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August 18, 2004
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Affinergy Selected to Receive $150,000 Loan from North Carolina Biotechnology Center
Funds expected to accelerate development and optimization of Affinergy coatings designed to reduce infections related to catheters.
RESEARCH TRIANGLE PARK, N.C., August 18, 2004 - Affinergy, Inc., a biotechnology coatings company with unique capabilities to regulate biological processes on the surface of synthetic materials, announced today that it has been selected by the North Carolina Biotechnology Center to receive a Small Business Research Award loan in the amount of $150,000. The funds will be used to develop Affinergy's coatings aimed at preventing colonization of bacteria on the surfaces of catheters.
"Affinergy is grateful for the support of the North Carolina Biotechnology Center in our efforts to solve this deadly and costly problem," said Peyton Anderson, CEO of Affinergy. "If we can prevent or delay the formation of biofilms on the surface of implanted medical devices, we can save tens of thousands of lives each year and reduce healthcare costs by billions of dollars. Once biofilms form on a device, they become difficult, if not impossible, to treat with standard antibiotics and therapeutics. Thus, patients have to undergo removal of the devices, which can have fatal consequences."
"The North Carolina Biotechnology Center is pleased to support Affinergy in its use of biotechnology to address infection problems related to the use of catheters," said Dr. Ken Tindall, Senior Vice President for Science and Business Development. "The development and application of these advanced coatings yields a practical way to improve healthcare outcomes by preventing the source of infection. Beyond this initial project, the potential for Affinergy's novel coatings to prevent harmful bacterial and protein attachment across a broad spectrum of applications has tremendous commercial promise."
"This loan will provide great operating leverage for Affinergy as we advance our technology across many catheter-related products," said Jonathan Gindes, VP of Operations and Finance for Affinergy. "Over 500,000 cases of hospital-acquired infections are reported each year. 90% of nosocomial urinary tract infections are associated with urinary catheter usage that cost the healthcare system $1.8 billion annually. Over 250,000 infection cases are reported each year for central venous catheters in the U.S. 12-25% of those people die; that is 30,000 to 62,500 deaths each year. The incremental healthcare cost for each case is $25,000 for a total of $6.25 billion."
About Affinergy
Affinergy's revolutionary "biological glue" is a platform technology designed to greatly improve the performance of medical devices by regulating the biology on their surfaces. Target opportunities include applications include to block biofilm formation, promote specific cell growth, and enable biomolecular immobilization. The coatings technology is highly modular, target-specific, and easy to apply in manufacturing. Affinergy can help medical device suppliers grow sales by differentiating existing devices as well as creating new products. By creating "tunable" bioactive surfaces on medical devices, Affinergy can contribute to the lowering of healthcare costs and improving of patient outcomes.
For more information, visit www.affinergy.com or contact Peyton Anderson at (919) 345-4732.
About the North Carolina Biotechnology Center
The North Carolina Biotechnology Center is a state-supported, non-profit organization. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business and education statewide. For more information visit the Center's Web site at www.ncbiotech.org or contact: Barry Teater, Director of Corporate Communications, North Carolina Biotechnology Center, 919-541-9366.
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