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For Immediate Release: 8 Novemeber 2007 The Medical House PLC The Medical House PLC (“TMH” or the “Company”) (AIM:MLH), the drug delivery specialist, is pleased to announce that it has today signed a strategic marketing agreement with Catalent Pharma Solutions (“Catalent”), one of the leading global providers of advanced technologies and outsourcing services (formerly the Pharmaceutical Technologies and Services segment of Cardinal Health, Inc). Under the terms of this agreement, the companies will jointly promote and market TMH’s “ASI” disposable AutoSafety Injector system in combination with Catalent’s services and technologies, which include sterile filling of pre-filled syringes. Catalent offers extensive capabilities for the development, manufacture and packaging of pharmaceutical and biotechnology products, and brings to the collaboration extensive customer relationships in nearly 100 countries, and an experienced business development team operating in the world’s leading pharmaceutical markets. The companies are also exploring opportunities to jointly develop specific drug & device combination products, which if successful may be suitable for out-licensing and/or marketing partnerships with pharmaceutical industry partners. Richard Yarwood, Group President of Catalent’s Sterile Technologies segment, said, "We believe that the ASI autoinjector system provides pharmaceutical companies with an easy to use, cost-effective and patient-friendly alternative which enhances and complements the range of technologies and services which Catalent can provide. We are confident that this collaboration will be beneficial for The Medical House, Catalent and our customers. " Ian Townsend Chairman of TMH commented, "We are delighted to have signed this agreement which will significantly raise the profile of our ASI technology within the pharmaceutical industry. We fully expect that this relationship with such a major player will provide significant new business opportunities for the ASI. Given Catalent’s key role and involvement in pharmaceutical and biotechnology companies’ drug development programmes, these new opportunities for TMH will be presented at an earlier stage than would otherwise be the case. We believe that there is an excellent fit between our organisations and very much look forward to working with Catalent. We are confident that this collaboration will provide the basis for TMH to fully exploit the simplicity and versatility of our proprietary autoinjector systems, enabling us to build on earlier successes in licensing these technologies and further enhancing our profile and financial performance." -Ends-
The Medical House PLC
In November 2007, TMH announced that it has agreed to extend the term of the development, licensing and supply agreement for the ASI which it signed in December 2006 with a leading global pharmaceutical company. Under new terms, the minimum duration has been increased from five to six years, with TMH agreeing to a provision for further extension to approximately 16 years. Additionally, TMH’s projected revenues are increased from £27 million to £34 million (of which £23 million is for technology access, or licence, fees). TMH’s minimum guaranteed revenues have also increased to £20.5 million (of which £15 million is in licence fees). TMH is receiving £3 million of pre-commercialisation licence fees. TMH recently commenced work on the pre-commercial phase of the agreement’s development programme and this will result in additional development monies to TMH of approximately £900,000 over the next 18 months. TMH signed its first deal for the ASI in June 2006 with Martindale Products and Specials, part of Cardinal Health Inc, in an initial five-year contract to supply the ASI system for use with an, as-yet, undisclosed pharmaceutical product, in the United Kingdom. The combined product is to incorporate TMH’s ASI and Martindale’s pre-filled syringe. The agreement has projected revenues for TMH of £3 million over an initial supply period of 5 years. In December 2005, TMH announced an agreement with a European
Government Agency to develop a disposable autoinjector for emergency
administration of specific pharmaceutical compounds, based on
TMH’s ASI autoinjector. Within this project, TMH’s
client is making the required capital investment and covering
the costs of design and development. In March 2007, it was announced
that TMH had been commissioned by this Agency to enter into a
second phase of development within the project, which involves
TMH developing and manufacturing devices, according to defined
operational and functional requirements, for technical assessment,
over an anticipated 12 months project duration. Within the second
phase of the project, TMH will receive up to £1 million,
subject to achieving agreed milestones, in relation to the cost
of the project including associated design and development activities. Historically, the majority of the group’s turnover has come from its orthopaedic company, Eurocut Limited, which designs and manufactures instruments and systems used in surgical procedures for many of the world’s leading orthopaedic companies. With the increasing significance of its drug delivery division, the group has been considering its options for Eurocut. For more information, visit www.themedicalhouse.com |
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