNANO’s support – a state-of-the-art pharma plant close to Moscow, with a further plant in the UK, in order to comply with EU regulations.
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