NEUROSYSTEC HAS AN EAR TO GROWTH FIRM JOINING SILICON VALLEY COMPANY TO DEVELOP TREATMENTS FOR TINNITUS.Byline: Daily News VALENCIA - A biotech leader headquartered in Valencia will team with a Silicon Valley company to develop treatments for inner-ear disorders including chronic tinnitus Tinnitus Definition Tinnitus is hearing ringing, buzzing, or other sounds without an external cause. Patients may experience tinnitus in one or both ears or in the head. - ringing in the ear. Arnold Mann's NeuroSystec Corp. said Monday that it signed an exclusive agreement with DURECT Corp. of Cupertino to develop, market and sell products. Under the agreement, DURECT granted NeuroSystec exclusive rights to develop and commercialize products designed for the treatment of tinnitus and to improve postoperative post·op·er·a·tive adj. Happening or done after a surgical operation. postoperative after a surgical operation. postoperative care recovery and tolerance of surgical implantation of cochlear cochlear pertaining to or emanating from the cochlea. cochlear duct the coiled portion of the membranous labyrinth located inside the cochlea; contains endolymph. cochlear nerve see Table 14. devices. The systems will use DURECT drug treatment methods and technologies to deliver precise doses of medications directly to the middle or inner ear. Mann's other products include cochlear - or inner ear - devices that help the deaf hear. DURECT's drug treatment methods and drug delivery technologies, coupled with its tinnitus research, could help millions of patients who suffer from constant ringing sounds in their ears, said Mann, chairman of the privately held Valencia company. ``Tinnitus is truly an unmet medical need affecting millions of people,'' added Dr. Stephen McCormack, president 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 NeuroSystec. ``We are very excited to work with DURECT to develop the first promising therapy under this agreement.'' NeuroSystec paid to DURECT an undisclosed upfront fee and will make additional payments to DURECT based on the achievement of milestones and research and development activities. NeuroSystec also will pay royalties on sales of products developed under this agreement. In connection with the agreement, DURECT has received a minority ownership stake in NeuroSystec. More than 8 million people in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. suffer from tinnitus, a chronic ringing, hissing hiss n. 1. A sharp sibilant sound similar to a sustained s. 2. An expression of disapproval, contempt, or dissatisfaction conveyed by use of this sound. v. , buzzing or other noise in one or both ears. Two million Americans are seriously debilitated de·bil·i·tat·ed adj. Showing impairment of energy or strength; enfeebled. See Synonyms at weak. Adj. 1. debilitated - lacking strength or vigor asthenic, enervated, adynamic by their tinnitus to the point that it severely impacts their quality of life. For most sufferers, the cause of their tinnitus is unknown and there is no accepted therapy available. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion