–News Direct–
Willow Bioscience CEO Dr Chris Savile joined Steve Darling from Proactive to announce a groundbreaking development in the pharmaceutical industry.
Savile shared the company's achievement in creating a cost-effective process for producing corticosteroids using their innovative BioOxi platform. This novel approach to efficient bio-hydroxylation has the potential to revolutionize corticosteroid manufacturing.
Corticosteroids are widely used for their anti-inflammatory and immunosuppressant properties, making them essential drugs in medical practice. With the corticosteroid market projected to grow to $5.93 billion by 2026, ensuring a stable supply chain is crucial. However, a significant portion of corticosteroid production occurs outside the United States, leading to potential supply chain vulnerabilities and shortages for drug manufacturers.
Savile explained that Willow Bioscience's BioOxi process represents a significant advancement by substantially reducing the production costs of corticosteroids. This breakthrough is anticipated to make domestic manufacturing more competitive, encouraging the onshoring of corticosteroid production and reducing supply chain risks.
If granted, the patent protection for this process could offer a remarkable competitive advantage to pharmaceutical manufacturing partners.
The development of a cost-effective corticosteroid manufacturing process highlights Willow Bioscience's commitment to innovation and addressing critical challenges in the pharmaceutical industry. By leveraging its BioOxi platform, the company is not only transforming manufacturing practices but also contributing to the security and availability of essential medications for patients worldwide.
Contact Details
Proactive Investors
+1 604-688-8158
View source version on newsdirect.com: https://newsdirect.com/news/willow-bioscience-files-patent-to-help-reduce-costs-of-corticosteroids-920278835
Willow Biosciences Inc.
COMTEX_439505995/2655/2023-09-04T13:31:30
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