71% of Patients Treated with OrCel Achieve 100% Wound Closure in Ortec's Venous Ulcer Trial; 92% Improvement Over Standard of Care Therapy Achieved on Hard to Heal Ulcers.Business Editors & Health/Medical Writers BIOWIRE2K NEW YORK--(BW HealthWire)--Feb. 5, 2002 Ortec International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ORTC ORTC Old Republic Title Company ORTC Operational Readiness Training Complex ), a tissue engineering company, announced today the results of a six-month follow up of all 36 patients enrolled in its venous ulcer Venous ulcers are wounds that are thought to occur due to improper functioning of valves in the veins usually of the legs. They are the major cause of chronic wounds, occurring in 70% to 90% of chronic wound cases. pilot trial completed in August 2000. The results, which are to be submitted in a final report to the Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) later this month, show that 71% of the patients treated with a non-frozen version of OrCel(TM) achieved 100% wound closure in comparison to 37% for the control group, representing a 92% improvement using OrCel in the treatment of hard to heal ulcers over standard of care therapy. In addition, the rate of wound closure for the OrCel treated group was double that of the control group and the OrCel treated group consistently required fewer days to heal. In August 2000, Ortec submitted to the FDA a final report of an interim analysis of patients in this same trial. In particular, that report showed that at two months, 47.1% of the OrCel treated patients achieved 100% wound closure in comparison to 26.3% for the control group, and at three months the percentage of the OrCel treated group that achieved 100% wound closure increased to 52.9%, whereas the standard of care treated group remained constant at 26.3%.(1) This past October, Ortec announced the results of a preliminary review of the first 13 patients completing its pivotal venous leg ulcer trial using its frozen (cryopreserved) form of OrCel. These results showed that 69.2% of the patients achieved 100% wound closure in 3 months with the balance of the patients achieving 90% wound closure or higher.(2) The pilot study from where this new data was generated was a 36-patient, eight center controlled study. Patients treated were pre-screened to ensure inclusion of only hard to heal ulcers. Those ulcers which responded to standard of care therapy by closing by more than 30% after two weeks of treatment were excluded from the study. The median size of the ulcers treated for both the OrCel and control groups was 4.5 cm(2) with the median age of the ulcers being nine months for the OrCel group and ten months for the control group. Steven Katz, Ph.D., Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ortec, commenting on the newly released venous ulcer results said, "Our clinical data continues to be second to none. The differential between the competition and ourselves continues to widen and I trust in time will be more fully recognized by the capital markets. We believe that our outstanding clinical data in venous and diabetic ulcers(3) continues to position OrCel to become the therapy of choice in the treatment of chronic wounds." About Ortec International, Inc. Ortec International, Inc. is a tissue-engineering company involved in the commercialization of a proprietary and patented technology to stimulate the repair and regeneration of human tissue. Ortec's current focus is the application of OrCel to heal chronic and acute wounds. In addition to having received FDA approvals during 2001 for OrCel for treatment of Epidermolysis Bullosa Epidermolysis Bullosa Definition Epidermolysis bullosa (EB) is a group of rare inherited skin diseases that are characterized by the development of blisters following minimal pressure to the skin. and donor sites donor site, n the portion of the body from which an organ or tissue is removed for transplant or grafting. in burn patients, Ortec is also pursuing FDA approvals for venous and diabetic skin ulcers and is in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of clinical trials for these indications. Overall, these indications are estimated to be in excess of $1 billion. Ortec believes, as well, that its platform technology extends to the regeneration of other human tissue, such as tendons, ligaments, cartilage, bone, muscle and blood vessels Blood vessels Tubular channels for blood transport, of which there are three principal types: arteries, capillaries, and veins. Only the larger arteries and veins in the body bear distinct names. . For more information, visit Ortec's website at http://www.ortecinternational.com. Certain statements made in this news release that express the belief, potential anticipation or expectation, as well as other statements which are not historical fact, and statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the clinical trials and their results, design, FDA product approvals or other marketing approvals, features, functionality and performance insofar in·so·far adv. To such an extent. Adv. 1. insofar - to the degree or extent that; "insofar as it can be ascertained, the horse lung is comparable to that of man"; "so far as it is reasonably practical he should practice as they may apply prospectively, are "forward looking" statements within the meaning and pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 and involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in this news release or in other "forward looking" statements presented by management. Factors that might cause such a difference include, but are not limited to, development by the Company's competitors of new technologies or products that are more effective than the Company's, risks of failure of clinical trials, dependence on and retention of key personnel, protection of proprietary technology, compliance with U.S. Food and Drug Administration regulations, continued availability of raw material for the Company's products, availability of product liability insurance in the event of commercialization of the Company's products, ability to effect transition from pilot-scale manufacturing to large-scale commercial production of products, uncertainty as to the availability of additional capital on acceptable terms, if at all, and the demand for the Company's products, if and when commercially available. (1) "Ortec's CCS (1) (Common Channel Signaling) A communications system in which one channel is used for signaling and different channels are used for voice/data transmission. Signaling System 7 (SS7) is a CCS system, also known as CCS7. See SS7. Continues To Demonstrate Superiority Over Standard Of Care In Treatment Of Venous Ulcers In Final Interim Report Filed With FDA" - Press Release, August 24th, 2000 (2) "Ortec's Preliminary Data Using Frozen Form of OrCel(TM) in Venous Leg Ulcers Demonstrates 69% of Patients Achieved 100% Wound Closure in 12 Weeks" - Press Release, October 31st, 2001 (3) "Ortec's OrCel(TM) Demonstrates More Effective And Faster Healing of Diabetic Ulcers Compared to Standard of Care" - Press Release, November 13th, 2001 |
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