Apogee Signs Exclusive License for Drug Preservation Technologies; Technologies Will Be Used to Enhance Company's PyraDerm(TM) Transdermal Delivery Solution
Dr. Nevenka Golubovic-Liakopoulos, Apogee's Director of Medical Products said, "The goal of our medical products group is to develop drug delivery systems that will allow patients to self administer a broad range of therapeutics thus avoiding the pain of conventional injections and many side affects associated with oral therapeutics. Our PyraDerm transdermal drug delivery solution consists of an array of micro-pyramids that penetrate the skin to a specific depth and a proprietary drug coating that releases therapeutics in a controlled manner. Over the past year we have demonstrated, in laboratory testing, that our micro-pyramid approach can be utilized to create micro pores in the skin and deliver both small and large molecule therapeutics. In conjunction with this effort, we have been working to develop therapeutic encapsulation, time release, dosage control and preservation technologies. Akron's patented technologies align with these internal research and development goals and combined with our efforts, we will integrate these technologies into our PyraDerm solution to improve therapeutic preservation and delivery capabilities.
"We believe that PyraDerm can offer significant differentiation and advantages over other drug delivery platforms. By adopting the PyraDerm drug delivery approach, a pharmaceutical company may be able to extend the patent life of a drug. Also, they may gain a competitive advantage by offering a non-injectable solution, or limit liability by minimizing potential adverse side effects from large systemic dosing. In addition, we believe our approach will be able to deliver large molecule biotech therapeutics to specific target cells thereby reducing the required dosage while improving efficacy."
David Meyers, Apogee's Chief Operating Officer said, "Our investment in this important technology is another step in our strategy of adding value to our base technologies. We started with the development of a transdermal drug delivery solution using our micro-fabrication design and manufacturing expertise to build our micro-pyramid arrays. Now, we are building upon this base by including a proprietary drug coating incorporating Akron's technology that releases and preserves therapeutics. We believed these combined technologies will address unmet needs of the drug delivery market."
Apogee's PyraDerm solution consists of an array of silicon micro-pyramids covered in a proprietary coating containing therapeutic compounds in an easy to use patch applicator. The Company believes that the key advantages of the PyraDerm solution are its ability to encapsulate a range of therapeutic compounds and precisely release them either in burst or extended release mechanisms. The delivery system targets emerging and future therapies by enabling the delivery of large molecule based drugs such as proteins, peptides and antibody based medicines. PyraDerm has no power requirements, the Company believes that it is painless and suitable for self-administration and it minimizes the risk of misuse because the therapeutics are completely consumed during administration. The Company has performed laboratory tests demonstrating the feasibility of the PyraDerm solution and is now focusing its efforts on pre-clinical trials with specific therapeutics. The Company believes that the PyraDerm manufacturing processes are scalable to high volume production and can be produced under good manufacturing practice standards.
About the University of Akron
The University of Akron is the public research university for Northern Ohio. It is the only public university in Ohio with a science and engineering program ranked in the top five nationally by U.S. News & World Report. Serving approximately 23,000 students, the University offers more than 350 associate, bachelor's, master's, doctoral and law degree programs and 100 certificate programs at sites in Summit, Wayne, Medina and Holmes counties. For more information, visit www.uakron.edu.
About Apogee Technology, Inc.
Apogee Technology designs, develops and commercializes proprietary medical device and sensor products using its MEMS and nanotechnology for the medical, automotive, industrial and consumer markets. The Company is developing its PyraDerm(TM) solution for enhanced transdermal drug delivery and has introduced a family of pressures sensors. Apogee's goal is to provide value-added and cost-savings solutions for our customers and, in so doing, to become a global leader in the sensors and medical device field. The Company operates a worldwide marketing and sales organization with offices in the US and Japan. For more information please visit our web site at: http://www.apogeemems.com.
PyraDerm(TM), Sensilica(TM) and BlueSensor(TM) are trademarks of Apogee Technology, Inc. All other product names noted herein may be trademarks of their respective holders. Certain statements made herein that use the words "anticipate," "hope," "estimate," "project," "intend," "plan," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties, which could cause the actual results, performance or achievements of the company to be materially different from those that may be expressed or implied. Please refer to the Company's risk factors as set forth in the Company's filings with the Securities and Exchange Commission, including its reports on Forms 10-KSB and 10-QSB.