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2008 Future Leaders Conference March 27th, 2008 Millennium Hotel – New York Pacira Pharmaceuticals, Inc. Acute Care Specialty Pharmaceutical Company • Established March 2007 – SkyePharma Injectable Business • Syndicate Investors – HBM Bioventures (Cayman) Ltd. – MPM Capital – OrbiMed Advisors, LLC – Sanderling Ventures • Series A tranched investment of $85 million • Pacira Pharmaceuticals – moving from drug delivery to an acute care specialty pharmaceutical company Introduction and Overview Pacira Pharmaceuticals, Inc. Unique Technology and Team Create Value Acute Care Specialty Pharmaceutical Company Model • Value creation based on understanding of institutional markets and acute care medical needs • Technology provides advantages over existing therapies to create high end innovative products – Currently developing products with significant market potential for Pacira and Partners • Experienced management team with a strong knowledge of developing, manufacturing, marketing, and delivering products to the acute care market • Capable and passionate people dedicated to delivering to our customers Pacira Pharmaceuticals, Inc. Unique Technology Creates Value Acute Care Specialty Pharmaceutical Company Growth • DepoFoam® delivery technology – highly flexible technology platform – Products approved utilizing DepoFoam® with regulatory agencies in multiple markets – US, EU, Australia, Brazil – Epidural and Intrathecal delivery of approved products provide efficacy and safety pathways • Two GMP approved manufacturing facilities provide global manufacturing requirements – Best in class capabilities to extend the stability of labile compounds including peptides and proteins – Aseptic manufacture and filling Pacira Pharmaceuticals Inc. Unique Team Creates Value Acute Care Specialty Pharmaceutical Company Model • Company Management experienced in development and delivery of acute care products – Multiple game changing product introductions – Zantac/IV, Rocephin, Versed, Angiomax, Seroquel, Oxycontin – DepoFoam® Products improve patient care utilizing well characterized molecules • Create value efficiently utilizing our knowledge and understanding of the acute care market and customer partnerships to develop high value added products – Commercialize DepoBupivacaine™ in the United States Unique Proprietary Technology DepoFoam® Technology Optimizes Pharmacokinetics and Pharmacodynamics Drug Concentration Free Bolus Sustained-Release Formulation Toxic Level Minimum Therapeutic Level Time DepoFoam® Proven Technology Platform Non-Traditional (multivesicular) Liposomes • Sustained release delivery technology proven for a wide range of administration strategies developed over 15 years – Ready-to-use aqueous suspension, works with narrow gauge needles and pen systems (29 & 31 gauge) – Aseptic manufacture and fill – Water-soluble, water-stable drugs – Small molecules, macromolecules – Commercialized manufacture in place – IP to 2018 with significant “know how” DepoFoam® Releases Product From 1-30 Days • Multivesicular, non-classical liposome • 10–30 µm diameter • Particle suspension in e.g., saline injected with fine-gauge needles • >97% water & drug, <3% lipid • Lipids naturally occurring, biocompatible, biodegradable • Release: 1 to 30 days • Delivery: µg to mg/day • FDA, EMEA, Australian and South American regulatory approvals FF-SEM image of DepoFoam particle DepoFoam® Permits Both Systemic and Local Delivery Systemic Delivery Local Site Delivery DepoFoam® can release drug into the bloodstream via the interstitial space DepoFoam® can release drug into a body compartment, such as a joint - Subcutaneous - Intramuscular - Intrathecal - Intra-articular - Intraperitoneal - Subcutaneous - Epidural - Intraocular Products and Pipeline DepoDur® Provides Effective Pain Relief for up to 48 Hours After Surgery • Sustained–release, injectable (epidural) morphine for relief of post-surgical pain – Provides effective relief of pain for up to 48 hours with a single injection – Avoids catheter-related problems with conventional short-acting morphine – Potential to replace conventional infusion pumps (equipment failure and med errors) • USA – Approved by FDA May 2004 (first-cycle approval) – Launched Dec 2004 – now marketed by EKR Therapeutics – Significant commercial opportunity • Europe – Filed Nov 2003 (EU mutual recognition procedure with UK as reference country) – UK marketing authorization 2006 – Licensed by Flynn Pharma – Approvals in other EU countries to follow over next 12 months • Australia – Approved and sold by Orphan Australia DepoCyt(e)® – Improves Response Rates and Dosing Regimen • Intrathecal, injectable cytarabine for lymphomatous meningitis – Severe complication of lymphoma – DepoFoam® formulation extends period between injections from 1–2 days to 2 weeks and