No-needle drug delivery

Glide Pharma, which develops products based on its needle-free drug delivery system, has raised £2.3m to fund clinical trials of a new drug.

Oxford Technology 4 VCT was one of the shareholders who contributed to the funding, and new investors included Oxford Capital Partners.

The funding will allow Glide Pharma to put its new drug product, GP02, into clinical trials in autumn 2007. This product is a needle-free version of immediate release octreotide acetate, which is used to treat neuroendocrine tumours and acromegaly, a potentially fatal chronic condition caused by abnormally high levels of growth hormone that cause enlargement of body tissues, facial bones, hands, feet and skull.

Based at Milton Park, Oxfordshire, Glide Pharma has developed a system that injects drugs as a solid dose into the skin without a needle. It claims that the device is ideal for self-administration of drugs at home and for those who have needle phobia.