Providence Welcomes Isis Biopolymer to the Knowledge District
Published on December 17, 2009
This morning the city of Providence welcomed Isis Biopolymer, Inc., an early stage medical device company, in being the first medical device manufacturing company to move into Providence‚??s Knowledge District. The nearly three-year old firm, originally located in Warwick, RI has established a facility at 233 Richmond Street, in close proximity to leading academic and research institutions such as Brown University and Lifespan.
Isis is the developer of the Isis Patch TM, a personalized, flexible, ultra-thin, Active Transdermal Drug Delivery (Active-TDD) patch. The patch can contain one to three medicine(s) for up to seven days of dosing. It delivers drugs at predetermined rates, can monitor and assure dosing compliance, and has the potential to eliminate nearly 80% of unwanted side effects associated with traditional medication delivery. The device is also cost effective and convenient.
The company, comprised of only three employees when it received a RI Innovation Tax Credit, has now expanded to 40 employees and is still growing, expecting to bring more jobs to the R&D and manufacturing markets. Drug delivery is currently the fastest growing segment of the pharmaceutical industry and industry sources estimate a total world market for Active-TDD of $1.2 billion - $2.0 billion.