The new entity – MidaSol Therapeutics – will seek to commercialise diabetes treatments combining the respective parent firms' delivery technologies through the formation of licensing or partnering deals with pharmaceutical developers.
MidaSol’s most advanced candidate – MidaForm insulin – comprises insulin-passivated gold glyconanoparticles that have been formulated for delivery with MonoSol’s buccal technology PharmaFilm.
The product is currently being examined in a Phase I trial - a single, ascending dose, double blind study in 27 male volunteers using a eu-glycemic clamp – at a clinical near Basel, Switzerland with results expected in the next few months.
Commenting on the joint venture, Midatech chairman Tom Rademacher, said: "The launch of MidaSol Therapeutics LP represents a significant step forward for the commercialization of MidaForm insulin, MidaForm GLP-1 and MidaForm insulin/GLP-1 containing formulations.
“We, in collaboration with partners in the pharmaceutical industry, aim to provide diabetic patients and their physicians with efficient diabetes treatments that promote compliance while improving clinical outcomes and quality of life."
This was echoed by MonoSol CEO Mark Schobel, who explained that the JV "is designed to accelerate the commercialization of the innovative insulin, GLP-1 and insulin/GLP-1 products for the treatment of diabetes
MonoSol and Midatech have worked on drug delivery technologies for several years – in 2008 they partnered on the development of a nanoparticle film system capable of administering low-doses medications.
This collaboration was extended in June 2010 to include the delivery of nanoparticle-based proteins and peptides using MonoSol’s film platform with the firms filing a joint patent application for the technology with the US Patent and Trademark Office (USPTO) the following month.
Midatech was unavailable for comment at the time of publication.