ATLANTA--(BUSINESS WIRE)--CorMatrix® Cardiovascular, Inc., (www.cormatrix.com) a leading medical device developer, today announced the issuance of U.S. Patent No. 8,568,761 for an augmented injectable extracellular matrix (ECM®) bioscaffold. The augmented ECM® bioscaffold induces stem cell proliferation and differentiation of stem cells into cardiomyocytes, and, thereby, angiogenesis and remodeling, i.e. tissue repair, of cardiovascular tissue.
U.S. Patent No. 8,568,761 is based on one of multiple pending U.S. Applications with claims directed toward ECM® bioscaffolds that are augmented with a variety of bioactive components, such as TGF-2, TGF-β and DNA.
“Capturing and directing stem cell function for truly regenerating tissues requires the appropriate microenvironment, not just stem cells,” said Robert Matheny, M.D., a cardiovascular surgeon and chief scientific officer for CorMatrix. “The future of regenerative therapy will be directed toward enhancing our effective matrices with factors that fully capture and augment regeneration. This patent, the ones following, and our current portfolio effectively differentiate CorMatrix from other regenerative companies.”
“The issuance of U.S. Patent No. 8,568,761 is a significant milestone in our patent prosecution efforts,” said David B. Camp, chairman and CEO of CorMatrix®. “Having a priority date of 2005 establishes CorMatrix as the leader in the field of cardiovascular regenerative medicine.”
In addition to the Extracellular Matrix platform of devices already on the market in both the US and Europe, CorMatrix plans on initiating human safety trials for heart failure in Europe Q1 of 2014 with its proprietary formula and device for application of the ECM. The allowance of the U.S. Patent No. 8,568,761 broadens the already established IP file held by CorMatrix for Cardiac Tissue Repair and Heart Failure treatments.
Background of Extracellular Matrix (ECM) Biomaterial
The decellularized matrix material serves as a bioscaffold to allow vascular ingrowth from adjacent tissues to deliver progenitor cells and nutrients to the matrix, which then differentiate into tissue-specific cells and structures. The ECM material is gradually replaced as the patient’s own cells reinforces and rebuilds the diseased or damaged site. During repair, the matrix is naturally degraded and resorbed, leaving remodeled functional tissue where damaged or injured tissue would normally be expected. The safety of extracellular matrices has been well established in a number of different clinical applications and more than 500 published papers. Since 1999, an estimated two million patients worldwide have received an extracellular matrix implant.
CorMatrix® Cardiovascular, Inc. was founded in 2001 as a privately held medical device company dedicated to developing and delivering innovative biomaterial devices that harness the body’s own innate ability to repair damaged cardiovascular tissues. Headquartered in Atlanta, Georgia, the company is currently researching, developing and commercializing a platform technology known as CorMatrix ECM® for a variety of cardiovascular indications, and has U.S. clearance and European approval (with a CE Mark) for its ECM® technology as an implant for pericardial closure, cardiac tissue repair, as well as clearance for carotid repair. With significant patent protection, CorMatrix is poised to successfully expand its current line of products. For more information, visit www.cormatrix.com.
Safe Harbor Statement
This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the anticipated approval of pending and future patent applications related to CorMatrix® ECM® Technology, the Company's future patent application filings and the protection of the Company's intellectual property provided by any patents that issue. These statements are based on current information and belief, and are not guarantees of future performance. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that pending and future patent applications related to CorMatrix® ECM® Technology may not result in issued patent, that the issuance of any patents may be delayed, that the allowed claims, if any, may not be in line with the Company's expectations, that the Company may not be successful in enforcing its patents, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2012. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.