Eiffel to collaborate with Singapore company

Eiffel Technologies (ASX: EIF) has signed an agreement with Singapore company NanoMaterials Technology to jointly develop new technology for drug reengineering.

The aim of the collaboration is to develop a hybrid technology that combines Eiffel's supercritical fluids, which provides performance benefits, with NanoMaterials' high gravity controlled precipitation technology, which brings with it advantages in production efficiency, opening up potential commercial opportunities for reengineering drugs where cost is an issue.

Feasibility studies are underway in Singapore to test the hybrid concept on anti-inflammatory and asthma drugs with results expected in August. If successful the companies expect to work together on drug targets that are underperforming or under threat from generic competition.

"Successfully combining these complementary nanotechnologies would enable us to aggressively pursue the re-engineering of cost sensitive drugs, through our own development work or in collaboration with the owners of the drugs under competitive threat," said Eiffel CEO Christine Cussen.

The two companies will jointly own new technology developed as a result of the collaboration.