NEW YORK, June 1 /PRNewswire-FirstCall/ -- Ortec International, Inc. , a company focused on development and commercialization of products applicable to regenerative medicine and stem cell therapy, today announced that it has received notification from the US patent office that the claims of its patent application on "Novel Haptotactic Peptides," related to its Haptides(TM) technology platform, have been allowed. The patent incorporating these claims is expected to be issued by the end of this year.
Ron Lipstein, Ortec's Vice Chairman and CEO, stated, "This represents the first patent to be granted in the U.S. covering the Haptide(TM) technology, a versatile technology which we believe can improve the efficacy of an array of current biomaterials in the market place today. In addition to in-house product development, we are active in pursuing licensing opportunities with this proprietary peptide to further maximize the potential value of Haptides(TM)."
Haptides(TM), developed at Hapto Biotech, Israel, Ortec's wholly owned subsidiary, by Drs. Gerard Marx and Raphael Gorodetsky, comprise proprietary synthetic peptides that mimic the mechanism by which cells attach to the blood clot protein, fibrinogen, and can improve the activity of a variety of biomaterials by accelerating the attachment of cells. This technology can be used to coat or incorporate Haptides(TM) into existing bioactive or inert biomaterials and implants. Application of Haptides(TM) could therefore have a major impact on a variety of medical materials and devices in the areas of cosmetic tissue augmentation, wound healing, periodontal surgery and orthopedics.
About Ortec International, Inc.
Ortec International, Inc. (ORTN) is a company focused on advancing regenerative medicine and stem cell therapy through the development and commercialization of innovative products by combining advanced cell technology and advanced biomaterials. Ortec's lead product is OrCel(R) (Bilayered Cellular Matrix). Ortec's current focus is the application of OrCel(R) to heal chronic and acute wounds. OrCel(R) is composed of a collagen sponge seeded with allogeneic epidermal and dermal cells. These cells secrete growth factors and cytokines normally found in acute human wounds and are believed to have a beneficial role in promoting tissue repair.
A pivotal clinical trial evaluating a cryopreserved version of OrCel(R) in the treatment of venous leg ulcers has been completed and a Pre Market Approval (PMA) application has been filed. Ortec has recently completed patient enrollment in a confirmatory trial and the data from this trial are expected to be integrated with the results of the pivotal clinical trial and submitted as a clinical supplement to its PMA filing. Ortec has already obtained FDA approvals for use of a non-frozen version of OrCel(R) in the treatment of Epidermolysis Bullosa and donor sites in burn patients. In addition, the FDA has granted Ortec approval to initiate a pivotal (Phase III) trial evaluating OrCel(R) for the treatment of diabetic foot ulcers.
Ortec recently acquired two fibrin derived advanced biomaterial technologies, Fibrin Microbeads (FMB) and Haptides(TM). FMB have the potential to play a significant role in advancing stem cell therapy having demonstrated the ability to efficiently recover adult stem cells and allow for their growth, proliferation, and potential reimplantation into the patient. Haptides(TM) utilize proprietary synthetic peptides that mimic the mechanism of cell attachment to fibrin. These peptides have demonstrated the ability to significantly enhance cell attraction and attachment providing the potential to use Haptides(TM) in the development of product opportunities applicable to the cosmetic tissue augmentation, wound healing, orthopedics, and drug delivery markets.
For more information, visit Ortec's website at http://www.ortecinternational.com .
This news release may contain "forward-looking statements" for the purposes of the United States Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3B-6 under The Exchange Act. Without limitation, statements regarding expected FDA approvals, clinical trial results, product performance, expectations with respect to sales, gross margins, research and development expenditures, earnings per share, capital expenditures, collaborations, or other expansion opportunities would be "forward-looking statements." These statements may be identified by words such as "expects," "anticipates," "intends," "estimates," "believes" or similar expressions in connection with any discussion of future financial and operating performance. The forward- looking statements contained herein involve risks and uncertainties that may cause results to differ materially from the Company's expectations including but not limited to, global economic trends, competitive pricing or product developments, government legislation and/or regulations, technology, manufacturing, legal and patent issues, suppliers, capital availability, personnel changes, cancellation or delays in renewal of contracts, and lack of suitable raw materials or packaging materials. Investors are cautioned to review risk factors in the Company's filings with the United States Securities and Exchange Commission.
FOR MORE INFORMATION, PLEASE CONTACT Elite Financial Communications Group, LLC Dodi Handy, 407-585-1080 or via email at ortn@efcg.net
Ortec International, Inc.CONTACT: Dodi Handy, Elite Financial Communications Group, LLC,+1-407-585-1080, or ortn@efcg.net, for Ortec International
Web site: http://www.ortecinternational.com/
