Combined entity to create personalized medicine to improve patient adherence
RESEARCH TRIANGLE PARK AND CARY, NC – FEBRUARY 27, 2017 —Panaceutics Inc., a personalized medicine and clinical nutrition company, today announced it acquired Triangle Compounding Pharmacy (TCP) of Cary, NC bringing an FDA-approved 503B Outsourcing Facility to complement its personalization technologies. Panaceutics’ on-demand robotic system rapidly makes personalized therapies in delivery forms designed to improve adherence. Per this agreement, Panaceutics and TCP intend to develop online formulation tools that enable doctors to create individually customized combinations to replace multiple pill regimens and also to develop suspension stable forms of approved pharmaceuticals. Panaceutics mission is thus broadened to providing personalization automation and related software services that support an increased range of therapies, from special purpose sterile formulations to oral poly-therapies designed for long-term adherence. The addition of TCP’s compounding pharmacy expertise and its FDA Outsourcing Facility will expedite the achievement of Panaceutics’ goals.
TCP consists of two entities, a state regulated compounding pharmacy (503A) servicing the special pharmacy needs as prescribed for individual patients, and a separate FDA-inspected and approved Outsourcing Facility (503B) allowed to supply hospitals, medical research institutes, and clinical research organizations (CROs) nationwide. TCP is the first 503A pharmacy in North Carolina to be accredited by the Pharmacy Compounding Accreditation Board (PCAB). Less than 1% of the compounding pharmacies in the United States are accredited by PCAB. Of the nearly 3,500 compounding pharmacies nationwide, less than 60 have achieved 503B Outsourcing Facility approval to supply sterile compounds under cGMP quality controls to major medical facilities.
Panaceutics delivers personalized monthly subscriptions of “pill free” suspensions combining up to 20 active ingredients in tasty puree filled pouches that are a convenient way to take individualized formulas of clinical nutrition and pharmacy grade dietary supplements. In several market trials, this delivery form has been found to be favored by a large majority over taking multiple pills. Cloud-based software is used to choose the right ingredients and dosage for an individual, and the formula is then sent to Panaceutics’ proprietary robotic system that builds a 30-day supply in less than 4 minutes under cGMP quality rules. Panaceutics, with the addition of TCP’s expertise and pharmacy facilities and several medical team partners, plans to apply this proprietary technology to develop personalized therapies, including approved active pharmaceutical ingredients prescribed for patients. Panaceutics’ technologies will enable the principals of precision medicine and personalized wellness to be economically applied to large markets.
“Our team of pharmacists and accredited technicians are very excited to work with Panaceutics to use state of the art automation to accurately and rapidly make therapies that reflect the genomic and metabolic variations in the medical needs of individuals. We see this as the future of pharmacy and are thrilled to be part of the team that will make personalization available on a mass scale,” said Danny Barnes, President of TCP.
Added Edison Hudson, Chief Executive Officer of Panaceutics, “Danny and his team are a highly regarded professional organization with proven dedication to meeting high quality standards as indicated by their certifications. We believe that together we can identify and develop applications for automated personalization of commonly prescribed pharmaceuticals, such as those used to prevent and treat cardiovascular disease, cancer, diabetes and other chronic diseases that require complex combinatorial drug therapies. Merging Panaceutics’ technologies with TCP’s high-integrity GMP will result in a system that formulates and delivers the right drug, the right dose, and the right combination safely for each individual. Our efforts will make the potential healthcare benefits of precision medicine economical and scalable.”
Panceutics will present and be available for discussions during the CED Life Science Conference 2017, February 28th – March 1st at the Raleigh, NC Convention Center (http://cednc.org/LSC ). Presentation will be held at 2:50 pm on February 28th.
For additional information please contact:
Chief Executive Officer
Panacea BioMatx Inc
Triangle Compounding Pharmacy
Tel. 919-858-0809 ext 201
No Pills + Convenience + Appealing Taste > Adherence
Panaceutics robotic automation processes 30 day supply of individualized
combination therapies in a few minutes made exactly to an online created formula
Panaceutics Inc and Triangle Compounding Pharmacy Inc are wholly owned subsidiaries of Panacea BioMatx Inc, a Delaware Corporation.