VANCOUVER, BC / ACCESSWIRE / October 19, 2020 / XPhyto Therapeutics Corp. (CSE:XPHY / OTCQB:XPHYF / FSE:4XT) ("XPhyto" or the "Company"), a next-generation bioscience company, is pleased to announce an update on its third-party contract development programs.
Over the past 12 months, XPhyto's wholly owned German subsidiary, Vektor Pharma TF GmbH ("Vektor"), has developed an oral disintegrating film ("ODF") dosage formulation for a major European generic drug company. In Q3 2020, Vektor completed manufacturing of ODF clinical trial materials which will now be delivered for clinical evaluation. Due to confidentiality provisions between Vektor and its client, further information cannot be provided at this time.
Vektor's ODF platform technology is designed to quickly adjust the formulation to various active pharmaceutical ingredients ("APIs"). Following a scientific concept, the properties of the ODF can be varied in Vektor's lab, to form an effective dosage formulation, meeting the client's needs. The concept is based on the target drug and the desired dosage profile in order to control the mechanical properties of the ODF as well as its disintegration and drug release properties.
"Our ODF drug delivery platform provides a fast-track opportunity to bring new drug formulations to market," said Prof. Dr. Thomas Beckert, Vektor's managing director. "XPhyto is developing a pipeline of new dosage formulations based on approved APIs but Vektor is also working for drug companies as a development and manufacturing partner. Vektor can provide its clients with a versatile and rapidly adjustable ODF and transdermal dosage platform to create new delivery options for generic and non-generic APIs."
Over the past decade, Vektor has worked extensively for major and emerging drug companies to develop new and innovative dosage formulations based on Vektor's ODF and transdermal drug delivery platforms. Contract work has included generic dosage formulations for Fentanyl, Rivastigmine, Clonidine, and Rotigotine, as well as novel non-generic active formulations for the treatment of Parkinson's disease, restless leg syndrome, incontinence, local pain and abuse-resistant pain medications.
The global thin film drug market is expected to grow to USD $29.2 billion by 2024 at a CAGR of 10.5% according to Market Data Forecast.
The Company plans to provide an update on its saliva-based COVID-19 screening test development program and additional related news shortly.
About XPhyto Therapeutics Corp.
XPhyto Therapeutics Corp. is incubating the next-generation drug delivery, diagnostic, and phyto-therapeutic investment opportunities: precision transdermal and oral dissolvable drug dosage forms; rapid, low-cost infectious disease and oral health screening tools; and validation of approved cannabinoid-based therapeutics focused on European markets.
ON BEHALF OF THE BOARD
"Hugh Rogers"
Hugh Rogers, CEO and Director
Investor Inquiries:
Mr. Knox Henderson
T: 604-551-2360 E: info@xphyto.com
www.xphyto.com
Forward looking statements
This news release includes statements containing forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "develop", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "propose" and other similar words, or statements that certain events or conditions "may" or "will" occur, and in this release include the statement regarding the Company's goal of building a successful diagnostic, drug delivery, and medical cannabis company. Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including: that the Company may not succeed in developing a commercial product; that the sale of products may not be a viable business; that the Company may be unable to scale its business; product liability risks; product regulatory risk; general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; currency risks; competition; international risks; and other risks beyond the Company's control. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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SOURCE: XPhyto Therapeutics Corp.
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