CritiTech signs joint ventute agreement with Finoso Pharma

To provide alternative API size reduction technology and particle design services to the pharmaceutical industry

(L-R) Dr David Johnston, Dr KR Kumar and Dr Bala Subramaniam during the signing ceremony

CritiTech Inc and Finoso Pharma have formally established a joint venture which will be named Finotech Pharma with a business office in Lawrence, KS, USA. This joint venture will provide alternative API size reduction technology and particle design services to the pharmaceutical industry with associated formulation services to meet R&D and early clinical trial supply needs.

The particles have been designed to be used in a variety of formulated products that enable the delivery of oral dosage forms, intravenous suspensions and inhalation products

Consistent with the agreement, announced recently the companies are participating in a 50/50 joint venture. Finoso Pharmaceuticals has contributed its existing facility and experienced staff located in Hyderabad. CritiTech is providing specialised fine-particle production equipment, new technologies, technical expertise and business and marketing support. This exciting development is the first time that CritiTech’s technology has been deployed outside of the US and reflects the growing importance of repositioning existing products through innovative delivery technology.

Dr Kumar Kurumaddali, Managing Director, Finoso Pharma, said, “This joint venture is a strategic opportunity for both parties. By combining our experience in the domestic and international product development market with CritiTech’s technology and expertise, our clients will receive a higher level of service and new drug delivery options for their products.”

“CritiTech is pleased to be expanding the access to its technology in India to address emerging needs and improve access to technology that enables different drug delivery options. India represents a key market for Finotech Pharma as we continue with our geographic expansion strategy,” said Dr David Johnston, Chief Executive Officer, CritiTech.

EP News Bureau – Mumbai