Greensboro, NC, May 19, 2021 (GLOBE NEWSWIRE) -- NOVA Thin Film Pharmaceuticals LLC (NTFP) has been awarded a Phase 1 grant from the National Institute of General Medical Sciences (NIGMS) under the auspices of the Small Business Innovation Research (SBIR) program and National Institutes of Health (NIH). The award project title is “DepoFilm™ -- a Novel and Efficient Method for Producing Oral Soluble Film for Drug Delivery.”
The Phase I grant will be utilized by NTFP to develop certain pediatric oral soluble film targets. These targets are undisclosed at this time.
Separately, NTFP has received a notice of allowance from the United States Patent and Trademark Office in connection with application 16/245,274, entitled: “Method and Composition for Making an Oral Soluble Film, Containing at Least One Active Agent.”
Joseph Fuisz, NTFP CEO, remarked: “NTFP is founded on a simple premise: that existing film technology is too complex, too costly and too limited to meet patient needs. Thin film offers valuable benefits to patients and NTFP’s DepoFilm™ technology addresses formulation, scale up and cost challenges. DepoFilm™ overcomes these challenges, and enables entirely new product concepts not possible with conventional film technologies.”
“Today’s announcement represents two important steps for our DepoFilm™ technology. First, the NIGMS award announced today serves to validate the DepoFilm™ platform and its potential to broaden access to oral soluble film technology and bring important therapies to market, including in the pediatric space. Second, the notice of allowance for what will become our fourth US patent represents an important milestone in our intellectual property strategy for DepoFilm™.
Madhu Hariharan, NTFP COO commented: “We are proud to receive this SBIR Phase 1 Grant from NIGMS and NIH, that will support additional product development around two needed pediatric oral soluble film products.”
“We continue to make strong progress as we advance DepoFilm™ product candidates for various market segments with critical needs. We look forward to announcing additional developmental, operational and commercial milestones in 2021.”
About NOVA Thin Film Pharmaceuticals LLC (NTFP): NTFP is a drug delivery company focused on commercializing thin film pharmaceutical products using its patented DepoFilm™ technology. NTFP is based in North Carolina, with facilities in Greensboro and Wilmington. Learn more at www.novathinfilm.com, or contact us at info@novathinfilm.com.