|
| Register for our Free Newsletters |
|
 |
|
|
|
|
|
|
|
|
| Other Carouselweb publications |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Angiotech and Symphony Medical reach biomaterials agreement
|
|
Angiotech Pharmaceuticals
: 21 January, 2008 (New Product) |
|
|
Angiotech Pharmaceuticals and Symphony Medical have entered into an exclusive licensing agreement to employ one of Angiotech's proprietary PEG-based biomaterials as part of a prophylactic therapy that mitigates the onset of post-operative atrial fibrillation (POAF) for patients undergoing coronary artery bypass grafting and cardiac valve surgeries. |
|
|
'This agreement is another example of our continuing effort to lessen the complications and improve the outcomes of patients living with cardiovascular disease,' said Dr Bill Hunter, president and CEO of Angiotech. 'Our innovative use of cutting edge, site-specific therapy has been central to the development of coronary and peripheral drug-eluting stents, anti-restenosis therapy in bypass surgery and haemodialysis access procedures, and more recently, coronary stem cell therapy and treatments for arrhythmias following open heart surgery.'
Symphony Medical has been engaged in the development of non-destructive biocompatible polymer therapies to treat significant cardiac conditions such as atrial fibrillation and congestive heart failure since 2003. The company's lead programme involves the development of a prophylactic injection of biopolymer to prevent or reduce the incidence of POAF that occur following coronary artery bypass grafting (CABG) and cardiac valve surgeries. The product under development is a kit that employs a biopolymer, applicator and specialised electrical stimulation device. The concept is protected by a number of patents that are currently pending.
'We are excited about the opportunity to work with Angiotech's Biomaterial to address a large unmet clinical need in POAF. According to numerous clinical studies, on average, 40 percent of patients who undergo CABG and coronary valve surgeries develop atrial fibrillation. Based on the success of our preclinical animal model, we have already received EU and Institutional Review Board approval for our 60 patient multi-centre 'randomised safety study' in Germany and expect to begin enrolling patients in the first quarter of 2008,' said Raymond W Cohen, CEO of Symphony.
Under the terms of the agreement, Angiotech has been granted an equity position in Symphony Medical in exchange for the exclusive license of Angiotech's technology in the field of POAF. In addition, Angiotech will receive a royalty on end-user product sales should the product receive regulatory approval and is commercialised.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
