Altus Formulation Partners with Evonik to Manufacture its Proprietary SmartCelle Insoluble Drug Delivery Technology
Wednesday, May 8, 2019 9:55 AM
MONTREAL, QC / ACCESSWIRE / May 8, 2019 / SmartCelleTM is Altus Formulation's proprietary polymeric micellar technology for parenteral, oral and topical delivery of insoluble molecules. SmartCelle enables delivery of Altus and its partner's cannabinoid and other insoluble drug candidates. Altus is pleased to announce that it has partnered with Evonik's Business Line, Health Care to scale, manufacture and provide clinical and commercial supplies of the SmartCelle polymers. SmartCelle technology is protected by a range of issued patents around the globe.
Commenting on the agreement Damon Smith CEO Altus stated, "We were very impressed with Evonik's polymer chemistry expertise and their deep understanding of biopolymer manufacturing; it was a simple choice to make." Andreas Karau, Global Head of Biomaterials for Evonik, said, "We look forward to working with Altus and to scaling their exciting new technology."
About Altus Formulation
Altus is a Quebec based drug formulation and development company using its proprietary and patent protected drug delivery technologies to generate novel, differentiated and cost-effective new products for its partners and their patients. With a focus on Safer to Use™ formulations, Altus' technologies include Intellitab™ abuse deterrent technology, Flexitab™ alcohol resistant breakable extended release tablets and SmartCelle™ technologies for delivery of large and small low solubility molecules.
For more information please contact:
Louise Fortin: [email protected]
Tel: (1) 450 433 7673 x 8427
Please also visit www.altusformulation.com
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik's corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.
SOURCE: Altus Formulation Inc.