NOVA Thin Film Pharmaceuticals and Quality Chemical Laboratories Announce Partnership in Formation and Commencement of Soluble Thin Film Operations
GREENSBORO, N.C., June 01, 2020 (GLOBE NEWSWIRE) -- NOVA Thin Film Pharmaceuticals LLC (NTFP) announced today its formation and the commencement of its soluble thin film operations. NTFP is commercializing its patented DepoFilm™ technology. NTFP is based in North Carolina with a research and development facility in Greensboro and manufacturing in Wilmington. NTFP’s manufacturing is located at Quality Chemical Laboratories (QCL)’s state of the art manufacturing and laboratory facilities in Wilmington. QCL is also a lead investor in NTFP.
NTFP’s Chief Executive Officer, Joseph Fuisz, commented: “NOVA Thin Film is founded on a simple premise: that existing film technology is too complex and too costly to meet market needs. Thin film offers valuable benefits to patients and NOVA Thin Film’s superior technology will address formulation, scale up and cost challenges.”
“Patented DepoFilm™ represents thin film technology 2.0. DepoFilm™ addresses the challenges in conventional wet-cast thin film, and enables entirely new product concepts not possible with conventional technologies. This makes NOVA Thin Film the partner of choice for the industry.”
“NOVA Thin Film starts with the right film technology, the right manufacturing partner, the right investors and the right Board of Directors. These advantages, coupled with management execution, will drive value for NOVA Thin Film and its partners.”
Madhu Hariharan, NTFP’s Chief Operating Officer, stated:
“DepoFilm™ technology has game-changing implications for soluble film drug delivery. It allows for rapid prototyping and shortened product development timelines with more efficient API usage. The added advantage of a low cost and high yield manufacturing process makes DepoFilm™ a compelling and disruptive innovation.
“Our partnership with Quality Chemical Laboratories has provided the capital, facilities and know-how to enable us to provide world-class production and analytical capabilities from day one. We are immediately positioned to deliver value for ethical, generic and consumer healthcare companies. ”
Richard C. Fuisz, M.D., the noted drug delivery inventor and entrepreneur credited with pioneering two novel dosage form classes, orally disintegrating tablets and oral soluble film, serves on our Board of Directors. Dr. Fuisz is, together with Joseph Fuisz, the inventor of our issued DepoFilm™ patents. Dr. Fuisz remarked: “The beauty of DepoFilm™ lies in its elegant simplicity, and the move of thin film manufacture into a single stage integrated manufacturing process from film formation to final primary packaging, together with the virtual elimination of yield issues that have bedeviled wet-cast manufacturers. This new effort represents an important contribution to drug delivery.”
Dr. Yousry Sayed is the founder and Chief Executive Officer of QCL. QCL is NTFP’s partner and lead investor. Dr. Sayed has joined the Board of Directors. QCL provides cGMP manufacturing facilities and world class laboratory and quality capabilities to NTFP.
Dr. Sayed stated: “We are delighted to enter into partnership with NOVA Thin Film as an investor and also a provider of manufacturing and laboratory services. NOVA Thin Film is based on a unique technology platform that offers a great benefit to drug companies and patients. We are pleased to partner with NOVA Thin Film and excited about what this investment will mean for Wilmington and patients near and far.”
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 using email@example.com.