Philadelphia-based, Iroko Pharmaceuticals recently took over iCeutica to enhance its development of innovative, low-dose non-steroidal anti-inflammatory drugs (NSAIDs). According to the terms of the merger agreement, Iroko will acquire 100% of iCeutica’ s shares.
This takeover will enable Iroko to get iCeutica’s SoluMatrix Platform, to help lower drug-particle size in an endeavor to improve drug delivery in the body. An earlier contract with iCeutica, had enabled Iroko to incorporate this nanotechnology platform in developing three NSAIDs that is currently in the Phase III clinical construction. The takeover will enable Iroko to procure another nano-formulated NSAID, meloxicam, and a muscle-relaxant for pain relief, metaxalone that are currently in clinical trials.
Iroko president and CEO John Vavricka said that the acquisition will help his company to meet the public-health directive stipulated by the US Food and Drug Administration. The stipulation is to deliver nano doses for the shortest period.
The company is replicating many Phase III trials of nano formulated solutions for medical and commercial applications. The solutions have been designed to administer efficient and low doses.