XSpray receives innovation grant for nanoparticle technology
Stockholm - Sweden – December 06, 2010. XSpray Microparticles announced today that it has received a grant of SEK 2.3 million from Vinnova, the Swedish Agency for Innovation Systems. The grant will be used to expand the company’s RightSize™ nanoparticle technology for the development of innovative pharmaceutical formulations.
XSpray was chosen from among more than 250 companies that had applied for funding from Vinnova’s ‘Research&Grow’ program. The program awarded grants to 42 companies – less than ten of which are from the life science sector – as part of its second round of funding for 2010. XSpray’s grant of SEK 2.3 million was the fifth highest grant to be awarded during this round.
XSpray’s RightSize Particle technology produces nanoparticles with a consistent size below 200 nm. The proprietary technology provides complete control over particle production, enhancing drug formulation options and optimizing the performance of challenging drug substances, such as poorly soluble compounds.
XSpray’s CEO, Per Andersson, said, "We are very excited about receiving this grant from Vinnova. It will enable us to broaden the application of our nanoparticle technology more quickly. It is also pleasing that the technology’s capabilities have been recognized in this way. There is a lot of competition for these grants. The fact that Vinnova shares our belief in RightSize technology is very encouraging.”
For more information, contact:
Per Andersson, CEO, XSpray Microparticles AB
Tel: +46 (0)8 730 37 00
VINNOVA is Sweden’s innovation agency. Its aim is to increase the competitiveness of Swedish researchers and companies. VINNOVA’s task is to promote sustainable growth in Sweden by funding needs-driven research and the development of effective innovation systems. To this end, the agency has 220 million euro to invest in new and ongoing projects each year. www.vinnova.se/en/
XSpray Microparticles AB is a Swedish life science technology company with in-depth knowledge of supercritical fluid technology, solid state properties, formulation science and the drug development process. The Company’s cutting-edge platform technology – RightSize™ Particle manufacturing – uses supercritical fluid as an antisolvent for controlled precipitation of an active pharmaceutical ingredient/drug substance. The technology not only provides a superior process to traditional methods but also delivers better quality pharmaceutical particles, from discovery to production.
The process yields consistent powder particles in terms of size, shape and morphology that simplify formulation and can be incorporated into a variety of dosage forms, such as tablets, capsules and inhalation systems. RightSize Particle technology addresses unmet therapeutic needs by enabling the development of drugs with enhanced delivery options, such as faster onset of action, and by adding innovative properties that truly benefit patients.
A key advantage of RightSize Particle technology is that it can be effectively scaled up to production volumes, making it an important breakthrough in the manufacture of pharmaceutical particles.
XSpray Microparticles has its headquarters and development laboratories in Stockholm, Sweden, and offers GMP production at a state-of-the-art manufacturing facility in Malmö, Sweden. Find out more at: www.xspray.com