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Parallax Development Corp. (“Parallax”) and Philip Morris
International (“PMI”) will join forces to develop innovations in
alternative nicotine-delivery platforms.
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Parallax is a start-up co-founded by two leading Canadian pulmonary
physicians focused on developing an inhalable nicotine product to
provide less harmful alternatives to people who smoke.
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PMI’s stated ambition is that one out of three of its current
consumers — that’s 40 million men and women who currently smoke — will
switch to its better alternatives by 2025.
LAUSANNE, Switzerland--(BUSINESS WIRE)--Jun. 28, 2018--
Philip Morris International Inc. (NYSE: PM) takes another step towards a
smoke-free future through a strategic collaboration with Parallax, a
Canadian-based start-up. The agreement focuses on advancing the
development and commercialization of an effective nicotine-delivery
system that leverages the most advanced technologies in pulmonary
medicine.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180628005591/en/
The co-founders of Parallax, Drs. Noe Zamel and Arthur Slutsky, are
Canadian leaders in pulmonary research and medicine, with global
reputations and more than 750 peer-reviewed publications between them.
For years, they have been firm believers in tobacco harm reduction: the
policy of providing safer alternatives to people who smoke as a
complement to measures meant to encourage quitting and discourage people
from starting to smoke.
Since its founding, Parallax has assembled a world-class team of experts
in formulation, device design, pharmaceutical quality manufacturing,
product research and consumer insights.
Prof. Manuel Peitsch, PMI’s Chief Scientific Officer, stated that, “Science
and technology will be essential to a future where all men and women who
smoke switch to better alternatives. Our collaboration with Parallax,
founded by world-renowned experts in pulmonary research and technology,
is another step forward and will give us access to innovative
technologies and expertise.”
Drs. Zamel and Slutsky noted: “As physicians and co-founders of
Parallax, we believe that to save lives requires technology, innovation,
and a paradigm shift in the mainstreaming of the concept of harm
reduction.”
Steven Ellis, Parallax’s CEO, added: “Our team couldn’t be more
excited about this next step in our journey - working with the global
leader in smoke-free innovation and collaborating with its scientific
team in fulfilling our joint mission of replacing what we all know is
the most harmful delivery system for nicotine -- the cigarette -- with
innovative alternatives that clearly move smokers to a better place in
the harm reduction continuum.”
Since 2008, PMI has hired over 400 scientists and experts and invested
more than USD 4.5 billion to develop, substantiate and build
manufacturing capacity for a wide portfolio of smoke-free products. PMI
has launched IQOS, a precisely controlled heating device into
which a specially designed and proprietary tobacco unit is inserted and
heated to generate an aerosol, in 40 markets where over five million
smokers have already stopped smoking and made the change to IQOS.
PMI’s aspiration is that at least 30% of its consumers, some 40 million
men and women, will switch to its smoke-free products by 2025.
To learn more about how PMI is designing a smoke-free future, please
visit the new company website at www.pmi.com.
Philip Morris International: Who We Are
We are a leading international tobacco company engaged in the
manufacture and sale of cigarettes and other nicotine-containing
products in markets outside the United States of America. We’re building
our future on smoke-free products that are a much better consumer choice
than continuing to smoke cigarettes. Through multidisciplinary
capabilities in product development, state-of-the-art facilities and
scientific substantiation, we aim to ensure that our smoke-free products
meet adult consumer preferences and rigorous regulatory requirements.
Our vision is that these products ultimately replace cigarettes to the
benefit of adult smokers, society, our company and our shareholders. For
more information, see our PMI
and PMIScience
websites.
Parallax Development Corp.: Who We Are
Parallax Development is a life sciences development company focused
entirely on developing an innovative, multi-patented platform for
delivering nicotine to smokers – and only smokers – in the safest ways
possible. With a world-class team that brings expertise in formulation,
device design, pharmaceutical manufacturing and consumer insights,
Parallax is committed to harm reduction and its ability to save millions
of lives that would otherwise be lost to smoking-related disease.
Parallax believes that nicotine is not the problem, smoking is. In fact,
nicotine can be part of the solution.
The company has its roots in the medical community. It was founded in
Canada by Drs. Noe Zamel and Arthur Slutsky, internationally-known
pulmonary physicians and researchers in respiratory science. For more
information, see our Parallax
Development website.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180628005591/en/
Source: Philip Morris International
Media enquiries
Philip Morris International
T: +41 (0)58 242
4500
E: Ryan.Sparrow@pmi.com
or
Parallax
Development Corp.
T: +1 416 209 0312
E: Pat.Tremaine@parallaxdev.ca
