MONMOUTH, N.J., Jan. 29 /PRNewswire/ -- TyRx Pharma, Inc., a privately held company located in Monmouth Junction, NJ, today announced that it has entered into a strategic alliance with C. R. Bard, Inc. ("Bard") for certain TyRx technologies. The alliance, among other things, involves consideration to TyRx Pharma for the licensing of certain TyRx technologies and proprietary know-how and co-development with a Bard subsidiary utilizing TyRx technology and manufacturing know-how with certain products of a Bard subsidiary. Terms were not announced. The law firm of McDermott Will & Emery LLP represented TyRx Pharma in the transaction.
"We are extremely excited to have reached this value-creating milestone with the announcement of a licensing agreement and corporate alliance with a company of Bard's stature in the device industry," said Bill Edelman, CEO of TyRx Pharma. "Validation of the TyRx technology, proprietary know-how and business model in the combination medical product sector with this transaction, combined with our ongoing collaboration with Boston Scientific, will continue to build the TyRx platform as we grow the company."
On December 6th, TyRx was awarded ISO 9001:2000 and ISO 13485:2003 certification in addition to being certified as compliant with the Canadian Medical Devices Directives (CMDCAS), signifying compliance with internationally recognized standards in design, development and manufacturing of medical products.
This notice follows the October 16th announcement that TyRx Pharma, Inc., filed a Premarket Application for PIVIT(TM) CRM, an innovative mesh pouch coated with TyRx's proprietary bioresorbable polymer. These polymers contain the antimicrobial agents rifampin and minocycline, and are designed to enclose a pacemaker or ICD pulse generator when implanted in the body. PIVIT(TM) CRM acts to provide protection from microbial colonization of the pulse generator during surgical implantation. According to a recent study presented during the Heart Rhythm Society 2006 Scientific Sessions (Boston) the University of Pittsburgh Medical Center noted that the 2003 national incident of infection for pacemakers was estimated to be 5.82% and for ICDs 3.71%.
In July 2006, FDA granted TyRx 510(k) clearance for PIVIT(TM) AB, TyRx's Antimicrobial Surgical Mesh coated with rifampin and minocycline intended to provide protection from microbial colonization of the device during surgical implantation. In December 2005, FDA granted 510(k) clearance for PIVIT(TM), TyRx's 1st bioresorbable polymer coated surgical mesh product. The unique properties associated with the PIVIT(TM) surgical mesh products provide excellent handling characteristics that facilitate precise placement during surgical repair of soft tissue defects, leaving less implant material following the resorption of the bioresorbable polymer coating.
About TyRx Pharma, Inc.
TyRx Pharma, Inc., an ISO 9001:2000 and ISO 13485:2003 certified medical device manufacturer, commercializes combination medical products utilizing novel biomaterials technology licensed exclusively from Rutgers, The State University of New Jersey. Additionally, TyRx has exclusively licensed from Baylor College of Medicine and The University of Texas M. D. Anderson Cancer Center product patents and associated technologies to address the problem of postsurgical nosocomial infection. TyRx is deploying its capabilities across a broad range of combination products. The combination products sector (products incorporating both a drug & a device component) is expected to be the highest growth segment of the medical products industry and TyRx is positioned to be an innovative applications leader in the space. For more information, please visit www.tyrxpharma.com.
TyRx Pharma, Inc.CONTACT: Bill Edelman, CEO, TyRx Pharma, Inc., Office - +1-732-246-8676,Direct - +1-732-964-1101, Cell - +1-617-759-5451, william@tyrxpharma.com
Web site: http://www.tyrxpharma.com/
