TEAMM Pharmaceuticals Announces Acquisition of a New Drug Delivery Technology

TEAMM Acquires Patent Pending Sustained Release Technology for Application in Multiple Delivery Platforms, to Further Enhance Its Development Pipeline

27-Oct-2003
EAMM Pharmaceuticals, Inc. ("TEAMM"), a specialty pharmaceutical company, and wholly owned subsidiary of Accentia, Inc. ("Accentia" or the "Company"), based in Tampa, Florida, announces the recent acquisition of worldwide rights for an extended release drug delivery technology. The process utilizes aqueous (non-organic) solvents in contrast to other controlled release technologies that utilize organic solvents, providing ease of manufacturing. The technology is flexible enough to be applied to multiple delivery platforms. TEAMM did not disclose the terms of the transaction, however indicated that this novel technology is applicable to numerous targeted therapeutics. TEAMM also noted that it expects to begin filing ANDA and NDA applications for product approvals utilizing this newly acquired technology. TEAMM also plans to make the technology available to other companies seeking to further enhance their product lines or to form strategic alliances. TEAMM, along with its parent, Accentia Inc., is executing their plan as outlined in the recent merger of the two companies. "We are very excited to have acquired this technology platform. This is evidence of our commitment to licensing and internally developing a robust pipeline for the future of the company. Along with our established business partnerships, we will further the company's market position and achieve our growth objectives," stated Martin G. Baum, President and CEO of TEAMM. "This acquisition demonstrates the goal of TEAMM to identify and capitalize on new product opportunities that will deliver value for TEAMM and Accentia. Accentia along with its affiliations, significant experience and a portfolio of bio-pharmaceutical advancements, is expanding its position within the bio-pharmaceutical space," said Frank E. O'Donnell, Jr., MD, Chairman of Accentia and Managing Director of The Hopkins Capital Group. Further information is available at: http://www.accentia.net/. The Company plans to continue to identify and seek additional acquisitions of products, leading-edge technologies and strategic companies to achieve its growth objectives. With Accentia's unique approach, the Company's goal is to be a leader in the area of targeted bio-pharmaceuticals.

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Biopharmaceutical production plays a crucial role in the development and manufacture of biologics, which are essential for the treatment of various serious diseases. Various key technologies and processes of the modern biopharmaceutical industry are used, such as cell cultures, fermentation processes and the purification of biological substances, which are necessary for the production of vaccines, monoclonal antibodies and other biological drugs.

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Topic world biopharmaceutical manufacturing

Biopharmaceutical production plays a crucial role in the development and manufacture of biologics, which are essential for the treatment of various serious diseases. Various key technologies and processes of the modern biopharmaceutical industry are used, such as cell cultures, fermentation processes and the purification of biological substances, which are necessary for the production of vaccines, monoclonal antibodies and other biological drugs.

20+ products
15+ brochures