Southern Research Institute Spins Out New For-Profit Drug Delivery Company, Brookwood Pharmaceuticals, Inc.

Southern Research Institute today formally announced that it has launched a new for-profit company, Brookwood Pharmaceuticals, Inc., spinning out the Institute's 30-year old in-house drug delivery group which focuses on the development of time-release formulations for pharmaceuticals delivery. Brookwood Pharmaceuticals recently acquired the Ohio-based external polymer manufacturing business of Alkermes, Inc., and will operate that business as a Brookwood subsidiary called Lakeshore Biomaterials, Inc.

"Given our unique strengths, the experience and commercial expertise of our team, and our proprietary technologies, Brookwood Pharmaceuticals and Lakeshore Biomaterials are ideally positioned to have an even greater impact in serving this industry," said Arthur J. Tipton, Ph.D., president and CEO of Brookwood Pharmaceuticals.

Brookwood Pharmaceuticals initially will be wholly-owned by Southern Research Institute; both Brookwood and Lakeshore Biomaterials will be based in Birmingham. Lakeshore will be a wholly-owned subsidiary of Brookwood Pharmaceuticals.

"In spinning out Brookwood Pharmaceuticals, we are realizing an opportunity to expand one of Southern Research's most successful commercial businesses, giving it room to grow and capitalize on the strength the team has long held in the drug delivery marketplace," says Robert C. Lonergan, Southern Research president and CEO.

The Brookwood scientific team has experience in virtually all drug delivery systems and is internationally recognized for its contributions to the drug-delivery field since the pioneering days of controlled release technology in the 1970s. While at Southern Research, the group created the first commercialized injectable microsphere product. Tipton said the group will primarily focus on long-acting parenterals, microparticles, implants, vaccine delivery, and clinical trial and commercial manufacturing, with much of the formulation work is based on biodegradable polymers.

Lakeshore Biomaterials will supply biodegradable polymers to new customers, support the long-term requirements of the external polymer customers previously supplied by Alkermes, and serve as a back-up supplier for Alkermes' internal polymer requirements.

Both new companies are getting a warm reception from Alabama economic developers and business leaders.

"For the last 60 years, Southern Research has quietly contributed to Birmingham's growing culture of innovation. In today's competitive environment for drug discovery and development, Southern Research offers a track record of achievement," said Jim Hayes, president of the Economic Development Partnership of Alabama (EDPA). "Spinning out Brookwood Pharmaceuticals in Birmingham is a natural step for a company and a community that are at home with science and business."

Source: Brookwood Pharmaceuticals, Inc.