ST. PAUL, Minn., Jan. 6 /PRNewswire/ -- Nanocopoeia, Inc. has been awarded Small Business Innovation Research (SBIR) grants totaling $361,000 from the National Science Foundation (NSF) and the National Institutes of Health (NIH) to prove the feasibility of its next-generation technology for coating medical stents. Upon completion of this Phase I research early in 2006, the company becomes eligible to apply for Phase II follow-on funding totaling more than $2 million. The grant from NSF, awarded under its Manufacturing Innovation Initiative, funds development and scale-up of Nanocopoeia’s ElectroNanospray(TM) process for applying nanoparticle-based drug-eluting coatings to coronary stents. The grant from NIH, awarded under its Bioengineering Nanotechnology program, funds evaluation of coating performance in terms of controlled drug release and coating integrity.
The SBIR program was established to fund the initial development stages of groundbreaking technologies like the ElectroNanospray(TM) process, which moves substantially beyond the limitations of current, one-dimensional medical stent coating technology and enables the next generation of proprietary, multi- functional stent coatings based on sophisticated, engineered depositions and coating designs. Under the SBIR Phase II program, which is designed to prepare for commercialization with private-sector partners, Nanocopoeia will focus on process development and material and process validation. Nanocopoeia is initiating discussions with potential partners to identify the best candidate for collaboration on Phase II work and for commercialization.
The market for drug-eluting stents is one of the fastest growing segments in the medical device industry. Significant improvement in clinical outcomes associated with the use of these products is driving the growth. First- generation products combining therapeutic drugs with the implantable stents reached the market in 2004 and have generated in excess of $5 billion in global sales to date. According to Nanocopoeia’s CEO, Robert A. Hoerr, MD, PhD, “Nanocopoeia expects that its second-generation, engineered nanocomposite coating, which could allow for staged and targeted delivery of therapeutics from the stent surface, will significantly improve upon the potential for positive clinical outcomes and will further boost market potential.
“We are delighted to be a multiple-SBIR winner,” Hoerr continues. “We understand that this is a highly competitive review process carried out by expert scientific panels, and that our selection for multiple awards clearly validates the promise of our novel approach to coating medical stents.”
Nanocopoeia ( http://www.nanocopoeia.com ) is commercializing its proprietary process for delivering advanced coatings to the converging industries of devices, drugs, and delivery. The company’s ElectroNanospray(TM) technology is used to apply polymers and drugs to medical devices as well as to formulate drugs for enhanced therapeutic delivery. The Company’s business model is to provide value-added development and formulation services to corporate partners.
For more details, contact Karen M. Arnold at info@nanocopoeia.com or (651) 209-1184.
Nanocopoeia, Inc.
CONTACT: Karen M. Arnold, Chief Financial Officer of Nanocopoeia, Inc.,+1-651-209-1184 (office), or +1-651-209-1187 (fax), or info@nanocopoeia.com
Web site: http://www.nanocopoeia.com/
