I-Tech sets its sights on large-scale Selektope® production in Europe
2018-07-06.
To satisfy increasing customer demand for antifouling coatings including Selektope® in the marine market, Swedish bio-technology innovator I-Tech AB plans to evaluate an advanced European manufacturer of active pharmaceutical ingredients and intermediates as its large-scale production partner in Europe.
Within an agreed timetable, I-Tech and its potential manufacturing partner aim to optimize and adapt I-Tech processes for production of Selektope® at scale at an existing plant. The development program is of strategic importance for I-Tech as it supports the company’s long-term aim to continuously strengthen the supply chain and maximize the delivery capability for Selektope®.
Having recently acquired the IPR and technical expertise to undertake the Selektope® synthesis, and appointed a new supply chain and logistics manager, the new initiative aims to further strengthen the I-Tech supply chain, and improve the competitive edge in its key markets.
Selektope®, chemically known as medetomidine, is an organic, non-metal compound that is very efficient at preventing barnacle fouling when used in traditional marine coating systems. Characterized by high efficacy at extremely low concentrations (0.1% w/w) with ultra-low leaching, the biocide repels barnacle settlement on ships’ hulls by temporarily stimulating the barnacle larvae’s swimming behavior. Tests have shown that antifouling coatings containing Selektope® offer superior hard fouling protection, resulting in lower water resistance and decreased fuel consumption, in addition to reduced maintenance costs.
Philip Chaabane, CEO I-TECH AB, comments: “In recent years, I-Tech has been successful in scaling up the production of its unique technology from quantities measured in kilos to a robust manufacturing platform producing at multiple tons scale. As customer demand continues to increase, it is important for I-Tech to develop redundancy as well as competitive scale in its manufacturing capability. This evaluation program supports our long-term goals for Selektope® to prosper and meet increasing demand in key markets”
About I-Tech
I-Tech is a biotech company that has developed and sold the product Selektope®, an active substance that counteracts marine growth on surfaces such as ships and boat hulls, but also other marine installations. By increasing the resistance to growth in marine paint systems (eg Antifouling coatings), fuel and maintenance costs are reduced. I-Tech has obtained the necessary regulatory approvals for Selektope and has several of the world's largest manufacturers of marine color as customers. The company's share is listed for trading on Nasdaq First North in Stockholm with Erik Penser Bank as Certified Adviser. For further information, see: www.i-tech.se
Tags: