BANNOCKBURN, Ill., Dec. 5, 2012 /PRNewswire/ -- Pinnacle Biologics, Inc., a bio-pharmaceutical technology company developing and manufacturing novel therapies for oncology and rare diseases announced today the acquisition of laser technologies for use in photodynamic therapy (PDT). The acquisition includes the Diomed PDT 630 laser and the OPTIGUIDE fiber optic diffusers, which are currently the only FDA-approved devices for use in PDT with PHOTOFRIN ® (porfimer sodium) for injection. Financial terms were not disclosed.
Photodynamic therapy with PHOTOFRIN is a two-stage process requiring administration of both drug and light. Pinnacle's acquisition of the laser and fiber technology creates a complete portfolio for the company, which now includes all the PDT treatment components.
"This acquisition delivers significant value to Pinnacle by ensuring we have the strongest platform possible from which to further develop PDT therapy," said Guillermo Herrera, Pinnacle Executive Chairman and CEO. "Having access to all the PDT technology and science allows us to accelerate our push for new indications and treatments for cancer and other, more rare diseases."
Pinnacle acquired PHOTOFRIN in March 2011 solidifying its corporate presence and global leadership in the photodynamic therapy field by normalizing product supply, expanding availability and education among current customers, and targeting areas of unmet medical need for use with PDT. The company continues to work with regulators, top academic institutions and opinion leaders to accelerate product development in areas where the product has shown evidence of safety and efficacy for the benefit of patients affected by rare and devastating diseases.
"PDT with PHOTOFRIN is an established treatment. However, more work needs to be done to elevate awareness of this treatment among physicians and patients," said Herrera.
About Photodynamic therapy (PDT) and PHOTOFRIN
Photodynamic therapy with PHOTOFRIN is a two-stage process requiring administration of both drug and light. The first stage of PDT is the intravenous injection of PHOTOFRIN. The second stage of therapy uses illumination with non-burning laser light 4050 hours following injection with PHOTOFRIN. When injected, PHOTOFRINis attracted to certain tissues, especially cancer cells. Tumor destruction results from biochemical reactions, not heat. Tumor selectivity occurs through a combination of preferential retention of PHOTOFRIN by the tumor and selective delivery of light to the tumor site.
PHOTOFRIN is FDA approved for the treatment of non-small cell lung cancer (NSCLC) and esophageal cancer. The product is available in the USA, several major European countries, Japan, several Latin American and Southeast Asian markets. PHOTOFRIN also is approved for high-grade dysplasia (HGD) in Barrett's esophagus (BE) in North America. It also has Orphan Drug Designation (ODD) for cholangio-carcinoma and as adjuvant therapy to surgery for the treatment of malignant pleural mesothelioma.
For additional information about PHOTOFRIN, and safety information, please see the full prescribing information available at www.photofrin.com.
Pinnacle Biologics, Inc. is a privately held bio-pharmaceutical company specializing in revitalizing healthcare therapies to expand therapeutic potential and maximize favorable patient outcomes. The company is headquartered in Bannockburn, Illinois. Its European subsidiary, Pinnacle Biologics BV, is headquartered in Amsterdam and is the holder of the European Marketing Authorizations for Pinnacle products.
SOURCE Pinnacle Biologics, Inc.