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Eiffel Technologies and MAP Pharmaceuticals Sign Development and Licensing Agreement for Multiple Inhaled Products

Posted on: Thursday, 22 September 2005, 09:01 CDT

SYDNEY, Australia and MOUNTAIN VIEW, Calif., Sept. 22 /PRNewswire/ -- Eiffel Technologies Limited and MAP Pharmaceuticals, Inc. announced today that the companies have signed a development and licensing agreement that provides MAP with the exclusive right to apply Eiffel's intellectual property to the development of pharmaceutical products for:

-- Pulmonary delivery of insulin -- Pulmonary and nasal delivery of steroids -- Pulmonary delivery of combinations of long acting beta agonists and steroids.

Under the agreement, Eiffel will initially receive $600,000 (U.S.) to fund a specified program of process development work in relation to the three therapeutic fields. The company will also supply MAP with particulate preparations for ongoing product development and future clinical activities. Additionally, Eiffel will receive payments subject to MAP's achievement of specified clinical and regulatory milestones, as well as royalties on worldwide sales of products utilizing Eiffel's technology. The agreement is structured to permit future program expansion.

Eiffel, which has conducted two feasibility projects for MAP in the past year, recently announced the achievement of the first milestone under the companies' collaborative asthma project. Development work for this product will continue under the new agreement.

Dr. Pascal Hickey, General Manager of Eiffel Technologies said, "We are pleased to be taking our relationship with MAP to the next level. This licensing opportunity has emerged from solid results achieved in early feasibility work, and reflects the extent to which Eiffel has focused its research and development and streamlined its operations. MAP's interest in exclusively licensing our technologies for these broad fields and their commitment to funding further development work also works towards validating our technology and business model. We look forward to working closely with MAP in the future and doing everything we can to help progress these products through clinical trials and on to regulatory approval."

Timothy Nelson, CEO of MAP Pharmaceuticals said, "We are extremely excited to establish this long-term relationship with Eiffel and leverage the particulate formulations developed through our previously conducted feasibility studies. The combination of these formulations and our proprietary Tempo(TM) Inhaler technology will allow us to supplement our mid- to-long term pipeline with several innovative, high-value product candidates. We remain strongly committed to the development of products that deliver superior outcomes to patients and caregivers and believe that those products resulting from our relationship with Eiffel will provide us entry into large, underserved markets with multi-billion dollar potential."

The worldwide market for inhaled steroid-beta agonist combination products has rapidly grown to $6 billion and is expected to nearly double over the next five years. The worldwide market for individual steroid products is nearly $3 billion.

Additional pulmonary drug markets may also be poised to expand dramatically as a result of the recent United States Food and Drug Administration's (FDA) Advisory Committee recommendation concerning the safety and efficacy of pulmonary delivery of insulin. Some analysts estimate that the inhaled insulin market may grow to over $3 billion within the next five years.

About MAP Pharmaceuticals, Inc. Located in Mountain View, California, MAP Pharmaceuticals is a specialty pharmaceutical company focused on the development of innovative therapies and inhalation delivery systems to treat a broad range of respiratory and systemic diseases. MAP's lead product candidate is a proprietary formulation of budesonide for the treatment of asthma in both pediatric and adult populations. The company is also developing a series of products based on its Tempo(TM) Inhaler platform, including a rapid-relief non-triptan treatment for migraine. Tempo(TM) is a proprietary, breath- synchronized, plume-controlled inhaler that automatically adjusts to each patient's unique inspiration pattern without electronics. Tempo, which may enhance patient compliance due to its ease of use, also features a novel aerosol flow controller that ensures efficient and consistent delivery to the lungs, reducing dose to dose variation while minimizing oral deposition of the delivered drug. Additional information about MAP Pharmaceuticals can be found on our website at http://www.mappharma.com/ .

About EIFFEL Technologies Limited. Located in North Ryde, Sydney, Eiffel's focus is on improving the performance and delivery of currently approved pharmaceuticals. The Company's core competence is in chemical engineering, specifically in relation to the application of supercritical fluids in pharmaceutical processing. Supercritical fluid technologies can be used to produce very small drug particles with specific and uniform physical characteristics that are difficult to achieve with conventional processes. The technology may be applied to drugs with the objective of improving efficacy, stability, safety, or patient compliance. Through enhancing the performance of drugs already on the market, it is also possible to develop line extension products, thus extending the duration of patent protection for established brands. Eiffel's technologies may be applied to any therapeutic area where there is an unmet need for improved drug performance. The main focus of current research and development is on inhaled dose forms. Additional information about Eiffel Technologies can be found on our website at http://www.eiffeltechnologies.com.au/ .

MAP Pharmaceuticals, Inc.

CONTACT: Tom Hartigan, Chairman, +61-2-9460-2114, or mobile,+0416-293-886, or Pascal Hickey, General Manager, +61-2-9805-0022, or fax,+61-2-9805-0044, both of Eiffel Technologies Limited; or investors, StephanieDiaz, or media, Tim Brons, mobile, +1-646-319-8981, both of VidaCommunication, +1-415-675-7400, for MAP Pharmaceuticals

Web site: http://www.eiffeltechnologies.com.au/

Web site: http://www.mappharma.com/

Source: PRNewswire

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