Cambium’s Award will help Fund Certain Enhancements to Elate Ocular® Biologic Eye Drop for Dry Eye Syndrome
ATLANTA, GA – September 21, 2015 – Cambium Medical Technologies (“Cambium” or “the Company’) announced today it received Notice of Allowance from the National Eye Institute (NEI) of the Institutes of Health (NIH) that it had been awarded a Phase I Small Business Technology Transfer (STTR) grant. The grant will be used to fund certain development activities associated with Cambium’s Elate Ocular® eye drop, an investigational biologic under development for dry eye syndrome and currently not approved for sale in or outside the United States.
“We are honored to be awarded this grant,” said Terence Walts, President & CEO of Cambium, “particularly when one reflects on how competitive NIH grants have become in recent years.” “We attribute our success in part due to an excellent team, in part because of our novel technology and its potential as a therapeutic for several diseases and conditions including dry eye syndrome, and finally because dry eye and corneal diseases remain important research priorities of the NEI,” said Walts.
Research reported in this press release will be supported by the National Eye Institute of the National Institutes of Health under Award Number R41EY026353. The content of this press release is solely the responsibility of Cambium Medical Technologies and does not necessarily represent the official views of the National Institutes of Health.
About Cambium Medical Technologies LLC
Founded in 2013 by four distinguished physician/scientists at Emory University, Atlanta, Georgia (USA)—Cambium is focused on the development of regenerative therapies through the use of novel processed human platelets. The Company holds an exclusive worldwide license to its technology from Emory University, Atlanta, Georgia for all fields of use. The Company’s first FDA approved product is targeted to be Elate Ocular® biologic eye drop for dry eye syndrome (keratoconjunctivis sicca or KCS). The Company’s first commercial product to utilize Aurarix® (Cambium’s novel processed platelets) is UltraGRO-Advanced™ for the exploding stem cell growth supplement market. First sales began in early 2015 through a strategic partner (Zheng Yang Biomedical Technology Ltd, Taipei, Taiwan). The Company’s Mission is to: “Utilize novel processed human platelets to improve quality of life…from within.” For more information about Cambium, contact David Doolittle at +1 404-840-1321 or e-mail David at firstname.lastname@example.org, or go to www.cambiumbio.com.
About the National Eye Institute (NEI)
One of 27 NIH institutes and centers, the NEI was established by Congress in 1968 to protect and prolong the vision of the American people. NEI research leads to sight-saving treatments, reduces visual impairment and blindness, and improves the quality of life for people of all ages. NEI-supported research has advanced knowledge of how the visual system functions in health and disease. For more information about the NEI please go to https://nei.nih.gov/.
About the National Institutes of Health (NIH) STTR & SBIR Programs
The NIH Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs are designed to award federal research grants to small businesses conducting biomedical research. The goal of these Programs is to spur technological innovation leading to commercialization of novel innovative medical technologies to improve public health. Both Programs share this common goal, but differ somewhat in eligibility and research execution criteria. The NIH STTR and SBIR Programs are highly competitive, as reflected in the following award data statistics for Phase I STTR awards for fiscal years 2005-2014 available at https://sbir.nih.gov/statistics/award-data. To summarize, 1) only 19% of all Phase I STTR applicants during this period were awarded a Phase I STTR grant; 2) only 16% of all Phase 1 STTR and SBIR applicants during this period were awarded a Phase I STTR grant; and finally 3) only 14% of all STTR and SBIR applicants (all Phases) were awarded a STTR grant during this period. For more information about the NIH STTR &SBIR Programs, please go to https://sbir.nih.gov/.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to, statements regarding the expected benefits of the Company’s technologies, investment in product development, possible future financings or other activities and/or statements preceded by, followed by or that include the words “believes,” “could,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “projects,” “seeks,” “potential,” “targets” or similar expressions. Investors are cautioned that all forward-looking statements involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements for any reason. All forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to update such forward-looking statements.