NEW YORK, March 16, 2016 (GLOBE NEWSWIRE) -- Ember Therapeutics, Inc. (OTCQB:EMBT), a New York-based biopharmaceutical company developing targeted therapies for osteoarthritis, kidney fibrosis, and other indications using Bone Morphogenetic Protein (BMP)-7, today announced the acquisition of ICX-RHY/Vavelta™, a regenerative medicine asset, from Intercytex.
Under the acquisition agreement, all assets, clinical trial data and files, patents, trademarks, formulation, proposed formulations, contracts, working inventory, marketing material, websites, licenses and any other asset currently owned by Intercytex will be transferred to Ember Therapeutics.
“This addition to our pipeline ties up perfectly with our current technology and is a natural extension of that platform,” said Joe Hernandez, executive chairman of Ember Therapeutics. “The regenerative medicine field is growing rapidly, and this new asset strengthens our current portfolio while better positioning Ember Therapeutics in the space. We look forward to the continued clinical development of ICX-RHY as we further advance our portfolio assets and strategically expand into promising new areas.”
ICX-RHY a suspension of human dermal fibroblasts (HDFs) in cell storage medium, which has demonstrated an ability [in clinical / preclinical trials] to repair and rejuvenate skin. It has been designed to improve the structure, function and appearance of skin damaged by medical conditions such as Epidermolysis bullosa, scarring and associated scar contractures, or the aging process. When injected into the skin, the HDFs are believed to remodel and lay down collagen and other extracellular matrix proteins within the dermis. The HDFs begin producing collagen, which leads to skin improvement. ICX-RHY is being developed primarily for medical applications, but has also demonstrated utility in aesthetics.
Skin contractures adjacent to a joint lead to joint deformities that severely restrict range of motion (ROM) of the affected joint. They are also often accompanied by crippling levels of chronic pain resulting in a high level of dependency on pain medications. These isolated or combined factors can result in a significant disruption to a patient’s social and professional life, leading to a marked impact on the individual's quality of life. The current standard of care for restrictive scar contracture involves the surgical excision of the contracture itself and/ or skin grafting. These standard therapies require extensive and often repeated surgeries, and have created a significant unmet medical need for less invasive therapies.
About Ember Therapeutics, Inc.
Ember Therapeutics, Inc. is a clinical stage biopharmaceutical company whose primary focus is on utilizing Bone Morphogenetic Protein-7 to catalyze cartilage regeneration for disease modification of Osteoarthritis (OA) and the inhibition and reversal of organ fibrosis in diseases such as Chronic Kidney Disease (CKD) and Alport Syndrome. In particular, Ember has acquired over 450 patents covering BMP-7 and its related family of BMPs, variants, novel formulations, delivery technologies, associated clinical data, and cGMP manufactured material from Stryker Corporation. For more information, please visit www.embertx.com.
About Intercytex, Ltd.
Intercytex Ltd. is a UK Regenerative Medicine product and services company re-launched in Nov 2010. The Company focused on developing its lead product ICX-RHY (VAVELTA) to treat a variety of skin related problems including Epidermolysis Bullosa and scar contractures as well as providing its Cell2Therapy Translation service to other Regenerative Medicine based companies and Research Groups, in order to enable them to take their cell therapy rapidly into the clinic. For more information please visit www.intercytex.com.
Contact The Ruth Group Lee Roth (investors) (646) 536-7012 firstname.lastname@example.org