The findings, based on rodent studies conducted by NexMed’s recently acquired Bio-Quant unit, showed that following a single injection, drugs formulated with NexACT are gradually released over a 24-hour period.
The significance of this finding is the technology’s potential to improve the way large molecules are provided to the patient by, for example, limiting the number of injections required.
NexMed CEO Bassam Damaj explained that: “With insulin in particular, [the results] open the door to improving the delivery of other peptides, such as GLP-1 and Glucagon.”
And, if NexACT is able to repeat its performance during clinical trials, its potential market is huge because, according to the American Diabetes Association, approximately 24 million US citizens suffer from diabetes.
Dr Damaj also said that: “Additional studies are ongoing to extend the validation of NexACT into these and other classes of drugs,” but did not provide additional details.
Demand for “depot” style delivery methods is also being driven by the growing number of biologics in development, the vast majority of which, ar present, can only be delivered via injection.
In other news, the US specialist contract research organisation (CRO) announced that the refinancing the mortgage on its manufacturing facility in New Jersey has generated an additional $1.4m.
The deal, with UK investment group the Tail Wind Fund, is NexMed’s latest effort to address the financial problems that last year saw it fall below the minimum NASDAQ listing requirements.
Speaking about the latest refinancing, Damaj said: "[It] is yet another testament to the strength that the market continues to place on NexMed. This latest cash infusion strengthens our reserves and enables us to accelerate the planned development of the next generation of our NexACT technology.
“In a short period of time, we have made tremendous progress in the development of NexACT for both new drugs and for non-transdermal delivery of drugs.”