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Apogee Technology, Inc., (AMEX: ATA) an emerging
micro-systems and nanotechnology company that designs, develops and
commercializes medical devices and sensors, today announced that it
signed an exclusive license agreement with the University of Akron
Research Foundation. This license agreement covers specific patents,
patent applications and know how related to the encapsulation and
preservation of therapeutics for the coating on its PyraDerm(TM)
transdermal drug delivery platform. The Company also signed a one year
sponsored research agreement to further develop and optimize the
licensed technologies.
Dr. Nevenka Golubovic-Liakopoulos, Apogee's Director of Medical
Products said, "The goal of our medical products group is to develop
drug delivery systems that will allow patients to self administer a
broad range of therapeutics thus avoiding the pain of conventional
injections and many side affects associated with oral therapeutics.
Our PyraDerm transdermal drug delivery solution consists of an array
of micro-pyramids that penetrate the skin to a specific depth and a
proprietary drug coating that releases therapeutics in a controlled
manner. Over the past year we have demonstrated, in laboratory
testing, that our micro-pyramid approach can be utilized to create
micro pores in the skin and deliver both small and large molecule
therapeutics. In conjunction with this effort, we have been working to
develop therapeutic encapsulation, time release, dosage control and
preservation technologies. Akron's patented technologies align with
these internal research and development goals and combined with our
efforts, we will integrate these technologies into our PyraDerm
solution to improve therapeutic preservation and delivery
capabilities.
"We believe that PyraDerm can offer significant differentiation
and advantages over other drug delivery platforms. By adopting the
PyraDerm drug delivery approach, a pharmaceutical company may be able
to extend the patent life of a drug. Also, they may gain a competitive
advantage by offering a non-injectable solution, or limit liability by
minimizing potential adverse side effects from large systemic dosing.
In addition, we believe our approach will be able to deliver large
molecule biotech therapeutics to specific target cells thereby
reducing the required dosage while improving efficacy."
David Meyers, Apogee's Chief Operating Officer said, "Our
investment in this important technology is another step in our
strategy of adding value to our base technologies. We started with the
development of a transdermal drug delivery solution using our
micro-fabrication design and manufacturing expertise to build our
micro-pyramid arrays. Now, we are building upon this base by including
a proprietary drug coating incorporating Akron's technology that
releases and preserves therapeutics. We believed these combined
technologies will address unmet needs of the drug delivery market."
About PyraDerm(TM)
Apogee's PyraDerm solution consists of an array of silicon
micro-pyramids covered in a proprietary coating containing therapeutic
compounds in an easy to use patch applicator. The Company believes
that the key advantages of the PyraDerm solution are its ability to
encapsulate a range of therapeutic compounds and precisely release
them either in burst or extended release mechanisms. The delivery
system targets emerging and future therapies by enabling the delivery
of large molecule based drugs such as proteins, peptides and antibody
based medicines. PyraDerm has no power requirements, the Company
believes that it is painless and suitable for self-administration and
it minimizes the risk of misuse because the therapeutics are
completely consumed during administration. The Company has performed
laboratory tests demonstrating the feasibility of the PyraDerm
solution and is now focusing its efforts on pre-clinical trials with
specific therapeutics. The Company believes that the PyraDerm
manufacturing processes are scalable to high volume production and
can be produced under good manufacturing practice standards.
About the University of Akron
The University of Akron is the public research university for
Northern Ohio. It is the only public university in Ohio with a science
and engineering program ranked in the top five nationally by U.S. News
& World Report. Serving approximately 23,000 students, the University
offers more than 350 associate, bachelor's, master's, doctoral and law
degree programs and 100 certificate programs at sites in Summit,
Wayne, Medina and Holmes counties. For more information, visit
www.uakron.edu.
About Apogee Technology, Inc.
Apogee Technology designs, develops and commercializes proprietary
medical device and sensor products using its MEMS and nanotechnology
for the medical, automotive, industrial and consumer markets. The
Company is developing its PyraDerm(TM) solution for enhanced
transdermal drug delivery and has introduced a family of pressures
sensors. Apogee's goal is to provide value-added and cost-savings
solutions for our customers and, in so doing, to become a global
leader in the sensors and medical device field. The Company operates a
worldwide marketing and sales organization with offices in the US and
Japan. For more information please visit our web site at:
http://www.apogeemems.com.
PyraDerm(TM), Sensilica(TM) and BlueSensor(TM) are trademarks of
Apogee Technology, Inc. All other product names noted herein may be
trademarks of their respective holders. Certain statements made herein
that use the words "anticipate," "hope," "estimate," "project,"
"intend," "plan," "expect," "believe" and similar expressions are
intended to identify forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks and
uncertainties, which could cause the actual results, performance or
achievements of the company to be materially different from those that
may be expressed or implied. Please refer to the Company's risk
factors as set forth in the Company's filings with the Securities and
Exchange Commission, including its reports on Forms 10-KSB and 10-QSB.