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Cytokine
PharmaSciences ("CPSI") is the result of the
June 1999 merger of PharmaSciences, Inc. ("PSI")
into Cytokine Networks, Inc. ("CNI"). CNI was formed
in 1993 to further discoveries made at a nonprofit charitable
trust called The Picower Institute for Medical Research ("PIMR").
PSI was founded in 1992 and, in May 1993, acquired Controlled
Therapeutics (Scotland) Limited ("CTS"). CTS, formed
in 1986, developed the Cervidil®
vaginal insert (Propess®
in certain countries) based upon its proprietary polymer drug
delivery technology.
CPSI currently
operates out of its headquarters in King of Prussia (near
Philadelphia), Pennsylvania. CTS is located in East Kilbride
(near Glasgow), Scotland. CTS’ operations include both
manufacturing and development, the latter focused on the Company’s
drug delivery products. The manufacturing facilities comply
with cGMP requirements and have been inspected and approved
by US, UK and other regulatory authorities.
CPSI follows
a risk-balanced model under which it acquires technologies
from academia and other sources, conceives products from those
technologies and takes the products through clinical development.
These products are then out-licensed to third parties, either
for further development or marketing. In the future, the Company
intends to selectively retain commercial rights for some of
its products in order to become a more integrated biopharmaceutical
company.
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| CPSI
Timeline |
| 1992 |
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PharmaSciences,
Inc. founded in Pennsylvania by pharmaceutical executives
Richard P. Storm and Dennis F. Willson. |
| 1993 |
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Cytokine
Networks, Inc. formed to develop technologies licensed
from The Picower Institute for Medical Research. |
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Acquisition
of Controlled Therapeutics (Scotland), Ltd. |
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In-licensing
from BTG, plc, of London, England, of hydrogel polymer,
the foundation for company’s first product Cervidi®l/Propess®. |
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Licensing
of Cervidi®l/Propess®
to Forest Laboratories, Inc., in US. |
| 1994 |
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Licensing
of Cervidi®l/Propess®
to Ferring, BV, in Europe and Canada. |
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1996 |
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Approval
and launch of Cervidi®l/Propess®
in the UK and US, respectively. |
| 1998 |
— |
Cytokine
Networks, Inc. begins clinical development of CNI-1493
(now called semapimod)
and the FibroVax™ cancer
vaccine. |
| 1999 |
— |
Merger
of PharmaSciences with Cytokine Networks, Inc., of Seattle,
Washington, to form Cytokine PharmaSciences (CPSI). |
| 2000 |
— |
Cytokine
PharmaSciences enters into joint venture with Elan Pharmaceuticals
to develop semapimod. |
| 2002 |
— |
Rights
to all licensed technologies assigned to CPSI by The
Picower Institute of Medical Research. |
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Acquisition
of rights to hydrogel polymer applications from CeNeS
Drug Delivery, Ltd., of Irvine, Scotland. |
| 2003 |
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CPSI
licenses worldwide rights to MIF
antibody technology to Baxter Healthcare Corporation. |
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CPSI
licenses the Misopess™
vaginal insert to Integrity Pharmaceutical Corporation. |
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