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March 10, 2008
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Affinergy Awarded 5 New SBIR Grants, Including a $2.0 Million Phase 2 Program
RESEARCH TRIANGLE PARK, N.C., March 10, 2008 - Affinergy, Inc., a Duke University spinout with a proprietary site-specific biological delivery system, announced that it has been awarded multiple SBIR grants. One of the awards is a Phase 2 SBIR program for $2,053,845. The Phase 2 grant is funded through the NIH by the National Institute of General Medical Sciences. The focus of the program is to advance development and optimization of Affinergy peptide linkers to accelerate a patient's natural healing processes. The other 4 grant awards are for Phase 1 programs that, in aggregate, exceed $1m.
"Affinergy is very excited to move forward with these important programs," said Jonathan Gindes, Affinergy's CFO & SVP of Business Development. "This further validates our technology as reviewed by scientific peers and acknowledges the progress that was demonstrated by our staff during the previous 18 months. Affinergy and our shareholders are grateful for the ability to continue product development for these programs. We also look forward to completing the 4 new Phase 1 grants and applying for Phase 2 support for each of those programs."
"We are anxious to initiate the Phase 2 activities and accelerate the pathway to commercialization," said Shrikumar Nair, Ph.D., Affinergy's Section Head for Discovery Chemistry who is Principal Investigator for the Phase 2 program. "We have achieved great momentum with this program and are excited by the potential to improve the clinical performance of a number of different products. This program could provide a significant clinical benefit for a large number of patients."
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.
For more information:
Peyton Anderson
Chief Executive Officer
Affinergy, Inc.
919-433-2229
panderson@affinergy.com
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