Eulysis Raises $3.2 Million to Launch the Single Vial System (SVS)
PRLog - Dec. 1, 2014 - BOSTON -- Eulysis UK Limited’s mission is to revolutionise pharmaceutical delivery globally. The Single Vial System (SVS), their unique storage and reconstitution technology for lyophilized (freeze-dried) pharmaceuticals is just 9 months away from becoming commercially viable.
With the development of the Single Vial System (SVS), Eulysis UK Limited has positioned itself at the forefront of developing innovative pharmaceutical delivery methods. Consolidating the two separate primary containers into a single integrated and compartmentalised SVS is made possible through an advanced manufacturing process that allows the integration of lyophilized (freeze-dried) active ingredients and the appropriate diluent to allow reconstitution in the same container. Founder, Ross Tsakas has been able to raise $3.2 million to commercialize this patented pharmaceutical delivery technology over the next 9 months, which would make drug production significantly cheaper.
SVS has numerous uses including, but not limited to vaccines, antibiotics, antidotes, oncology and defence medicines. Its competitive advantages are enhanced product safety, reduced risk of contamination, cost efficient production and supply chain, minimizing environmental impact and doubly expanding the access to pharmaceuticals and life-saving medicines globally. Crucially, the technology cuts pharmaceutical packaging costs by up to 50%, allowing expanded access at a discounted rate.
Eulysis won one of the four $500K awards as a runner-up in 43North, the world’s largest business idea competition that received 6,932 applications from 96 countries and all 50 states in its inaugural year. The company also raised an additional $100K from the Google Cloud Platform and have just secured follow-on investment of $1.5 million.
Randall Lane, Editor-In-Chief of Forbes Magazine, mentioned Tsakas in his article, stating, “The Scotsman is an impressive presenter with a huge, game-changing idea – a one-vial delivery system for vaccines that has applications worldwide, especially in the developing world. As Tsakas presented, one could only wonder what the Gates Foundation that has spent billions creating efficient ways to deliver vaccines to poor nations would say about his technology. Then he showed his cards; they had already given him a grant to support his research.”
Speaking about the importance of the SVS technology, Tsakas said, “Recognizing global health is in dire need of assistance, we know our technology will soon become the solution to some of the most plaguing issues. Our main objective is the alleviation of the global disease burden through incentivizing pharmaceutical manufacturers with cost savings across the entire supply chain. We want to help combat existing and future epidemics by supplying necessary medicines where and when they are needed.”
About Eulysis UK Limited:
Eulysis UK Limited is a ground breaking company, focused and committed to optimizing pharmaceutical access globally. In collaboration with the World Health Organization (WHO), the Gates Foundation and other major institutions, the company intends to commercialize their SVS technology on a global scale to provide expanded access to life-saving medicines.
Media Contact:
Name: Amy Patterson
Email: pattersonamy86@gmail.com
Website: www.eulysis.com
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Delivering Twice As Many Pharmaceuticals At Half The Cost Is Now A Reality
December 01, 2014 at 11:04 AM EST
