UK-based biotechnology company Critical Pharmaceuticals is to collaborate with the University of Nottingham for the development of a nano-enabled intranasal formulation of teriparatide.

Funding worth £545,000 has been provided by the Technology Strategy Board and the Engineering and Physical Sciences Research Council to support the project, designed to create a technology-enabled treatment of osteoporosis.

Teriparatide is commonly used to treat osteoporosis but is currently administered through a daily injection.

The collaboration hopes to develop a nasal spray formulation of the drug, enabling patients to easily administer teriparatide themselves and enhance the drug’s overall efficacy.

Critical Pharmaceuticals hopes to use its CriticalSorb nanotechnology, a best in class absorption promoter that is currently being used alongside a nasal formulation of human growth hormone (CP024), currently in phase I clinical development.

Osteoporosis affects an estimated 75 million people across Europe, the US and Japan.