A MEDICAL firm specialising in custom prescriptions has signed a £1m deal to expand its European presence.

Quantum Pharma, in Burnopfield, near Stanley, County Durham, says its Colonis division is working with a German company.

Bosses say the agreement has seen Colonis, which develops medicines, sign an agreement with a pharmaceutical firm for a product aimed at remedying vitamin D deficiencies.

They added the tie-up for the treatment, known in the UK as Aviticol, includes exclusivity for the German firm to gain marketing sanctions in the country, which will give it the right to commercialise, make, promote, sell and distribute the product.

Andrew Scaife, Quantum Pharma chief executive, said: “This type of out-licensing deal forms an integral part of our business plan.

“As well as product development and product launches handled by Quantum in the UK, our plan also includes the out-licensing of products to third parties globally.

“This is a significant out-licence into a major healthcare market, which provides a base for further licences and product launches.

“Given we have a further 70 or so products in our development portfolio at Colonis, you can see the potential for this part of the business.”

Earlier this year, Quantum revealed a raft of new products was keeping it in good health.

The company supplies medicines to respond to a unique prescription, with its 250-strong workforce capable of altering a drug’s potency, assessing ingredients to counter allergies, and changing a medicine from tablet to liquid to cover patient needs.

Reacting to its half year results up to July 31, Mr Scaife, said it had 16 products under assessment by Government regulators.

That number is expected to rise to 28 by the end of the financial year, with up to 11 drugs due to be launched in the period.