NEW PROVIDENCE, NJ--(Marketwire - December 02, 2011) - Edge Therapeutics, Inc. announced today that the New Jersey Small Business Development Centers (NJSBDC) has named Edge a recipient of its 2011 Success Awards. The award recognizes companies and legislators for their commitment to the growth of small businesses representing a diverse array of industries including biotechnology, financial services, educational services, media and entertainment, food services and high-tech.
"Edge is a great example of what's possible when talented and capable entrepreneurs apply their skills to a unique and innovative idea," said Jerry Creighton, Sr., Executive Director of the NJIT-EDC and President of New Jersey Business Incubator Network. "The outcome is an emerging growth company! Everyone wins when you advance new scientific research."
Edge Therapeutics is a hospital-focused biopharmaceutical company developing novel implantable technology for direct delivery of proven drugs to the site of brain injury. Edge began in 2009 as a New Jersey Institute of Technology Enterprise Development Center (NJIT-EDC) incubator company and has recently moved into its new commercial headquarters in New Providence, NJ.
"We are honored to be the recipient of a 2011 NJSBDC Success Award. It is a tremendous validation of the rapid progress we are making in developing life-saving therapies for civilians and soldiers that suffer brain hemorrhages," said Brian Leuthner, President and Chief Executive Officer of Edge. "The New Jersey Small Business Development Centers along with the NJIT-EDC have been a vital resource for Edge as we grow."
"Under the leadership of Brian Leuthner, Edge has grown rapidly with the support of non-dilutive partner funds and by securing equity financing," noted Randy Harmon, New Jersey Small Business Development Centers Lead Technology Commercialization Consultant.
About Edge Therapeutics
Edge Therapeutics uses a novel, site-specific and sustained release-microparticle technology platform to deliver drugs to the brain and treat acute, and fatal or debilitating neurological conditions that currently have no effective therapies. Edge works with some of the world's foremost scientists from leading academic research centers to develop proprietary and novel formulations of known active drugs for direct therapeutic delivery to the site of injury in the brain.
The company's patent-protected, bioabsorbable microparticle formulations release drugs locally and consistently at therapeutic concentrations in the brain, which maximizes therapeutic activity while avoiding treatment-limiting systemic side effects seen with oral and intravenous delivery. This technology platform is the basis of Edge's pipeline of drugs in therapeutic areas such as complications from spontaneous brain hemorrhage, traumatic brain injury and brain surgery. The lead products, NimoGel™ and NimoVent™, are microparticle formulations of the calcium channel blocker nimodipine. These drugs are being developed to prevent delayed complications after subarachnoid hemorrhage (where today oral- or i.v.-administered nimodipine is employed but in suboptimal concentrations due to the generation of systemic side effects). Phase 2 studies for both NimoGel and NimoVent are planned for 2012.
For more information on Edge Therapeutics, Inc., please visit www.edgetherapeutics.com.