CritiTech sets up JV with India's Finoso Pharma for APIs

USA-based CritiTech and privately-held Indian group Finoso Pharma have formally established a joint venture which will be named Finotech Pharma with a business office in Lawrence, Kansas, USA.

This joint venture will provide alternative active pharmaceutical ingredient (API) size reduction technology and particle design services to the pharmaceutical industry with associated formulation services to meet R&D and early clinical trial supply needs. These particles are designed to be used in a variety of formulated products that enable the delivery of oral dosage forms, intravenous suspensions and inhalation products.

Consistent with the agreement announced last week, the companies are participating in a 50/50 joint venture. Finoso Pharmaceuticals has contributed its existing facility and experienced staff located in Hyderabad, India. CritiTech is providing specialized fine-particle production equipment, new technologies, technical expertise and business and marketing support. This development is the first time that CritiTech’s technology has been deployed outside of the USA and reflects the growing importance of repositioning existing products through innovative delivery technology.