Feeling No Pain
Executive Summary
By in-licensing Lidocaine, a needle-free anesthetic ready for phase III testing from PowderJect and obtaining rights to PowderJect's needle-free drug delivery platform, the one-year-old pain management company AlgoRx has transformed itself overnight from a six-person shop with a pre-IND candidate to a drug-development company. Now it faces the challenges of late stage development and creating a pipeline with its injection technology platform. For a 15% stake in AlgoRx, PowderJect is glad to have finally divested its drug delivery business so it can focus on vaccines, an area which, through a series of acquisitions, is moving the company into the black.
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PowderMed's Vaccines: Out of Chiron, Into the Clinic
The £542 million ($959 million) that Chiron Corp. spent acquiring PowderJect Pharmaceuticals PLC in mid-2003 was a move by the US company to get its hands on PowderJect's thriving Fluvirin influenza vaccine business and, oddly enough, bulk up its infrastructure on its home soil.
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