Supersonic Drug Delivery Firm Seeks UK Listing

PowderJect Pharmaceuticals, which is developing a unique new drugdelivery system that really is based on rocket science, according to Terry Burkoth, product development director, is seeking a full listing on the London Stock Exchange. The Oxford, UK-based company hopes to raise L35 million ($57.4 million) in new money, which will give it a market capitalization of around L110 million, and funds to see its leading products through clinical trials.

The PowderJect system developed by the company, which was founded in 1993, has grown out of research conducted at Oxford University, and involves the supersonic injection of powder drugs through the skin.

Dr Burkoth, who joined the firm from Alza, explained that the drug is formulated as a fine powder. A helium gas jet from a cylinder housed within the device accelerates the particles to Mach 3, with gas dynamics and particle density used to control the depth of delivery of the drug into the skin. He emphasized that powder formulation can control drug release. The device also houses a silencer to protect from the supersonic boom as the jet-propelled particles break the sound barrier.