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July 12, 2005
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Affinergy Awarded SBIR Grant to Find Growth Factor Mimetics
New proprietary compounds to be mined from Affinergy's proprietary libraries.
RESEARCH TRIANGLE PARK, N.C., July 12, 2005 - Affinergy, Inc., a Duke University spinout with a proprietary site-specific biological delivery system, was recently awarded a $256,000 Phase 1 SBIR Grant (Small Business Innovation Research) from National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS). This award is Affinergy's second SBIR grant in 2005 that funds research into proprietary materials for use in the treatment of a variety of musculoskeletal disorders.
The funds will be used to accelerate activities to screen Affinergy's proprietary peptide libraries to find new molecules that mimic the positive clinical effects of growth factors currently on the market such as bone morphogenic proteins. The Phase 1 project will include laboratory studies to be conducted over the next year with Affinergy planning to file for a Phase 2 award, pending successful completion of activities in Phase 1.
"Affinergy is excited to accelerate our programs in the area of proprietary growth factors because the field holds such great promise downstream in the clinic," said Jonathan Gindes, Vice President of Finance & Operations of Affinergy. "Affinergy's special competency with growth factors and the Grant's truly novel approach helped us get this funded on the first submission. From a business perspective, we are excited to move beyond licensing our coatings to Partners and towards building our own proprietary products. We look forward to rolling out a number of other Affinergy products as we continue to grow and build our company."
"This award is a special validation to our laboratory team's expertise and focus on growth factors," said Paul Hamilton, Ph.D., Director of Research and Development at Affinergy, who will serve as Principal Investigator for the Grant. "Growth factors used in the spinal fusion market are already having great commercial success. We believe Affinergy is uniquely capable of expanding indications for existing growth factors through better deliver and alternative carriers as well as discovering new growth factors mimetics. We are grateful for the support of the National Institute of Arthritis and Musculoskeletal and Skin Diseases and look forward to accelerating this program."
About Affinergy, Inc.
Affinergy develops site-specific biological & drug delivery systems using biofriendly binders that selectively adhere to proteins, drugs, cells, and other biomaterial surfaces in order to kickstart biology toward an intended outcome. Affinergy is focused in the orthopedic and biologic drug delivery markets with a growing interest in cardiovascular applications. Affinergy's technology was patented at Duke University and has been incubated at Becton Dickinson's research center in Research Triangle Park. Affinergy was awarded 2005 Innovation of the Year by Frost & Sullivan in the category of Medical Device Coatings.
For more information, visit www.affinergy.com or contact Peyton Anderson at (919) 597-6227.
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