DURHAM, NC – Nanotechnology firm Liquidia Technologies is spinning out a new ophthalmology-focused company, building on the success of a recent partnership with GlaxoSmithKline (NYSE: GSK).
Last year, an agreement with GSK regarding Liquidia’s vaccine and pulmonary technology paved a cash runway for other possibilities with the platform.
CEO Neal Fowler released the following statement today:
“Liquidia has had the great fortune of being able to demonstrate how our transformative product development and manufacturing platform can be applied to the development of very promising therapeutics in high growth areas. … Developing a structure that allows for the creation and financing of new companies is a great fit for the ophthalmology focused business and is a structure we will continue to consider with other assets and therapeutic areas as we go forward.”
Specifics of the new company were not disclosed, but the company did say the lead product for the new entity would be a glaucoma treatment, expected to enter into clinical studies in 2014. It shouldn’t come as a huge surprise to industry watchers, as Liquidia’s chief scientific officer, Benjamin Yerxa, gave a speech earlier this year on applying the technology to glaucoma.
Liquidia could not make any additional comments, but a spokesperson promised to release more information about the new company in the second quarter of this year.
In the meantime, Liquidia proper will remain focused on its vaccine and pulmonary product development platform, including work already initiated as part of the GSK collaboration.
Founded in 2004 as a UNC-Chapel Hill spinoff, Liquidia utilizes a technology platform called PRINT, a particle engineering system that Fowler says has multiple potential applications.