September 5, 2018
AcuityBio and Cook Biotech announce agreements for strategic collaboration and development of AcuityBio’s ABC103
NEWTON, Mass., and WEST LAFAYETTE, Ind. – AcuityBio Inc., a developer of novel drug-delivery, combination products, announced Wednesday (Sept. 5) that it has entered into agreements with Cook Biotech Inc., a leader in advanced biomaterials and regenerative medicine.
Under the terms of the agreements, both companies will collaborate in the advancement of AcuityBio’s ABC103 lead product for lung cancer, which will utilize Cook Biotech’s proprietary extracellular matrix (ECM) technology.
“We are excited about the possibilities that this new collaboration brings,” said AcuityBio President and CEO John “Jay” Schwartz. “We believe that the solidification of our relationship with Cook Biotech will allow us to build on our two companies’ strengths, such as AcuityBio’s drug-delivery expertise and Cook Biotech’s unique medical device technology platform, know how, and market experience. Working together will speed development of our combined AcuityBio-Cook Biotech lead product for lung cancer, ABC103, ultimately providing a solution to a critical unmet medical need and the betterment of patient outcomes.”
Cook Biotech President Umesh Patel said, “For more than 20 years, our ECM technology has been used to improve the lives of patients worldwide. We are excited to partner with AcuityBio to help bring a medical solution that can potentially save lives.”
The terms of the agreements remain confidential.
AcuityBio has developed a platform technology for localized, sustained, safe drug-delivery to be used in the prevention of post-surgical lung cancer recurrence. ABC103 combines approved/cleared surgical staple-line buttress, drug eluting polymers and a chemotherapeutic drug, paclitaxel). ABC103 has been granted US FDA orphan drug designation for this indication. Phase I clinical testing of ABC103 is scheduled to commence late 2019. Other applications for ABC drugd elivery platform in are under development. For more information visit www.acuitybio.com.
About Cook Biotech
Cook Biotech Inc. develops and manufactures medical products for tissue repair and regenerative medicine applications using proprietary extracellular matrix (ECM) technologies and processes. Cook Biotech products are marketed and distributed under several brand names, including Biodesign and OASIS. Cook Biotech collaborates with partners and distributors, including AxoGen Inc., Aziyo Biologics, Cook Medical Inc., Cormatrix, Katena Products Inc., Keystone Dental Inc., Progressive Medical Inc., and Smith & Nephew Inc. to develop new products and provide technical support. Cook Biotech was established in 1995 and is affiliated with Cook Medical Holdings in Bloomington, Indiana. It is located in the Purdue Research Park in West Lafayette, Ind. For more information, visit www.cookbiotech.com.
AcuityBio’s Forward-Looking Statement Disclaimer Various statements in this release concerning AcuityBio’s future expectations, plans and prospects, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors. In addition, any forward-looking statements represent AcuityBio’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. AcuityBio does not assume any obligation to update any forward-looking statements unless required by law.
AcuityBio Contact: John “Jay” Schwartz, PhD, CEO and president firstname.lastname@example.org
Cook Biotech Contact: Dennis Abbott, director of Global Business Development, email@example.com