CAMBRIDGE, Mass.--(BUSINESS WIRE)--Today announced that Frank Reynolds Co-founder and CEO of PixarBio Corporation, and inventors of NeuroReleaseTM, a novel morphine replacement, non-opiate/opioid, non-addictive pain treatment, will receive the 2016 Irish American Healthcare & Life Sciences 50 Award at the Harvard Club in New York City on October 5, 2016. The annual Irish America Healthcare & Life Sciences 50 Award recognizes the excellence, performance, and extraordinary contributions of Irish-American leaders in fields including medical care, pharmaceuticals, biotechnology, medical devices, research and development, and life sciences venture capital.
Frank Reynolds is the co-founder, CEO, CFO, CSO, and chairman of the board of PixarBio Corporation, a Massachusetts-based specialty pharma/biotechnology company. His father Frank Reynolds is from Cloone County Leitrim, Ireland and was a successful entrepreneur in the NYC Irish community, and his mother is from Kiltamagh County Mayo, Ireland.
Frank received the Irish American Business Chambers 2015 Taoiseach Award from Anne Andersen, Ireland Ambassador to the USA, for his leadership in the Irish Business community. In 2014, Frank received a life-time achievement award from the American Spinal Injury Association for his invention of the NeuroScaffold, the first treatment to restore function in humans after traumatic spinal cord injury. In 2010, Ireland President Mary McAleese awarded Frank the 2010 Irish Life Science 50 Award. Since 2005, he’s won a variety of Irish Entrepreneurship Awards. In addition, Frank won trophies and medals for Irish step dancing as a child and performed at Irish shows at Carnegie Hall in the 1970s.
Irish culture, organizations and activities have been major impact on Frank’s success. “After being paralyzed in 1992 and emerging from bed in 1999, I reconnected to the real world through Irish business networks and activities,” said Frank Reynolds, “the Irish helped re-launch my life. I developed a treatment for paralysis with the help of Irish minds, and as I say every day, “Irish scientists rule!”
The NeuroReleaseTM Platform: Non-Addictive
and Non-opiate Treatment of Pain
NeuroReleaseTM is a morphine replacement, and non-addictive pain platform for the surgical/hospital setting, or for acute and chronic pain. First product FDA approval for the platform will be for a 14-day post-surgical pain treatment and it is expected in late 2018.
Major Benefits of NeuroReleaseTM
- Effects only sensory signals
- No effect on locomotion nerve fibers, so patients can enter physical therapy quickly
- Maintains two-point discriminate touch so patients can function
- No effect on proprioception so no effect on a person feeling of well-being
Therefore, patients will maintain two-point discriminate touch, control of their locomotion nerve fibers so they control voluntary movement to enter rehabilitation quickly with a non-addictive morphine replacement. PixarBio’s NeuroReleaseTM pain platform also includes 4-8 hour, 3-day, 7-day, 14-day and 90-Day pain treatments all have expected FDA approvals in 2020. NeuroReleaseTM is biodegradable, and it's non-toxic so NeuroReleaseTM can be re-injected to extend treatment timelines.
PixarBio Corporation is in the process of preparing to trade publicly in mid- October and our stock symbol will be PXRB. PixarBio Corporation was awarded the Boston Business Journal's "2016 Best Places to Work". The award recognizes PixarBio as one of the region's best firms, offering the greatest professional opportunities and work environments to innovate.
About PixarBio Corporation
PixarBio is a specialty pharmaceutical/biotechnology company focused on 505(b)2; pre-clinical and commercial development of novel neurological drug delivery systems for post-operative pain. PixarBio researches and develops targeted delivery systems for drugs, cells, or biologics to treat pain, epilepsy, Parkinson’s disease, and spinal cord injury. Our lead product platform, NeuroRelease™, has achieved sustained therapeutic release of non-opiate drugs for post-operative, acute and chronic pain in pre-clinical models. For more information, visit www.pixarbio.com.
Safe Harbor Statement
This announcement includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of PixarBio’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of Biotech and medical device industry regulation and health care legislation in the United States and internationally; global trends on cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; PixarBio’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of PixarBio’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
PixarBio Corp undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be obtained through PixarBio’s Corp HQ at 200 Boston Ave, Suite 1875 in Medford, MA 02155. PixarBio Corp is a private corporation.