Inncardio, Inc. Announces Agreement With Sigmoid Biotechnologies Ltd.
NEW YORK, April 18 /PRNewswire-FirstCall/ -- Inncardio, Inc. (BULLETIN BOARD: INDO) , a company founded by Bioaccelerate Holdings Inc. (BULLETIN BOARD: BACL) , today announced an agreement with Sigmoid Biotechnologies Ltd., based in Dublin, Ireland, for the co-development and license of two novel formulations of established drugs. Upon approval and commercialization, these drugs, which utilize Sigmoid's proprietary delivery and formulation technology, are anticipated to achieve combined peak annual sales of more than $1.0bn. Terms of the agreement were not disclosed.
"We believe the combination of the products we are developing and the technological expertise provided by Sigmoid Biotechnologies will extend and enhance our current product development portfolio," stated Bernard Ross, Chief Executive Officer of Inncardio. "This agreement represents a further execution of Bioaccelerate's strategy to invest in new formulations of well-established drugs and the rapid development and value enhancement of new drugs. Our business model provides investors with a balance of lower risk, near-to-market development products and pre-clinical blockbuster opportunities."
"This agreement provides an accelerated route to market for two of our lead products. We anticipate that the first of our co-developments with Inncardio, our first with Bioaccelerate, will be ready for marketing approval in under 24 months," said Ivan Coulter, Ph.D., Chief Executive Officer of Sigmoid Biotechnologies.
About Sigmoid Biotechnologies Ltd.
Founded by former Elan and NTera executives in 2003, Sigmoid Biotechnologies is focused on the development of a proprietary drug delivery technology, LEDDS(TM). Uniquely, LEDDS is positioned to enable the development of controlled release of drugs that are formulated in liquid or emulsion format, a process that previously was suited only to drugs that are available in powder form. Thus, LEDDS represents a unique opportunity in drug delivery.
As a broadly applicable, patent-protected technology LEDDS is positioned to exploit opportunities to improve therapeutics in the pharmaceutical, biopharmaceutical veterinary and nutraceutical industries. Sigmoid has identified several such opportunities that will benefit from a range of LEDDS controlled release formats as well as from the development of novel drug combination approaches that will lead to improved efficacy or bioavailability.
About Inncardio, Inc.
Inncardio, Inc., a company founded by Bioaccelerate Holdings Inc. (BULLETIN BOARD: BACL) , is a biotechnology company engaged in the acquisition, development and commercialization of treatments and therapies targeted at various cardiovascular and metabolic diseases. The Company's management team is focused on both the ongoing development of Inncardio's products to build value prior to partnering and the in-licensing of additional cardiovascular products to further enhance the Company's commercial value. The Company currently has six compounds in its portfolio. The three lead programs are novel formulations of approved drugs where, re-formulation is predicted to either improve efficacy or minimize side effects. The three other products are novel compounds and are in pre-clinical development. Inncardio's lead development product is being investigated for use as a post-stroke therapy that has a novel delivery profile and is targeted to reduce the incidence and severity of ischemic deficits in patients with subarachnoid hemorrhage from rupture intracranial berry aneurysm.
Bioaccelerate Safe Harbor Statement
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with pre-clinical and clinical developments in the biopharmaceutical industry in general and in Inncardio or Bioaccelerate's compounds under development in particular; the potential failure of Inncardio or Bioaccelerate's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Inncardio or Bioaccelerate's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Inncardio or Bioaccelerate's business, structure or projections; the development of competing products; uncertainties related to Inncardio or Bioaccelerate's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under Bioaccelerate's prior name Mobile Design Concepts, Inc. and Inncardio's prior name Softwall Equipment Corp. Inncardio and Bioaccelerate disclaim any obligation to update these forward-looking statements.
CONTACT: Bioaccelerate Holdings Inc. Christopher O'Toole Senior Vice President 212-332 4387 Inncardio Inc. Bernard Ross Chief Executive Officer +44 (0) 207 451 2478 Sigmoid Biotechnologies Ltd. Ivan Coulter Chief Executive Officer +353 (0) 87 418 6087 Matthew Haines (Investors) Vice President Noonan Russo 212-845-4235 Emily Poe (Media) Vice President Noonan Russo 212-845-4266
Ltd.Inncardio Inc.; Bioaccelerate Holdings Inc.; Sigmoid Biotechnologies
CONTACT: Christopher O'Toole, Senior Vice President of BioaccelerateHoldings Inc., +1-212-332 4387; or Bernard Ross, Chief Executive Officer ofInncardio Inc., +44-207-451-2478; or Ivan Coulter, Chief Executive Officer ofSigmoid Biotechnologies Ltd., +353-87-418-6087; or Investors: Matthew Haines,Vice President, +1-212-845-4235, or Emily Poe, Vice President, +1-212-845-4266,both of Noonan Russo, for Bioaccelerate Holdings Inc. and Inncardio Inc.