Aston University spin out Aston Particle Technologies (APT) has closed a £1 million funding round according to lead investor DSW Ventures. The funding will be used for scale up of APT’s isothermal dry particle coating (iDPC) technology, which DSW said is useful for high dose DPI formulations among other uses. DSW explained that the expanded cGMP capacity is necessary “to accelerate partnerships with pharmaceutical groups and contract development and manufacturing organizations, as well as to expand its product development and commercial teams” and noted that APT has used the iDPC technology to formulate an inhaled anti-fungal which is its lead compound.
APT’s leadership includes former Pfizer Head of Inhalation and Devices Product Development Ian Smith and former GSK Head of the Respiratory New Product Introduction Centre of Excellence David Wyatt. Wyatt commented, “This new partnership will enable us to build with confidence upon the foundation provided by Aston University and Innovate UK to commericalize iDPC at scale and to accelerate the development of innovative medicines.”
DSW Ventures Investment Executive Emma Cassidy said, “We believe that APT’s technology is truly innovative and will change the way drugs are formulated and developed. The simplicity of the technology and its ability to formulate drugs that previously could not be made in a practical or effective way is truly exciting. We look forward to working with such an experienced and dedicated management team, and have high hopes for the future of the business.”
Read the DSW Ventures press release.
