|
June 22, 2006
|
Affinergy Awarded 3 New SBIR Grants to Accelerate Research Programs
RESEARCH TRIANGLE PARK, N.C., June 22, 2006 - Affinergy, Inc., a Duke University spinout with a proprietary site-specific biological delivery system, announced that it will receive funding for three new SBIR (Small Business Innovation Research) grants. The three grants are Phase 1 awards that total more than $575,000 in aggregate.
"Affinergy is excited to receive this additional funding to accelerate our research programs," said Jonathan Gindes, Affinergy's CFO & SVP Business Development. "This funding is non-dilutive to our shareholders and allows us to initiate new research programs that have great commercial potential. We believe this further validates our strategy of building out Affinergy's platform technology through a combination of corporate partnerships and grant funding."
"It is especially gratifying to see our research plans validated by scientific peers who review and score our applications, "said Paul Hamilton, Ph.D., VP of Research & Development of Affinergy. "We are anxious to begin these research programs and look forward to moving these initiatives towards commercialization as soon as possible. These specific grants will generate intellectual property and discoveries that can be leveraged into multiple topics outside of the initial research programs."
"Affinergy's broad range of significant clinical applications is unique and well suited to be leveraged by grant funding," said Quinn Wickham, MD, Director of Preclinical Studies of Affinergy. "Our team is excited to do this initial research and begin working toward additional preclinical studies. The SBIR funding is an excellent catalyst to develop new technology that can improve patient outcomes in a number of different clinical areas."
These three new grant awards will fund research in the areas of injectable growth factors, tendon healing, and click chemistry. Affinergy has previously been awarded 2 other Phase 1 SBIR grants and has multiple other grant applications currently filed. If research programs are successful in Phase 1, Affinergy may elect to file Phase 2 applications which are typically much larger amounts of money intended to help drive the research into commercialization phases.
About Affinergy, Inc.
Affinergy develops site-specific biological systems using biofriendly linkers that selectively adhere to proteins, drugs, cells, and biomaterial surfaces in order to kickstart biology toward an intended outcome. Affinergy is focused on developing coatings and medical devices for the orthopedic and cardiovascular markets. Affinergy's technology was patented at Duke University and 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) 345-4732.
|
