A Lawrence-based drug development company has signed a deal that it hopes will open up worldwide markets for it products.
Leaders with CritiTech Inc. announced Thursday a strategic alliance with AAIPharma Services Corp.
The Wilmington, N.C.-based company provides drug development services to more than 100 pharmaceutical companies worldwide. The new strategic alliance allows AAIPharma to market CritiTech’s unique drug delivery system.
“This will expose us to their clients, and they have lots of clients,” said David Johnston, CritiTech’s chief executive officer.
CritiTech, which is a spin-off of research done at Kansas University, has developed a drug delivery system that makes it easier for the body to accept certain types of drug treatments and cuts down on harmful side effects. Currently, the company has focused most of its work on incorporating the technology into a drug used to treat ovarian cancer.
“But we believe it can be used much more broadly than cancer treatments,” Johnston said of CritiTech technology.
Lawrence leaders have touted CritiTech as one of the community’s best hopes of becoming a major player in the bioscience industry. The city and county last year agreed to a $2.9 million deal to purchase and renovate the former Oread Labs building in west Lawrence to use as a facility to attract promising biotechnology companies.
CritiTech is the main tenant at the facility, which is near Bob Billings Parkway and Wakarusa Drive.
Johnston said work on CritiTech’s main drug project, Nanotax, is moving along well. The cancer drug is close to completing phase I drug trials, which puts it about five years from being ready for market, Johnston said.