An implantable drug delivery pump forms the basis of a new company, Medallion Therapeutics, Inc., which has sprung from the Alfred Mann Foundation (AMF) for Scientific Research.
Background
Founded in 1985 by healthcare entrepreneur Alfred E. Mann, AMF has developed and commercialized several medical devices benefiting thousands of patients across the globe. The formation of the new venture reflects the strategy of AMF to develop innovative solutions to major unmet medical needs and create companies to commercialize the innovation once mature.
The newly created of Medallion Therapeutics, Inc. is a life sciences company formed to provide targeted delivery solutions for pharmaceuticals and biologic therapies.
The product line is based on novel implantable drug delivery infusion pump developed by AMF scientists and engineers to provide superior safety, connectivity and large molecule infusion capabilities. These capabilities address both the requirements of currently approved clinical indications, as well as enable future expansion into new indications in areas such as diabetes and neurodegenerative disease. Medallion Therapeutics is the result of over 10 years of research and development to create the novel Medallion implantable drug delivery system.
The company is currently conducting a pivotal clinical evaluation in the United States to support an upcoming submission for pre-market approval (PMA), as well as pursuing CE Mark certification to support distribution in Europe.
Medallion Therapeutics has engaged industry veteran executives Chief Executive Officer Donald L. Deyo and Chief Commercial Officer Eric S. Harris to lead the team.
Company comments
David Hankin, Chief Executive Officer of the Alfred Mann Foundation, comments: “The Medallion Therapeutics pump holds the promise of providing patients and physicians with a superior method of infusion therapy than current market alternatives. Don Deyo, Eric Harris and the group of AMF professionals joining Medallion Therapeutics constitute a world class team that will bring this innovative solution to patients around the globe.”
Don Deyo noted, “The AMF engineers have created a tremendous platform that addresses major needs associated with currently-marketed implantable delivery devices, as well as opens the door to targeted delivery of large molecules associated with novel biologic therapies for neurodegenerative diseases. Our U.S. clinical study is moving rapidly toward achieving the enrollment required for PMA submission. The Medallion Therapeutics team is working diligently to bring our superior, cost-effective targeted delivery solutions to physicians and patients around the world.”
Eric Harris stated, “There is tremendous need for the innovative infusion, safety and connectivity capabilities of the Medallion system in all established indications. I look forward to building upon the experience of our leadership team in this market to earn the confidence with clinicians around the world in for our innovative solutions for their patients.”
Source: Medallion Therapeutics, Inc., Business Wire
published: March 6, 2014 in: Mergers and Acquisitions, Technology, USA