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September 9, 2008
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Affinergy Awarded 3 SBIR Grants for $3.6 Million
RESEARCH TRIANGLE PARK, N.C., September 9, 2008 - Affinergy, Inc., a Duke University spinout with a proprietary site-specific biological delivery system, announced that it has been awarded multiple SBIR grants totaling $3.6 million. Two of the awards are Phase 2 grants for developing products in the orthopedic and dental markets.
"Affinergy is eager to move these products into development so we can address critical patient needs," said Jonathan Gindes, Affinergy's CFO & SVP of Business Development. "We appreciate the hard work of our employees during these Phase 1 activities and are excited to move both programs into commercial product development. Our continued success in securing SBIR funding underscores the robustness of our technology across a diverse set of product opportunities. Affinergy and our shareholders are grateful for the ability to continue product development for these programs."
"Our novel system for local delivery of agents to medical devices is an area of great interest to patients, clinicians, and hospital administrators," said Paul Hamilton, Ph.D., Affinergy's VP of Research and Development who is Principal Investigator for the Phase 2 program funded by the National Institute of Allergy and Infection Diseases. "Our talented team of scientists has created great momentum with this program and is excited by the potential to improve the clinical performance of these devices. We believe this program could provide a significant clinical benefit for a large number of patients."
"We are grateful for the grant funding to move forward with product development of dental bone void fillers," said Hanne Gron, Ph.D., Affinergy's Director of Research who is Principal Investigator for the Phase 2 program funded by the National Institute of Dental & Craniofacial Research. "This is a significant opportunity in a market that is growing at double-digit rates. Our technical team is eager to advance the commercial development of this new class of Affinergy products."
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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