ImaRx Acquires Abbokinase; Acquisition Strengthens Existing Thrombolytic Platform and Provides Commercial Opportunity.TUCSON, Ariz. -- ImaRx Therapeutics, Inc., a biopharmaceutical company developing innovative therapies for vascular diseases vascular diseases, n.pl diseases of the peripheral circulatory system. including stroke, today announced the Company has acquired the thrombolytic drug Abbokinase(R). Abbokinase is the trade name for urokinase urokinase /uro·ki·nase/ (UK) (u?ro-ki´nas) u-plasminogen activator; an enzyme in the urine of humans and other mammals, elaborated by the parenchymal cells of the human kidney and acting as a plasminogen activator. , an enzyme produced by human kidneys to lyse lyse (liz) 1. to cause or produce disintegration of a compound, substance, or cell. 2. to undergo lysis. lyse or lyze v. To undergo or cause to undergo lysis. (dissolve) blood clots. Abbokinase is approved for the lysis lysis /ly·sis/ (li´sis) 1. destruction or decomposition, as of a cell or other substance, under influence of a specific agent. 2. mobilization of an organ by division of restraining adhesions. 3. of acute massive pulmonary embolism and has been commercialized for more than 20 years. It has been distributed via three major drug wholesalers through various Group Purchasing Organization A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. (GPO) contracts, and is on formulary formulary /for·mu·lary/ (for´mu-lar?e) a collection of recipes, formulas, and prescriptions. National Formulary see under N. for·mu·lar·y n. at approximately 400 hospitals nationwide. "Abbokinase has been viewed as a safe and effective lytic lytic /lyt·ic/ (lit´ik) 1. pertaining to lysis or to a lysin. 2. producing lysis. lyt·ic adj. 1. Of, relating to, or causing lysis. 2. therapy for over 20 years," said Kenneth Ouriel, M.D., Chairman of the Department of Vascular Surgery at the Cleveland Clinic. "The physician community has developed significant experience and familiarity with this product over its many years in the market place." "This acquisition is complementary to the Company's existing development programs, which include recombinant urokinase and recombinant pro-urokinase, both of which have completed Phase 3 trials," said Evan C. Unger, M.D., F.A.C.R., President and Chief Executive Officer of ImaRx Therapeutics. About ImaRx Therapeutics The "Clotbusting" Company(TM). ImaRx Therapeutics is developing and commercializing innovative therapies for vascular disorders associated with blood clots based on two platforms, thrombolytics and SonoLysis, a technology combining our proprietary nanobubbles with ultrasound to treat stroke, and other vascular diseases. At ImaRx, our goal is to improve patient outcomes by restoring critical blood flow to vital organs and tissues such as the brain and lungs following acute ischemic Ischemic An inadequate supply of blood to a part of the body, caused by partial or total blockage of an artery. Mentioned in: Antiangiogenic Therapy, Subarachnoid Hemorrhage, Ventricular Fibrillation ischemic or thrombotic events. Forward-Looking Statement This release contains forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include results of current or pending research and development activities, the potential commercial opportunity represented by Abbokinase, the potential use of data and clinical results for recombinant urokinase and recombinant pro-urokinase for submission to the Food and Drug Administration and other regulatory authorities, and the company's success in entering into suitable arrangements with GPOs and remaining on current formularies. |
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