Receives Innovative Tech Contract from Vizient
Circassia Receives Innovative Technology Contract from Vizient, Inc. for NIOX VERO® Asthma Management Products
Oxford, UK - 8 February 2018: Circassia Pharmaceuticals plc ("Circassia" or "the Company"; LSE: CIR), a specialty pharmaceutical company focused on respiratory disease, today announces that it has received a multi-year Innovative Technology contract for its NIOX VERO® asthma management products from Vizient, Inc., the largest member-owned health care company in the United States. The contract was based on the recommendation of hospital experts with expertise in this category who serve on one of Vizient's member-led councils. Innovative Technology contracts are reserved for technologies that demonstrate an ability to enhance clinical care or patient safety, and those that improve an organisation's care delivery and business model.
Circassia's NIOX VERO® products are used to assist asthma diagnosis and management, and are indicated in the United States for use in those aged 7 years and older. NIOX® is based on the discovery that patients with Th2 or type 2 driven airway inflammation, the major underlying cause of asthma, generally have higher than normal levels of nitric oxide in their exhaled breath. By measuring the concentration of this fractional exhaled nitric oxide (FeNO), NIOX® enables clinicians to evaluate airway inflammation in patients with underlying asthma, aiding diagnosis and helping guide treatment and reduce exacerbations.
Steve Harris, Circassia's CEO, said: "Circassia is proud to be awarded this prestigious Vizient Innovative Technology contract, which recognises the important role NIOX VERO® plays in assisting asthma diagnosis and management. Vizient is the largest member-driven healthcare improvement company in the United States, and its diverse membership and customer base includes academic medical centres, paediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers with combined purchasing volume of approximately $100 billion annually. This new contract will provide Circassia with a simplified route to access Vizient members as potential new customers, helping us expand our number of accounts while offering savings opportunities for NIOX® users."
Vizient, Inc. represents the combined strengths of the organizations formerly known as VHA Inc., University HealthSystem Consortium, Novation and MedAssets' Spend and Clinical Resource Management. Since 2003, nearly 2,200 new and innovative products and technologies have been submitted through the Vizient Innovative Technology program. Vizient works with member-led councils and task forces to identify and review potentially innovative products. If it is determined that a product is innovative, a contract may be awarded outside of Vizient's competitive bid cycle.
About Circassia
Circassia is a world-class specialty pharmaceutical business focused on respiratory disease. Circassia sells its novel, market-leading NIOX® asthma management products directly to specialists in the United States, United Kingdom and Germany, and in a wide range of other countries through its network of partners. The Company recently established a collaboration with AstraZeneca in the US in which it promotes the chronic obstructive pulmonary disease (COPD) treatment Tudorza®, and has the US commercial rights to COPD product Duaklir®.
Circassia's development pipeline includes a range of respiratory medicines. The Company's lead asthma treatment targets substitution of GSK's Flixotide® pMDI and was approved in the UK. Circassia is also developing a direct substitute for Seretide® pMDI, and its pipeline includes a number of inhaled medicines for COPD, including single and combination dose products. For more information on Circassia please visit www.circassia.com.
Contacts
Circassia
Steve Harris, Chief Executive Officer Tel: +44 (0) 1865 405 560
Julien Cotta, Chief Financial Officer
Rob Budge, Corporate Communications
FTI Consulting
Simon Conway / Mo Noonan Tel: +44 (0) 20 3727 1000
Forward-looking statements
This press release contains certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of Circassia. The use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target" or "believe" and similar expressions (or the negatives thereof) are generally intended to identify forward-looking statements. These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any of the assumptions underlying these forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the forward-looking statements may not actually be achieved. Nothing contained in this press release should be construed as a profit forecast or profit estimate. Investors or other recipients are cautioned not to place undue reliance on any forward-looking statements contained herein. Circassia undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new information, future events or other circumstances.
This information is provided by RNS
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