allows treatment on an outpatient basis • Marketed by Enzon in US as DepoCyt® and Mundipharma in Europe and most other ROW countries (Ex-Japan) Sales in $MM Global DepoCyte Sales 30 25 20 15 40% AGR over last three years 40% AGR over last three years 10 5 0 2004 2005 2006 2007 DepoBupivacaine™ 72 Hour Post-surgical Pain Relief • Approximately 45 million annual US in-patient and outpatient surgical procedures – 7.2 million utilize bupivacaine • Non-opioid therapy for post-surgical pain is a significant unmet medical need • Bupivacaine is the most commonly used local anesthetic for significant surgical procedures and is considered the gold standard – Bupivacaine is effective but duration of action is 6-8 hours Source: Thomson Medical Data 2007 DepoBupivacaine™ Offers Important Customer and Patient Benefits • Simplified post-operative pain management after various surgical procedures – Post-op pain control for 72 hours following surgery, part of multi-modal pain control strategy • Significant reduction of supplemental opioid pain medications – Fewer narcotic related issues and side effects • Easy to use – Infiltration of wound site at closure – No need for catheters, pumps, or devices – Simple dilution with saline solutions for a wide range of volumes • Likely pharmacoeconomic benefits – Improved patient management, earlier discharge, faster rehabilitation – Reduced opioid related costs and enhanced patient satisfaction DepoBupivacaine™ Clinical Development and Regulatory Strategy • Phase II complete, effective pain control in soft tissue surgery and bone surgery, four surgical models • No safety issues at highest doses studied for pain control • Phase III trials, completed as planned support a NDA/EMEA in 1H 2009 – Japan – Partner (Maruho) developing for intra-articular use – Additional clinical opportunity in nerve block and epidurals • 505(b)(2) Regulatory Strategy – Bupivacaine is a well-characterized molecule – DepoFoam® successful in multiple global regulatory approvals – IP for DepoFoam® through 2018 DepoBupivacaine™ Manufacturing Strategy is Solid • Pacira manufactures DepoDur® and DepoCyte® in our San Diego facility to meet global requirements • Pacira produces material to meet the needs of our multiple R&D partnerships in San Diego facility • DepoBupivacaine™ strategy is to manufacture product for the US and the EU launch at scale on equipment currently producing clinical material • Two GMP commercial manufacturing facilities in San Diego DepoBupivacaine™ Commercial Strategy is On Track • Launch in the US with Pacira Commercial Resources – Extensive clinical and commercial experience in acute care markets, history of success including many blockbuster brands – Versed, Zantac/IV, Rocephin, Angiomax, Seroquel, Oxycontin – Marketing and Sales Team who launched Angiomax vs Heparin in percutaneous coronary angioplasty – Concentrated market <1,000 hospitals perform 70% of targeted surgical procedures • In-patient and out-patient opportunity to replace opioid therapy (IV and PCA) for enhanced patient care and improved economics • Partner in the European Union and ROW – Currently partnered with Maruho in Japan Pacira Partners and Bio-Improvement Opportunities DepoFoam® Research and Development • Improved dosing and administration – weekly and monthly profiles to improve PK/PD • Three active partnerships for multiple products and combinations of products – subcutaneous dosing • DepoFoam® provides a novel opportunity for long acting intrathecal injection for multiple sclerosis, alzheimer's, metabolic proteins or enzymes • DepoFoam® provides the opportunity for long acting injection into body compartments beyond SQ dosing Pacira Pharmaceuticals Inc Bio-lmprovement Utilizing DepoFoam® • Pacira sponsored enhanced biosimilars/bioimprovements – Product feasibility demonstrated for IFN-α, EPO, G-CSF, FSH – Products could be further developed for out-licensing or Pacira commercialization DepoIFN-a 80,000 60,000 Rat, sc 40,000 Δ Serum IFNa-2b Conc, pg/mL 20,000 4,000 ● 3,000 DepoFoam®-encapsulated IFNα2B (160 mcg dose) unencapsulated IFNα-2B (100 mcg dose) 2,000 1,000 0 0 1 2 3 4 5 Time, days 6 7 8 9 Pacira Pharmaceuticals, Inc. Acute Care Specialty Pharmaceutical Company • Blue Chip Venture Investors and Board of Directors • Management Team with world class experience and expertise in product delivery and acute care commercialization • DepoBupivacaine™ – a significant product opportunity, Pacira launch in the US and partner in EU and ROW • DepoFoam® Technology platform provides opportunity – Rapid, low risk clinical and regulatory development programs – Improve product dosing profiles and therapeutic options • Multiple Partnerships provide short term milestone revenue and longer term royalty revenue – 2 international product approvals – DepoDur® and DepoCyt® – R&D initiatives around blockbuster brands Thank You