In December 2006, MacroMed, Inc., a private drug development and manufacturing company, signed an agreement to be acquired by the UK-based biopharmaceutical company, Protherics PLC, pursuant to an agreement and plan of merger and reorganization. The merger is an all-stock acquisition of MacroMed and its lead product, OncoGel(R), a novel sustained-release formulation of paclitaxel being developed for local administration in the treatment of esophageal and brain cancer. MacroMed was founded by the world-renown University of Utah professor, Dr. Sung Wan Kim. The focus of the company is to create new formulations of existing drugs using its novel polymeric technologies. MacroMed's technology platform includes ReGel(R), a temperature-sensitive, bioerodible hydrogel, HySolv(TM), a drug solubilizer, and SQZGel(TM), an oral sustained-release technology. The company's lead product, OncoGel, is currently completing a phase 2a clinical study for the palliation of esophageal cancer and is expected to enter clinical trials in 2007 for the local treatment of brain cancer.
