LOWELL, Mass.--(BUSINESS WIRE)--Mr. Lauro joins Viatar Board during the Company’s accelerated growth phase. Viatar is now testing the Production Version of its Cancer Dialysis solution.
Viatar CTC Solutions is a medical technology company focused on the treatment of patients with metastatic cancer. Circulating Cancer Cells (CTCs) are key driver of cancer metasteses in virtually all 27 types of solid tumors. The Viatar Oncopheresis System is designed to remove CTCs from a patient’s blood as a new cancer therapy which would thereby slow down metastatic progression (which is responsible for 90% of cancer deaths).
Viatar has built and is now testing the production version machine and filter set for this new therapy and leads the market with the world’s only practical design. Our testing has demonstrated that the Viatar Oncopheresis System successfully removes approximately 80-90% of a cancer patient’s lethal CTCs on a human-size scale.
Viatar is ISO 13485-certified, which is essential for obtaining CE Mark and FDA approval, and is planning for production of the machine and the single-use filter set using outside manufacturers as well as internal manufacturing.
Viatar’s solution is based on a large body of innovative technology including proprietary laser-micromachined filter, microfluidic structures and algorithms, and crossflow filtration technologies which separate CTCs based on their greater size and stiffness compared to normal blood cells. Viatar has a strong IP position in cancer dialysis via our basic United States patent issued in January 2017, patents pending and trade secrets.
Viatar’s solution purifies CTCs from the blood much like dialysis purifies blood of patients with kidney failure. With the Viatar Oncophersis System, a patient would undergo a 3 hour treatment session at a chemotherapy clinic or hospital which will process all of a patient’s blood twice (10 liters).
The frequency of treatment with the Viatar Oncopheresis System will depend on a given patient’s cancer type and the extent of metastatic spread; but is expected to be twice weekly for 8 weeks. Future clinical trials will help determine these parameters. The Viatar Oncopheresis System has none of the side effects associated with chemotherapy or immunotherapy drugs.
Several compelling animal and human studies demonstrate the efficacy removing CTCs as a viable cancer therapy, as a means of slowing or stopping the metastatic cascade.
Initial revenue from diagnostic customers and applications has started. Therapeutic sales will start in 2018.
The Company is seeking partnerships with larger companies and healthcare providers.
George Lauro brings to Viatar over 25 years of experience as a technology entrepreneur, operating executive, and venture capitalist including board positions at 6 public and 26 private companies. He is former Managing Director & Partner at Wasserstein Perella, a leading Wall Street Private Equity & Leveraged Buyout firm. He has built several companies from prototype stage to exit (M&A/IPO) as an active board member creating over $2B of shareholder value and completed M&A deals exceeding $2B in value. As IBM's Managing Director of Technology Commercialization at World HQ, he launched several IBM business spinouts from Watson Research Lab. He attended Brown (BSEE), the Wharton School (MBA) and MIT (graduate studies in Aeronautical Engineering), and holds 23 patents in inertial guidance GPS and wireless technologies.
Ilan Reich, Viatar CEO said, “We are delighted that George has joined our team. His long experience as a technology investor and entrepreneur and his relationship networks in corporate and financial markets will help accelerate Viatar’s growth.”
Mr. Lauro said, "Viatar is poised to have a major positive impact on cancer treatment with its proprietary Cancer Dialysis solutions. I am delighted to be helping Viatar to become a significant commercial enterprise.”