VersiDoser(tm) and other novel drug delivery devices move toward distribution
February 14, 2007 — /BUSINESS WIRE/ — AUSTIN, Texas — Mystic Pharmaceuticals(tm), Inc. today announced expansion plans for its Cedar Park (Greater Austin), Texas R&D center to include clinical manufacturing operations for ophthalmic and intranasal drug delivery systems and pharmaceutical products under development by the company.
For Mystic Pharmaceuticals, a growing company specializing in novel drug delivery technology and pharmaceutical products, the expansion signals significant forward movement from research and development into the first stage of bringing its products into the commercial marketplace. Mystic’s unique technologies, which include groundbreaking new devices for administering drugs through the nose and eyes, have potential applications in diverse treatment sectors such as intranasal delivery for cancer and migraine pain, or vaccines, and front of eye delivery for those who suffer from ophthalmic diseases, or for vision correction and pre/post surgical procedures.
The Company’s expansion plans include the construction of two clean room manufacturing suites, expansion of research labs and the deployment of sophisticated pilot scale manufacturing lines to produce Mystic’s VersiDoser(tm) drug delivery systems. The VersiDoser(tm) platform is the company’s advanced, precision unit dose drug delivery technology which offers unparalleled capabilities for safe, convenient, preservative free, delivery of drugs by way of the eye, nose, ear or mouth.
“Texas is an emerging hub for leading-edge life science solutions,” said Timothy Sullivan, President & CEO. “We expect Mystic’s expanded Cedar Park, Texas pilot manufacturing facility to be fully operational by mid-2007, and are currently recruiting nationally to expand our team of experienced professionals.”
The company plans to use the expanded Cedar Park pilot scale facility to produce clinical supplies for upcoming clinical research required for FDA regulatory submissions for a pipeline of ophthalmic and intranasal drugs and biologics the company has under development internally and with strategic partners.
“This expansion of our facilities reflects an important next step for Mystic Pharmaceuticals to deliver on its mission to `protect the quality of human life through life science innovations’ by bringing pharmaceutical and biologic products to the market which are safer and easier to administer, reduce cost and waste, and enhance consumer compliance,” said Sullivan.
About Mystic Pharmaceuticals, Inc.
Mystic Pharmaceuticals(tm) is an integrated specialty pharmaceutical company based in Austin, Texas. Mystic develops precision unit dose drug delivery technology platforms for pharmaceuticals, biologic agents, vaccines and other compounds for ophthalmic and intranasal applications. Mystic combines its novel drug delivery systems with a pipeline of pharmaceuticals and biologics under development by Mystic or its partners, to meet the expanding global market demand for pharmaceutical products which are lower cost, simplified in administration and provide enhanced compliance for consumers.
For more information please visit the Mystic website: www.mysticpharmaceuticals.com
Mystic Pharmaceuticals, Inc., Austin_Colleen Sullivan, +(1)512-918-2900, ext. [email protected]_or_Rhonda [email protected]