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MannKind Corporation wins prestigious Frost & Sullivan award

Posted: March 25, 2010 1:18 p.m.
Updated: March 25, 2010 5:00 p.m.
 
MannKind Corporation today announced that in recognition of the company's accomplishments in the biopharmaceuticals market it has been awarded the prestigious 2010 North America Frost & Sullivan Entrepreneurial Company of the Year Award.

Each year, Frost & Sullivan analyzes best practices within the industry and presents this award to a company that demonstrates superior entrepreneurial ability based on the company's performance in the areas of growth strategy and implementation; degree of innovation with products and technologies; leadership in customer value, and speed of response to market needs.

In making this award, Frost & Sullivan lauded MannKind's growth strategy based on its innovative products and technologies. MannKind's lead investigational product AFREZZA(TM) (insulin human [rDNA origin]) Inhalation Powder, is a novel, ultra rapid acting mealtime insulin therapy made using the company's proprietary Technosphere(R) formulation technology.

The Technosphere technology can be applied to a wide range of drug delivery challenges and therapeutic areas, thus providing the company with a versatile asset for drug development.

"MannKind is extremely proud that an organization as eminent and experienced as Frost & Sullivan has recognized the leadership and innovation that is driving MannKind's efforts to address the challenges of our industry, and the poorly met needs of patients," said Hakan Edstrom, President and Chief Operating Officer of MannKind Corporation.

"This award is largely a testament to the entrepreneurial vision and passion of MannKind's CEO and Chairman, Al Mann, who has devoted his life to developing innovative medical products and technologies, as evident by his championing the development of our proprietary Technosphere technology that serves as the basis for AFREZZA."

"The Frost & Sullivan award is an acknowledgement of MannKind's identification of a unique and revolutionary product solution with significant market potential, and certification of the company's marketing strategy as sound and poised for success," said Frost & Sullivan Research Analyst Katheryn Symank.

In January, MannKind announced that its new, state-of-the-art commercial manufacturing facility in Danbury, CT that was custom-built for the production of AFREZZA and other Technosphere-based products received two 2010 Facility of the Year Awards (FOYA), in the categories of Process Innovation and Equipment Innovation. The awards are sponsored by the International Society for Pharmaceutical Engineering (ISPE), INTERPHEX, and Pharmaceutical Processing Magazine. MannKind's facility was the first in the history of the FOYA program to win in two categories.

About AFREZZA(TM)
AFREZZA(TM) is a novel, ultra rapid acting mealtime insulin therapy being studied for use in adult patients with type 1 and type 2 diabetes mellitus for the treatment of hyperglycemia. It is a drug-device combination product, consisting of AFREZZA Inhalation Powder pre-metered into single use dose cartridges and the light, discreet and easy-to-use AFREZZA Inhaler.

Administered at the start of a meal, AFREZZA dissolves immediately upon inhalation and delivers insulin quickly to the blood stream. Peak insulin levels are achieved within 12 to 14 minutes of administration, effectively mimicking the release of meal-time insulin observed in healthy individuals. The AFREZZA clinical program included over 5,000 adult patients.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies.

Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

About MannKind Corporation
MannKind Corporation (MNKD 6.89, -0.12, -1.71%) focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes and cancer. Its diabetes pipeline includes AFREZZA(TM) and MKC253. MKC253 is currently in phase 1 clinical trials.

In March 2009, MannKind submitted an NDA to the FDA requesting approval of AFREZZA for the treatment of adults with type 1 or type 2 diabetes for the control of hyperglycemia. In March 2010, MannKind received a Complete Response to this NDA from the FDA requesting additional information.

Currently, AFREZZA remains under regulatory review. Other products in its pipeline include the cancer immunotherapy products MKC1106-PP and MKC1106-MT, which are currently in phase 1 clinical trials.

Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website.

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