New Biotech Company Created to Develop and Commercialize New Gene
Therapies for Fight Against Heart Disease
=====================================================
PRINCETON, N.J.--(BW HealthWire)--Aug. 12, 1997--
Lead Products Demonstrate Positive Pre-Clinical Results Preventing
Restenosis Leading Cause of Repeat Angioplasty
A new biotechnology company with state-of-the-art gene therapy
technology and a patented drug delivery system to treat cardiovascular
disease has been formed by three of the world's leading physicians and
research scientists in this field. CardioGene Therapeutics, Inc.,
headquartered here, is the only biotechnology company dedicated
exclusively to cardiovascular disease research and product development
using promising gene therapy techniques.
The new company's approach to cardiovascular gene therapy will
include the development of the medical devices necessary to provide
site-specific delivery of gene therapy drugs to blood vessels and
cardiac tissue, as well as the technology necessary to develop the
gene therapy drugs themselves. These systems have demonstrated
consistent and meaningful pre-clinical efficacy in a variety of animal
species. The company will develop products to treat restenosis,
angiogenesis, atherosclerosis, arrhythmias and heart failure.
Based on the work of its scientific founders, Gary J. Nabel,
M.D., Ph.D. and Elizabeth G. Nabel, M.D., of the University of
Michigan, and Jeffrey M. Leiden, M.D., Ph.D. of the University of
Chicago, CardioGene Therapeutics has assembled a comprehensive
technology platform enabling the development of gene therapy drug
products and medical devices to combat cardiovascular disease. Several
products are in the development cycle, including a program for the
prevention of restenosis, one of the most important long term
complications following coronary angioplasty.
Restenosis is the re-occlusion, or closing, of a blood vessel
following percutaneous transluminal coronary angioplasty (PTCA). An
estimated 40% of the more than 500,000 PTCA patients in 1997 will
develop clinically significant restenosis in the first six months
following the procedure. It is estimated that at a cost of $12,000 per
procedure, the national medical outlay for repeat angioplasty is $2.4
billion, 60% of which is reimbursed through Medicare.
CardioGene Therapeutics is developing two proprietary gene
therapy systems to treat restenosis, one which prevents the growth of
cells which may lead to restenosis, and another which destroys
proliferating cells. The company also holds a license to US Patent
(5,328,470) for a catheter delivery system to apply these therapies to
very targeted regions of a patient's arterial wall at the time of
balloon angioplasty.
"Our current technologies address a very significant medical need
with a large worldwide market," explains Mr. Martin D. Cleary,
CardoGene's Co-founder, President and Chief Executive Officer. "We are
well on our way to establishing strategic relationships with device
and drug companies that will enable us to fulfil our shorter term
objectives of completing pre-clinical work and initiating a clinical
study to prevent restenosis with gene therapy. We anticipate
establishing a research and development presence in Ann Arbor,
Michigan by year end. Over the long term, our effort will look to
address many other cardiovascular conditions using our core gene
therapy and delivery technologies."
CardioGene Therapeutics is also developing a proprietary gene
therapy system specifically for patients receiving a stent during
balloon angioplasty. This treatment involves coating the outside
surface of a metallic stent with a genetic compound. The DNA coated
stent will treat the major complication of stent restenosis - the
growth of cells through the stent into the vessel wall.
Product development programs targeted at the prevention of bypass
graft failure following coronary artery or peripheral artery bypass
using antiproliferative gene therapy are also planned. Other potential
disease targets include angiogenesis, heart failure and cardiac
arrhythmias.
Intellectual Properties
Through licensing agreements with the University of Michigan, the
University of Chicago, and a public biotechnology company Vical Inc.
(NASDAQ:VICL) San Diego, Calif., CardioGene has assembled a
wide-reaching technology platform, including one issued U.S. patent
and 11 U.S. patent applications encompassing gene, vector and device
technologies.
The company's three scientific founders, Dr. Leiden of the
University of Chicago and Drs. Gary and Elizabeth Nabel of the
University of Michigan, have contributed a wealth of science and
technology to the field of cardiovascular medicine and gene therapy.
They are recognized world leaders in the areas of molecular virology,
immunology, molecular medicine, cardiovascular research,
cardiovascular gene therapy and clinical cardiology. They will serve
as exclusive consultants to the company in the field and constitute
the company's Scientific Advisory Board. They also serve on the
Scientific Advisory Board of Vical Inc.
Martin D. Cleary, a veteran of the biotechnology industry for
more than 10 years, will serve as President and Chief Executive
Officer of CardioGene Therapeutics, Inc. Mr. Cleary was President and
CEO of THERAGEN, INC., an early stage gene therapy company which he
merged with GenVec, Inc., in 1994. He served as a member of the board
of directors for GenVec through 1996.
CardioGene Therapeutics Inc. is a privately held company
dedicated to the development of novel gene therapy products for the
treatment of cardiovascular disease, including proprietary delivery
systems, requisite devices and vectors encoding therapeutic genes. The
company encourages inquiries regarding both private investments and
licensing opportunities for it's current and future technology.
Investment inquiries may be direct to Mr. Martin D. Cleary, President
and Chief Executive Officer.
To receive this information via e-mail, please contact Tony
Labriola at Mullen Public Relations: tlabriola@mullen.com .
CONTACT: EDITORIAL:Tony Labriola
Mullen PR
(508) 468-1155
tlabriola@mullen.com
or
INVESTOR: Martin D. Cleary
CardioGene Therapeutics, Inc.
(609) 951-2280
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: MEDICINE BIOTECHNOLOGY
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