Penn-Century Inc.
A device manufacturer for aerosol medicine
Monday, September 12, 2011
Embassy Suites, Chesterbrook, Pennsylvania (directions)
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About
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Penn-Century is the exclusive manufacturer of long, narrow drug delivery devices used for targeting aerosol medicine directly to the lungs, and other inaccessible areas of the body. They are currently sold for pre-clinical animal research only.
Penn-Century MicroSprayers® (liquid) and Dry Powder Insufflators™ are in wide use by more than 700 leading pharmaceutical and biotech companies, academic, government and contract research labs throughout the world for pulmonary drug testing and development. They have been cited in more than 800 scientific publications that offer compelling evidence of the benefits of targeted aerosol administration of diagnostics and therapeutics for a broad spectrum of pulmonary and systemic diseases.
The company is a small, self-funded and profitable S-Corp, based in Wyndmoor, PA. It was founded by Theodore J. Century, PhD. (Incorporated 1997) and is co-owned with his wife Jane Century. Penn-Century seeks to attract a strategic partner or acquirer that can scale the current pre-clinical business and ultimately commercialize the devices for human and veterinary uses.
The company has 10 issued patents, with no prior art for its core technology, and has recently filed a new patent designed to extend the life of earlier patents while significantly expanding the opportunities for human applications. The devices are highly profitable, and are made of sterilizable materials and are reusable.
3 Major Issues
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Our production capacity is limited but demand continues to grow. How do we take time to expand our production capacity, which is largely centered in one person - without upsetting our customers? (This is the central problem we face.)
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We have had excellent success with an innovative technology in animal models. What will a strategic partner or acquirer be looking for from us to make the case for clinical commercialization? (How important is it to get a 510K on our own?)
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We are a self-funded company of three people. Is there some way we can attract an investor who could bring not only additional resources, but become a part of the team - with added management, financial, regulatory and med device experience?
Program:
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6:30 - Cocktails & Dinner (Cash bar and special 2-entree buffet menu)
8:00 - Jane Century, VP Operations of Penn-Century, will deliver the Company's "Elevator" Pitch to the Group
8:20 - A Panel will address 3 Major Issues for the Company
9:00 - Open discussion: members and guests
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