SAN DIEGO--(BUSINESS WIRE)--PURE Bioscience (NASDAQ: PURE) today announced that Cleveland Clinic has been issued an equity stake in FTA Therapeutics LLC, PURE’s pharmaceutical development partner for its patented silver dihydrogen citrate (SDC) antimicrobial.
Dr. Frank Papay, co-founder of FTA, commented, “After a lengthy and thorough evaluation process, we are proud to announce that one of the top hospitals in the world, Cleveland Clinic which has one of the largest biomedical engineering department in the US, has agreed to work with FTA as part of FTA’s development projects with PURE’s SDC.”
Chris Coburn, Executive Director of Cleveland Clinic Innovations, stated, “Cleveland Clinic is committed to advancing commercial-oriented innovation and transforming promising technologies into products. We are pleased to be working with FTA.”
Michael L. Krall, President and CEO of PURE Bioscience, said, “We commend FTA for its continued scientific and business-oriented focus on SDC as they complete the pre-clinical work for several formulations and prepare to enter clinical trials for the first products. We are pleased with FTA’s relationship with the Cleveland Clinic. FTA will commence the first of several multi-centered studies later this year for various indications for SDC, including wound care and acne.”
In July, 2008, PURE and FTA entered into an agreement for the development and licensing of SDC-based products for human use. FTA focuses on formulation and clinical projects for FDA-regulated dermatology, wound care and medical biofilm control products containing PURE’s SDC. FTA's mission is to be the leader in the emerging field of free-ion based antimicrobials by delivering significant clinical benefit and satisfying customer needs through innovative research, formulation and design of an advanced generation of free-ion based topical drug delivery systems and surface applications for the prevention and treatment of infections caused by drug resistant microorganisms in animal and human tissues.
FTA Therapeutics Announces Board of Directors
Dr. Papay added, “We have assembled an accomplished board of biotech and medical professionals at the top of their fields, and each of us is enthusiastic about accelerating FTA’s SDC projects with the Cleveland Clinic.”
The FTA board is comprised of:
Thomas Bradshaw, co-founder and Chairman of the Board, former CEO and President of Ricerca Biosciences, a contract research company to the pharmaceutical and biotechnology industries, formerly President of Venture Biologics, a management and consulting firm for biotechnology based companies, and President of The Catalyst Group, a technology consulting group. Bradshaw has also served as a principal with Arthur D. Little, Inc. Mr. Bradshaw has a B.A. in Chemistry and a M.B.A. degree from the Harvard Graduate School of Business.
Anthony J. Balsamo, M.D., F.A.C.S., Geisinger Specialty Clinics, Orthopedics, Wilkes-Barre, Pennsylvania, Clinical Professor at the Drexel University College of Medicine, former Orthopedics Department Chair and founder and former Medical Director of Holy Redeemer Sports Medicine Center in Meadowbrook, Pennsylvania. Dr. Balsamo was a founder and former Chairman of Healthcast IT Solutions for Healthcare, as well as the United States Regional Sports Club, a Pennsylvania-based charitable organization. Dr. Balsamo is a graduate of the Medical College of Pennsylvania.
Anthony J. Balsamo Jr., executive at Philadelphia-based Vynamic, a leading Health & Life Sciences Management Consulting firm. Mr. Balsamo formerly served as an executive with Accenture specializing in pharmaceuticals and medical products and was a financial services analyst with Booz-Allen & Hamilton. Mr. Balsamo holds a B.A. from Columbia University.
Wilma Fowler Bergfeld, MD, FACP, Co-Director of Dermatopathology, Departments of Dermatology and Pathology and senior Staff Dermatologist and Past Head of the Section of Dermatological Research in the Department of Dermatology, Cleveland Clinic. She also is the Director of the Cleveland Clinic’s Dermatopathology Fellowship and Professor of Dermatology and Pathology, The Cleveland Clinic Educational Foundation and Associate Clinical Professor, Department of Dermatology, Case Western Reserve University. She serves as a consultant to the Department of Sports Medicine at The Cleveland Clinic. Dr Bergfeld’s specialty interests include clinical dermatology (hair disorders, androgen excess, photoaging, and cosmetic dermatology) and dermatopathology. She joined the Cleveland Clinic in 1969 as a Clinical Dermatologist, Department of Dermatology and later, after the AFIP Dermatopathology Fellowship in 1972, she was appointed as Head (1977-2007), Dermatopathology, Department of Pathology and in 2007 Co-Director of Dermatopathology. She has been the Director, Cleveland Clinic’s Dermatopathology fellowship since 1975. Dr. Bergfeld is a former chair and current consultant to the FDA Dermatology Advisory Committee. She is 2008-9 President of the American Society of Dermatopathology, the 1992 President of The American Academy of Dermatology and past President of the Cleveland Academy of Medicine, the Cleveland Dermatology Society, the Ohio Dermatological Association, and the Women's Dermatological Society. She has served on the Cleveland Clinic’s Board of Governors and Board of Trustees (1992-97) and was the President of the Cleveland Clinic Staff. Dr Bergfeld completed her undergraduate work at the College of William and Mary in Williamsburg, VA, and is a graduate of Temple University School of Medicine in Philadelphia. She did her dermatology residency at Cleveland Clinic and her dermatopathology fellowship at Armed Forces of Pathology in Washington DC.
Frank Papay, M.D., F.A.C.S, co-founder and Medical Director of FTA, Chair of the Cleveland Clinic Dermatology and Plastic Surgery Institute, Section Head of the Cleveland Clinic Craniofacial Surgery/Department of Plastic Surgery and co-founder of Bioneer Surgical Inc.
Allison T. Vidimos RPh, MD, who received her B.S. in Pharmacy from Purdue University and her M.D. degree from Indiana University. She completed her dermatology residency and Mohs surgery fellowship at Cleveland Clinic Foundation, where she joined the staff in 1991. She was program director for the dermatology residency from 2001-2006. She was appointed Chairman of the Department of Dermatology at Cleveland Clinic in March 2005. She currently serves on the Judicial Committee for the American Academy of Dermatology, the Editorial Board for the Journal of the American Academy of Dermatology, as well as on the Boards of the Ohio Society for Dermatologic Surgery, and the International Transplant Skin Cancer Cooperative.
About FTA Therapeutics, LLC
Pennsylvania-based FTA Therapeutics, LLC focuses on development of clinical stage pharmaceutical products. Building on strategic partnerships with highly regarded academic institutions, FTA has established a solid platform for attaining its goal of moving products forward into and through clinical development.
About PURE Bioscience
PURE Bioscience develops and markets technology-based bioscience products that provide solutions to numerous global health challenges, including Staph (MRSA). PURE's proprietary high efficacy/low toxicity bioscience technologies, including its silver dihydrogen citrate-based antimicrobials, represent innovative advances in diverse markets and lead today's global trend toward industry and consumer use of "green" products while providing competitive advantages in efficacy and safety. Patented SDC is an electrolytically generated source of stabilized ionic silver which formulates well with other compounds. As a platform technology, SDC is distinguished from competitors in the marketplace because of its superior efficacy, reduced toxicity and the inability of bacteria to form a resistance to it. PURE is headquartered in El Cajon, California (San Diego metropolitan area). Additional information on PURE is available at www.purebio.com.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project,” "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.