Anesta Corp. was founded in 1985 on the premise that drugs for sedation and pain in hospitals and for cancer pain management could be delivered effectively through sucking on a lozenge.
Businessman Bill Moeller and U. anesthesiology professor Ted Stanley set out to commercialize this new "oral transmucosal" drug delivery system in both lozenge and lozenge-on-a-handle form. The system had great promise because drugs are absorbed more quickly through the lining in the mouth than through a pill swallowed into the stomach.Already, Anesta's Fentanyl Oralet has been approved by the FDA as a sedative for use prior to surgery. The company is developing OT-nicotine for smoking cessation and OT-etomidate for short-acting sedation in an outpatient setting.
The smoking cessation product holds promise because it delivers nicotine to the blood in a system that closely resembles the hand-mouth activities that are part of the smoking habit.
Anesta officials are also hoping for approval of Actiq to help curb so-called "breakthrough pain" in cancer patients. The company estimates that 800,000 people would benefit from Actiq. The market potential in the United States alone exceeds $100 million.
The company has partnered with Abbot Laboratories, which markets fentanyl products in the United States. Anesta has recently recruited a European-based executive and established a European office to manage entry into those markets.
A graduate of Harvard Business School, Moeller said he sacrificed during the early years of the company's history to help it grow. Between 1985 and 1993 there were many times when failure was a real possibility. However, with perserverance and help from investors, the market value of the company has grown to nearly $200 million in 1997-98.