Avicenna Therapeutic Technologies, LLC
True Empowerment in Healthcare.
Avicenna TT is an early stage medical company specializing in customized drug delivery technologies for injectable medications. The Company was founded in 2016 and is located in Princeton, NJ. The Company’s management have extensive product design/development, engineering, manufacturing, operations, regulatory, finance, business development, and marketing experience focusing on the medical device, pharma/biotech and contract manufacturing/packaging sectors.
The Avicenna business model is to develop and commercialize the extended stability/sterility storage and injection device that would be licensed to other pharma and biologic manufacturers to package their drugs. The new storage/injection device will improve drug availability, storage and shipping, manufacturing cost, patient compliance and lower the overall treatment costs.
Solutions Through Out-of-the-Box Thinking.
The cost of healthcare, drugs, medical insurance premiums and medical claims is at an all-time high and continues to rise. Business leaders are being called upon to make changes in the workplace in order to curb rising costs. Many are turning to workplace health programs to help employees adopt healthier lifestyles and lower their risk of developing costly chronic diseases. Additionally, a major contributor to health care costs is the drug cost and patient non-compliance. The bottom line is that rising health care costs are unsustainable.
Prescription drug non-compliance rates are greater than 50% (even with life-threatening/debilitating diseases). Injectable drugs requiring daily administration greatly contribute to this non-compliance rate. Non-compliance costs upwards of $300 B annually in the US alone. The global tendency today is to shift the drug administration to home use as much as possible and where it is possible.
Many patients with chronic diseases are physically debilitated and frequently incapable of using the traditional vial/syringe format to parenterally-administer daily medications. Not surprisingly, to curb the rising cost of healthcare, to meet regulatory requirements and suit the growing needs of patients suffering from chronic conditions, self-administration methods necessarily have evolved.
As new drug development pipelines continue to thin and generic encroachment of branded, blockbuster products increases, many pharmaceuticals, biotechnology, and specialty pharma companies are seeking ways to maximize the value of their existing drug products. For example, offering a previously approved drug in a pre-filled syringe format which improves patient ease of use may help to differentiate it from similar products for the same therapeutic indication that still uses a conventional vial and syringe format. Moreover, in today’s highly competitive global drug market, generic drug and biosimilar manufacturers must enter the market more quickly than ever before to achieve success. Because of this drug manufacturers must not only demonstrate that a product is safe and effective but also delivered in a way that will help with patient compliance, ensure brand loyalty and offer improved healthcare outcomes.
Pharmaceutical, biotech, and specialty pharma companies facing these challenges are taking a much closer look at drug products; not only from a molecular standpoint but also from the perspective of cost, therapeutic efficacy, drug delivery, and lifecycle management. This requires a new way of thinking about drug delivery and product packaging. To ensure proper packaging and delivery solutions, pharmaceutical manufacturers are beginning to seek out partnerships with drug delivery companies much earlier in the drug development process.
The world and beyond.
The pharmaceutical industry’s blockbuster drug business model has quickly become irrelevant in today’s highly competitive global healthcare market. According to MDDI Medical Device and Diagnostic Industry News, Products and Suppliers in the injectable drugs market globally is set to grow at a 14 percent compounded annual growth rate to reach over $400 billion in 2025. The report by Markets and Markets found that the global injectable drugs market was $22.5 billion in 2012. The growth of disposable medical supplies is being driven by skyrocketing health care demands spurred by aging patient demographic patterns. A rising incidence of chronic diseases and disorders, and the extension of health insurance coverage by the Affordable Care Act of 2010 made the healthcare cost to spire up uncontrollably.
The world market outlook from present to 2025 shows a range of therapeutic agents — vaccines, insulins, analogues and other biologics — driving growth in the pre-filled syringes sector. Important innovations will include advances in liquid formulation technology that enable protein drugs to be stable, as well as liquid pre-filled packages and developments that enable the simple and cost-effective production of lyophilized formulations. According to a June 2011 publication entitled Pre-Filled Syringes: World Market Outlook 2011-2021, the pre-filled market generated $2.7 billion in revenue in 2010, and it was $3.9 billion in 2015. This represents an almost 45 percent increase in the size of the pre-filled syringe market and that trend is continuing, and today, its a 16 billion injections annually.
Despite many well-documented problems, most pre-filled syringes are still designed using a conventional plunger and barrel format. That does not make them suitable for any prolonged storage of medication limiting shelf-life of pharmaceutical and biological drugs. While there have been some modest improvements in pre-filled syringe designs and performance over the past decade, e.g. changes in device polymers and coatings that reduce friction, needleless devices etc., current pre-filled syringe designs do not universally meet drug manufacturer and patient expectations. Avicenna Magnetic Injection Syringe Technology (MIST) differs from other injection systems in that it can store medication and keep sterility for a very long time and act as a syringe when needed. It also can be configured specifically to the drug/biologic delivery needs and requirements versus configuring the drug/biologic to fit the device which often times leads to a less than desirable combination product delivery system.
The MIST proprietary vacuum-sealed cartridge (drug container) can accommodate a drug/biologic in dry form or in solution. One area that Avicenna is concentrating its development efforts is with drugs requiring extended stability/sterility storage in vacuum-sealed vials to now be stored and injected from within the patented injection system. Also, pharmaceutical, biologic, specialty-pharmaceutical and biosimilar drug companies that choose to use the Avicenna device can increase the life-cycle management and dramatically improve the cold storage and supply chain of their drug franchises due to the unique, brand differentiated device.
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12 Countryside Drive