CUMBERLAND – Pharmaceutical developer Collegium Pharmaceutical Inc. has moved its operations out of Cumberland to more refined labs Canton, Mass., the company announced Thursday.
Collegium’s lead program, DETERx, has been put on “Fast Track Status” by the U.S. Food and Drug Administration due to its potential to address the issue of prescription drug abuse, according to the company.
“We are pleased to have completed our relocation to Massachusetts,” said CEO Michael Heffernan in prepared remarks. “It is becoming increasingly recognized that tamper-resistant, extended-release opioids play an important role in the fight against prescription pain medication abuse. Oxycodone DETERx may offer a number of significant clinical advantages over currently marketed tamper-resistant opioids for the treatment of chronic pain.”
The tamper-resistant, extended-release capsule product, now in its final stages, is intended to reduce the abuse of opioid drugs, such as OxyContin.
“The new analytical and development labs will facilitate the completion of the development of this important product,” said Heffernan.
According to the company, the technology also deters crushing, a practice which allows abusers to administer the drugs “orally, intranasally or by IV injection” in order to attain a high. Extended release formulations are often targeted due to their high dosages.
Collegium President Michael Heffernan told Providence Business News that Rhode Island lost 20 jobs in the move.
Founded in Cumberland in 2002, Collegium is a developer of late-stage, chronic pain-killing drugs and extended-release, tamper-resistant technology.
PBN is now accepting applications for its newest award program and event for RI & Bristol County to celebrate the Manufacturing Renaissance that is evolving regionally and across the country. The deadline for applications is March 20th.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.