Auritec Pharmaceuticals Inc is a small company with operations in the US, Canada and Europe specializing in innovative, extended release drug delivery systems. Auritec was founded by Thomas J Smith, MD. Dr Smith was previously Medical Director and Chairman at Control Delivery Systems, Inc. (CDS), where he was the co-founder, PI on key patents and remains a significant shareholder. CDS is a successful device company specializing in ophthalmic extended release therapies marketed through its commercial and R&D partner, Bausch & Lomb. Dr Smith is joined on Auritec's management team by Gary Ransom, a seasoned international business executive, who focuses on strategy, marketing and business development.

Auritec has developed a novel approach to small molecule extended release drug delivery with implications so far for the treatment of certain CNS, and certain hypertension indications, as well as for antibiotics effective against bioterrorism agents. With a first round of funding in place and over 30 patents filed, Auritec is actively proceeding through its proof of concept phase with an eye toward commercialization of the technology in the next 18-24 months.

Auritec’s primary objective is to develop and test the use of its Plexis(™) platform in a wide range of drug classes, and subsequently license the technology to key partners to continue development, trials and eventual commercialization.