InSitu Biologics Announces License Agreement With Mayo Clinic For Co-Development of Anti-Cancer Therapeutics

OAKDALE, Minn.--(BUSINESS WIRE)--InSitu Biologics, Inc. is pleased to announce that it has entered into an agreement with the Mayo Foundation for Medical Education and Research to further develop its prolonged-release drug delivery technology for anti-cancer therapeutics.

InSitu Biologics has developed an industry-leading platform technology for loading large doses of a variety of medications into a localized delivery matrix. Once injected, medication elutes from the multi-phase matrix over an extended period. The collaboration with Mayo is both a research and commercial endeavor, and will accelerate InSitu Biologics’ work in adapting this technology for anti-cancer therapeutics. This partnership will encompass traditional cancer medications as well as newly developed novel agents.

“We are extremely excited to begin work with this group of amazing physicians and scientists. Their cutting-edge expertise and deep clinical experience will be invaluable as we extend our platform to address significant unmet needs in controlled-release drug delivery for cancer patients,” said Kevin Bassett, CEO of InSitu Biologics.

“Combining Mayo’s world-class expertise with InSitu Biologics’ unique technology should yield novel and effective treatment solutions for cancer patients. We look forward to having the Mayo team join us on this important journey to advance and improve therapeutic options in the cancer field,” said Dr. Mark Ereth, Chief Medical Officer of InSitu Biologics.

Mayo Foundation for Medical Education and Research is a non-profit based in Rochester, Minnesota, with a mission of “inspiring hope and promoting health through integrated clinical practice, education and research”. Mayo now holds a financial interest in InSitu Biologics and its platform technology.

InSitu Biologics, Inc. is an emerging biotech company focused on the development of a multi-phase prolonged-release drug delivery platform for localized treatment of pain, cancer, and infection. The Company is initially applying its disruptive technology to the unmet needs in the pain management and cancer therapy markets.

InSitu Biologics is currently conducting investigational pre-clinical work. The Company has no products approved for sale in any geography.