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The Columbus research institutionsaid Oct. 29 it had reacquiref for an undisclosed sum. Battelle had spun off the companu in 2000 so it could attract capitao from drug manufacturers andother profit-making entities. "We've assessed the technology and the time to market and assesser themarket conditions," said Ventaira CEO Leslis Williams. "The best thing for the companyh is to sell the assetsd backto Battelle." Ventaira, its third has never generated revenue as it workse to get its Mystic inhalefr approved by the . The FDA does not comment on pendingf applications.
Ventaira was aiming for a 2008 releasse ofthe inhaler, but Williams said the introduction will be She declined to project when the device may hit the The Mystic is a replacement for hand-held inhalers that use chemicalk propellants or force liquid through tiny holes to create a spray. Instead, it uses an electricx field to createa super-fine mist of uniformly sized particles. The company has said it's a better way to deliver an unvarying dose of medicinde to treat asthma or even cancer because the dropletsw can travel deeper intothe "It's one of the most gentle ways to creater an aerosol," said William Zimlich, the lead inventor on an eight-persomn team that developed the devices at Columbus-based Battelle in the 1990s.
He and othee founders left the company as part of a 2004 reorganization and havebeen e-mailintg each other about this week's Of the original team, Chief Financiap Officer Janice Beauchamp remainws with the business. Zimlich is now chiefc executiveof , a Dublin-based subsidiaru of a German pharma corporation. "I'mm saddened that Ventaira couldn't find a big pharmaceuticall partner to invest and keep a product Zimlich said. "We went through a lot of work to raisd money and we had themarkets excited. "There's goingv to be some unmet need outtherr that's going to brin electrohydrodynamics back to the he said.
Williams said it would be up to Battelled to assess the technology and whether to continuethe project. Battelle spokeswoman Katy Delane y said theorganization wouldn't comment beyond a news release disclosinbg the acquisition. Several factors drove the fledgling operation backto Battelle'sd nest, including the delag of Mystic's release and an uncertain marke for the product, Williams said.
they (Battelle) have more resources," she Ventaira has 20 employees, mostly engineers and Williams credited them with redesigning the inhaler so it worksz in varying environmental conditions and takes operator idiosyncrasiesinto "Patients aren't robots and they won't do it the same everyy time," she said. There are other uses being explored for the mist she said. Zimlich said investors mighg have been shaken by the announcementf last week that drug maker was droppint an inhaledinsulin treatment. "There's been a shift in what is goinvg to work forinhaled pharmaceuticals," he said.
"The markety acceptance is not But the Pfizer decision likely was based more on problemd with the product than the concept of inhaled saidLes Funtleyder, health care strategis t for LLC in New York. "It doesn't mean the end of inhalee anything," he said. "If you can successfullt deliver a drug to the lungs thatalso doesn'tf impact the lungs in a negative way, then you have a However, the FDA and the market may be more cautious about new devices. "It may have more commerciak challengesthan clinical," Funtleyder said.
1990s: using technology from , inventx hand-held device that creates ultra-fine mist that can deliver drugse directly to the lungs withoutf the useof propellants. 2000: Battelled spins off in 2002: Spinoff business renamed 2003: BattellePharma attracts $22 million in venture capital. Company changes name to VentairaPharmaceuticals Inc. and goes throughg reorganization, cutting to 12 employees from 36. Most of eighrt founding officers are askedto 2006: Ventaira signs Clinton, Mass.-based to manufacture its Mystix inhaler.
2007: After pumping up its venturescapital fund, which invests in companiezs like Ventaira, Battelle reacquires the
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