Critical Pharmaceuticals is a drug delivery company with breakthrough technologies for the sustained release and nasal delivery of proteins and peptides and labile or insoluble small molecules. Critical Pharmaceuticals was founded by Professor Steve Howdle in 2002 based on his research into supercritical fluids. When gases reach a certain temperature and pressure (the critical point) they become "supercritical" and take on both gas and liquid like properties. He noticed that supercritical carbon dioxide (scCO₂) was able to penetrate certain polymers, and in a moment of inspiration realised that this could be used to mix thermally labile or solvent sensitive substances into the polymers.

After a considerable amount of research he discovered that it is possible to liquefy poly(lactide-co-glycolide) (PLGA), and poly(lactic acid) (PLA) at near ambient temperatures in the presence of scCO₂. These two polymers are biodegradable and biocompatible and have been approved by the healthcare regulatory agencies for use in medical devices and for drug delivery for over thirty years. Once liquefied by the scCO₂ it is possible to mix in almost any other substance, and when the pressure is released the polymers solidify around the substance, trapping it homogeneously dispersed throughout the matrix. The technology benefits from the fact that proteins and peptides, as well as most small molecule drugs, do not interact in anyway with supercritical CO₂ so there are no issues with drug stability. When put inside the body the polymers slowly release the encapsulated substance as they degrade.

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