Colorado MEDtech Inc. to develop dry powder inhalation drug delivery device for Dura Pharmaceuticals.BOULDER, Colo.--(HealthWire)--June 21, 1995--Colorado MEDtech Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CMED CMED Coordinated Medical Emergency Direction CMED Central Massachusetts Emergency Dispatch ), a Boulder-based medical products/service company, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. RELA Inc., has been awarded a contract by Dura Pharmaceuticals Inc. (on behalf of Dura Drug Delivery Systems Inc.) to assist in the development of their second generation dry powder inhalation device. The potential value of the contract is $1 million. Successful development of the device could lead to a manufacturing contract estimated at several million dollars. "We looked at several companies for the design, development and manufacture of our dry powder drug delivery device. Our decision was that RELA has the necessary technical competence and experience and is the best suited firm to carry this challenging project to a successful completion," said Cam L. Garner, Dura's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Colorado MEDtech's President and CEO John V. Atanasoff, said, "The project poses a number of technological challenges which Colorado MEDtech is well qualified to solve. We believe ths product we deliver will enhance Dura's growing presence as a major player in providing means for treating respiratory diseases." Dura Pharmaceuticals Inc. is a San Diego-based developer and marketer of prescription pharmaceutical products for the treatment of allergies, asthma and related respiratory conditions. Dry powder drug delivery technology offers an excellent form of topical treatment for many respiratory diseases such as asthma, bronchitis, emphysema emphysema (ĕmfĭsē`mə), pathological or physiological enlargement or overdistention of the air sacs of the lungs. A major cause of pulmonary insufficiency in chronic cigarette smokers, emphysema is a progressive disease that commonly , and cystic fibrosis. Potential benefits can include rapid onset of action onset of action Pharmacology The length of time needed for a medicine to become effective. See Therapeutic drug monitoring. , lower doses and fewer side effects. Pulmonary delivery can also offer the potential for a non-invasive means of delivering non-respiratory drugs systematically, including novel therapeutics such as proteins and peptides, utilizing the highly absorbent tissue of the lungs. Currently available metered dose inhalers utilize chlorofluorocarbons chlorofluorocarbons (klōr'əfl  r`əkär'bənz, klôr'–) (CFCs), organic compounds that contain carbon, chlorine, and fluorine atoms. to propel the drug to the lungs. CFC CFCSee: Controlled foreign corporation propellants are known to have a damaging effect on the ozone layer of the earth, and are being phased out of use worldwide. RELA is a custom product developer and manufacturer of diagnostic and therapeutic devices for the healthcare industry. Colorado MEDtech develops, manufactures and markets computerized diagnostic testing equipment for use in cardiopulmonary medicine and respiratory care. CONTACT: Colorado MEDtech Inc., Boulder John V. Atanasoff or Bruce L. Arfmann, 303/530-2660 Fax: 303/581-1010 bla@rela.uucp.netcom.com |
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