|
MediVas, LLC, Signs Licensing Agreement with Picarus NV of
Luxembourg for Drug Delivery Technology for Drug Eluting Stents
San Diego, CA -- July 25, 2005 -- Kenneth Carpenter, President and CEO of MediVas LLC, a San Diego based biomaterials company, and Ronald Horvers, Chief Executive Officer of Picarus NV announced today the signing of an agreement for the use of the MediVas biomaterial drug delivery technology in conjunction with Picarus' core technology to develop drug-eluting stents (DES) for the treatment of patients suffering from coronary heart diseases.
The development of drug eluting stents has grown rapidly since DES became the standard of care for treating coronary blockages in the US and in Europe. Latest clinical research findings indicate that DES reduce the need for repeat percutaneous transluminal coronary angioplasty (PTCA) due to restenosis, a renarrowing of the widened coronary segment within about six months of the procedure. Drug eluting stents have substantially contributed to the expansion of the stent market since its inception and worldwide sales now exceed $ 5 billion. Recently raised issues of late stage in-stent thrombosis and in-stent restenosis point to the need for ongoing development of both therapeutic compounds and delivery polymers which will continue to improve the performance of DES in a variety of vascular applications.
MediVas LLC is the leading developer of a new generation of protein-like polymeric biomaterials for drug and biological delivery. Its polymers are used for a wide range of medical applications from coating surgical implants to cell mediated immune response vaccines. MediVas polymers are made from essential amino acids which make them highly biocompatible. MediVas polymers are absorbed without inducing an inflammatory response, have excellent hemocompatibility and provide controlled drug release over sustained periods, making them ideally suited for drug delivery applications such as drug eluting stents.
Picarus NV is a biomedical technology development company headquartered in Luxembourg. Picarus currently holds intellectual property rights to multiple therapeutics useful for biomedical applications. Under terms of this agreement Picarus will develop two new drug eluting stent platforms using their proprietary therapeutics and a MediVas polymeric delivery system.
"Picarus has rights to a number of interesting new approaches to the drug eluting stent market, all of which benefit from the MediVas biopolymer delivery systems," said Kenneth Carpenter. "MediVas will provide its biomaterials expertise to Picarus in developing those technologies into a new generation of products for the interventional market."
Ronald Horvers commented, "Picarus is developing new technology which has the potential to expand the uses and the efficacy of drug eluting stents. These new compounds have the potential to be safer and more effective than current DES products."
About MediVas: Since its founding in 1998, MediVas has had one simple goal - to change the way that pharmaceuticals are delivered. From small molecule drugs to whole proteins, MediVas has developed a novel platform technology that provides solutions to meet each challenge. MediVas polymers are the first of a new generation of absorbable and biocompatible drug and biologic delivery platforms. MediVas is utilizing its novel polymer technology in collaboration with some of the world's largest pharmaceutical and medical device companies, as well as our own internal product development efforts. Using this platform technology, MediVas is currently focusing its development efforts on various therapeutic areas.
Safe Harbor Forward Looking Statements
This release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange A ct of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and my be forward looking statements based on estimates and involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.
Corporate Headquarters
6275 Nancy Ridge Drive
San Diego, CA 92121
T: (858) 622-2005
F: (858) 366-7301
© MediVas, LLC
|