RALEIGH, N.C., Jan. 15, 2019 /PRNewswire/ -- StellaPharma, Inc. (Stella) announced today that it has entered into an agreement whereby Stella will acquire the assets of G2B Pharma (G2B) including IP related to a dry powder nasal formulation of epinephrine being developed for anaphylaxis. Recent U.S. FDA product approvals indicate nasal delivery can be an excellent alternative route for delivery of rescue medications during life threatening patient events.
Raleigh, North Carolina based StellaPharma was founded in 2018 by three pharmaceutical industry executives that are focused on developing therapeutic products that address unmet patient needs. Nasally delivered dry powder epinephrine, if approved by U.S. FDA, may provide a much needed and much desired alternative to epinephrine auto-injectors. Stella's executives include Steve Stefano, Executive Chairman, Thomas Parker, SVP Operations and Ted Lanpher, SVP Business Strategy. Stefano is a former 29-year GSK executive that led GSK's U.S. Payer Markets and Neurohealth Division by growing top-line revenues from $300 million to $2.5 billion. Parker and Lanpher are experienced industry veterans having developed and commercialized a range of allergy-related pharmaceutical products and services.
"A more patient-friendly route for epinephrine delivery is badly needed," said Stefano. "A dry-powder nasal spray product holds out the prospect for improving compliance as an alternative to auto-injectors."
G2B Pharma CEO and epinephrine dry powder spray inventor Dr. Nigel Fleming commented, "We are excited to see this important product move forward with the StellaPharma team and are eager to contribute to its development and commercial success."
"Epinephrine is the mainstay of treatment for severe allergic reactions," said Tonya Winders, President & CEO, of Allergy & Asthma Network, a leading non-profit organization dedicated to ending needless death and suffering due to asthma, allergies and related conditions. "An easy-to-use dry powder nasal spray product would be a welcome alternative for patients and their families."
Anaphylaxis is a life-threatening reaction with cardiovascular, respiratory, gastrointestinal, or cutaneous manifestations resulting from exposure to an offending agent, usually insect sting, food, physical factor, or medication. The World Allergy Organization estimates that as many as 45 million Americans are at risk for anaphylactic reactions to food, insect stings, latex and other triggers and globally, the at-risk population may be in excess of 150 million. Anaphylaxis is a serious, allergic reaction that is to be treated immediately.
SOURCE StellaPharma, Inc.