Estonian pharmaceutical firm The J. Molner Company, which specializes in generic drug development, has successfully presented its first submission to Canadian state health policy department Health Canada/Santé Canada.
The J. Molner Company founder and CEO Jason Grenfell-Gardner said: "This is the first application to Health Canada for the registration of a licensed product by The J. Molner Company, with which we plan to strengthen our position on the North American market."
"To our knowledge, we are the first Estonian company to have a drug submitted to the Canadian market," Grenfell-Gardner continued, via a company press release.
The drug in question, generic injectable cardiac drug, MOC-001, is used, for example, in surgery and first aid to correct blood pressure, and is expected to be approved next year
As noted it will become the first Estonian drug approved for sale in Canada.
Earlier this week J. Molner AS, the holding company of The J. Molner Company, also announced its plans to conduct an initial public offering of shares (IPO) whose proceeds it says plans to use in the further development of its international business, while the total volume of the offering is planned to be in the range of €1 million.
Molner develops specialty generic pharmaceutical products for the markets in North America where the company operates offices in Jersey City (New Jersey) and Toronto (Ontario), respectively, while its research team in Estonia is located at the Tehnopol in Mustamäe, Tallinn.
J. Molner AS is a holding company with three subsidiaries: The J. Molner Company OÜ (Estonia), The J. Molner Company Inc. (Canada) and The J. Molner Company LLC (US), together employing around 20 people.
The Estonian arm, The J. Molner Company OÜ generated a turnover of about €162,000 in the first half of 2022 from research and development services to other pharmaceutical companies.
Molner is focused on specialty generics, primarily working on products like sterile injectable drugs in vials and ampoules for hospitals and clinics, and forms like topical drugs for dermatology. Molner relies on contract manufacturing facilities to make the products.
Editor: Andrew Whyte
Source: Incorpore.ee/The J. Molner Company