Merrion gets go-ahead for medicine tests
MERRION Pharmaceuticals, a Dublin-listed company that develops oral alternatives to drugs usually administered by injection, said its new factory in Dublin has been granted a licence to begin testing and producing medicines from the Irish Medicines Board.
The 30,000 square-foot facility in Citywest can now be used to develop products and manufacture drug candidates for clinical development, the company said. Shares jumped 6.5pc to €4.10 following the news.
"The granting of this license is another important milestone for Merrion, as it allows us to manufacture for clinical trials," said chief executive John Lynch. "We have a great track record of high-quality standards in rapidly developing and manufacturing products. The IMB license for our Citywest facility will allow us to expand the number of products we can develop."
The decision should help Merrion to find a partner to develop of cancer treatment Orazol, an orally formulated version of Novartis's Zometa.
It will also have the capacity to manufacture larger quantities of the oral formulations of insulin that its partner Novo Nordisk currently has in Phase I clinical trials.
Merrion bought the facility for €3.75m last July.