2000
PowderJect and PA Consulting Group strengthen long-standing relationship with strategic collaboration
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12 June 2000
Oxford, UK and Cambridge, UK, June 2000 – PowderJect Pharmaceuticals Plc (PowderJect; London: PJP) and PA Consulting Group (PA) announced today that they are strengthening their long-standing relationship with a strategic collaboration. The collaboration will focus on the late-stage development and commercialisation strategy for PowderJect’s pipeline of innovative products. PA, a leading management, systems and technology consultancy with extensive experience in the drug delivery field, has worked with PowderJect for several years on a variety of programmes, including the Company’s flotation on the London Stock Exchange in 1997.
As part of the collaboration, PA will provide its significant expertise in progressing drug delivery technologies to market. In addition, PA will take a strategic equity investment in PowderJect through the purchase of PowderJect Ordinary Shares by cash subscription.
‘We are extremely pleased to continue our long-standing relationship with PA,’ said Dr. Paul R. Drayson, Chairman and Chief Executive of PowderJect Pharmaceuticals. ‘PA has worked with us for many years now, and PA’s strategic investment in PowderJect represents independent validation of the strength of our consumer-focused drug delivery technology. Our new collaboration fits well with our strategy of leveraging external expertise to progress our technology to market, and allows us to benefit from PA’s significant experience in industrialising drug delivery devices. ’
Jon Moynihan, PA’s Executive Chairman, added: 'This collaboration plays to PA's strengths and track record in innovation and technology, and offers tremendous opportunities for both organisations to pool expertise. We are delighted to be partnering PowderJect to progress their drug delivery technologies to market. PA always seeks to add substantial value to clients and this collaboration will result in PA more closely sharing in our client's success.'
For more information, please contact:
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| John O'Neill |
| PA Consulting Group |
| Cambridge Technology Centre |
| Melbourn |
| Royston, HERTS |
| SG8 6DP |
| United Kingdom |
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Tel: +44 1763 267 133 |
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Fax: +44 1763 267135 |
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E-mail:
john.o'neill@paconsulting.com |
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Notes to editors
PowderJect Pharmaceuticals Plc, based in Oxford England, Fremont California and Madison Wisconsin USA, was established in 1993 to exploit research at Oxford University in the field of drug, vaccine and diagnostics delivery. PowderJect has become the world leader in the field of particle mediated injection of medicines, developing novel products in-house and for leading pharmaceutical companies based upon the use of its proprietary powder injection systems.
The needle-free PowderJect System delivers drugs, vaccines and diagnostics painlessly in a dry powder formulation of microscopic solid particles. These particles are accelerated to high velocity within a helium gas jet generated momentarily inside the hand-held PowderJect device and propelled into the skin. Particle-mediated injection is a novel technique, unique to PowderJect, and is protected by a broad portfolio of granted patents and patent applications. PowderJect is developing products based upon this proprietary technique in several important fields, including local anaesthesia, erectile dysfunction, DNA and conventional vaccines and diagnostic testing.
PA Consulting Group is a leading management, systems and technology consultancy, with a unique commitment to the integration of these capabilities. Established almost 60 years ago, and operating worldwide from over 30 offices in some 20 countries, PA draws on the knowledge and experience of about 2,700 employees, whose skills span the initial generation of ideas and insights all the way through to detailed implementation, including:
- Strategic management, and managing for shareholder value
- Accelerating business growth, especially through innovation and technology
- Improving business design and performance, including customer relationship management, enterprise-wide systems for the supply chain, and full e-business solutions
- Mobilising human resources
- Delivering change effectively, including projects and programmes.
PA focuses on creating benefits for clients rather than merely proposing them, and this focus is supported by an outstanding implementation track record in every major industry and for governments around the world. PA also develops leading-edge technology both for its clients and within its own portfolio of venture companies in areas ranging from software to wireless technology to life sciences.
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