Curis Awarded $2 Million Federal Grant for Next Generation of Biomaterials Development; Goal is Increased Adoption of Minimally Invasive Surgeries That Restore Tissue Function.Business/Science Editors CAMBRIDGE, Mass.--(BW BusinessWire)--Oct. 5, 2000 Curis, 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 : CRIS) today announced that it has received a second $2,000,000 grant from the National Institute of Standards and Technology National Institute of Standards and Technology, governmental agency within the U.S. Dept. of Commerce with the mission of "working with industry to develop and apply technology, measurements, and standards" in the national interest. (NIST (National Institute of Standards & Technology, Washington, DC, www.nist.gov) The standards-defining agency of the U.S. government, formerly the National Bureau of Standards. It is one of three agencies that fall under the Technology Administration (www.technology. ) to support the development of a new class of biomaterials designed to enable surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. that augment, repair or regenerate lost structural tissue or physiological function. This grant is part of NIST's 2000 Advanced Technology Program (ATP ATP: see adenosine triphosphate. ATP in full adenosine triphosphate Organic compound, substrate in many enzyme-catalyzed reactions (see catalysis) in the cells of animals, plants, and microorganisms. ) awards. Initial uses of the biomaterials technology developed under this grant would be for injectable, minimally invasive surgical procedures that treat gastroesophogeal reflux disease (GERD GERD gastroesophageal reflux disease. GERD abbr. gastroesophageal reflux disease GERD ) and stress urinary incontinence stress urinary incontinence n. See stress incontinence. (SUI Sui (swā), dynasty of China that ruled from 581 to 618. This short-lived dynasty reunified China in 589 after 400 years of division and laid the foundation for further consolidation under the T'ang dynasty. ). Current surgical treatments for these conditions are complex, invasive, unsatisfactory and costly. "This award is further validation of the Curis research engine and responds to the growing need for minimally invasive surgical procedures that significantly reduce postoperative pain and decrease the length of hospital stays, recovery time and healthcare costs," said Doros Platika, M.D., president and chief executive officer of Curis. "More than 14 million Americans suffer from the two initial indications targeted by technology to be developed under this grant. We believe effective treatments for these conditions and for others requiring injectable tissue engineered biomaterials will revolutionize important areas of medical care." The principal collaborator of Curis under this grant is David Mooney, Ph.D., a member of the scientific advisory board of Curis, professor of chemical engineering and biological materials & sciences at the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. (Ann Arbor) and a leader in the biomaterials and tissue engineering fields. "The support provided by this grant will enable the development of novel synthetic polymer scaffolds in injectable forms with controllable physical properties," said Dr. Mooney. "We believe this new technology may have uses beyond the two initial indications, for example, in gene or drug delivery." The ATP awards are made annually to innovative, research and development-driven, for-profit companies that exhibit potential to create economic growth in the U.S. Curis was one of 54 companies to receive the year 2000 awards. The ATP this year involved a rigorous competitive review of over 400 proposals. This grant is the second ATP grant award to Curis, which received a 1999 award to develop the company's cardiovascular product, Vascugel. Vascugel is under development to improve the outcome of coronary and peripheral vascular procedures by reducing restenosis and thrombosis. In GERD, the objective of such a treatment is to repair the esophageal sphincter Esophageal sphincter A circular band of muscle that closes the last few centimeters of the esophagus and prevents the backward flow of stomach contents. Mentioned in: Achalasia , and in SUI to augment the urethral sphincter. Current surgical treatments for these conditions with bulking agents, if possible, are costly, invasive or minimally effective. The technological challenges in developing tissue engineering treatments relate to ensuring the rapid integration of biomaterials into the surrounding tissue and controlling their degradation to allow for long-term efficacy. Problems with many current materials include immunological response and migration of particles to other parts of the body. Curis, Inc. is developing products based on technologies in the emerging field of regenerative medicine. The Company is combining insights gained through the study of developmental biology Developmental biology A large field of investigation that includes the study of all changes associated with an organism as it progresses through the life cycle. The life cycles of all multicellular organisms exhibit many similarities. with high-throughput screening capabilities, proteins, cells and biocompatible materials to facilitate the development of new regenerative medicine therapies. For more information, please visit the Curis web site at http://www.curis.com. The statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties including, without limitation, risks associated with the inherent uncertainty of pharmaceutical research, product development, regulatory approval and commercialization, the impact of competitive products, patents, patent 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. , product liability, third party reimbursement, and other risks and uncertainties associated with the biotechnology industry and mergers generally. For additional factors that could cause actual results to differ materially, please refer to the risk factors section of the Curis joint proxy statement/prospectus filed with the Securities and Exchange Commission on June 19, 2000. |
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