MONMOUTH JUNCTION, N.J., Nov. 7 /PRNewswire/ -- TyRx Pharma, Inc. today announced its membership with the Combination Products Coalition (CPC). TyRx joins a group of leading companies in the drug, device and biologics industries that will facilitate development of the regulatory environment for combination medical products by advocating policy positions on FDA regulatory issues affecting combination products. The CPC is coordinated through the office of Bradley Thompson of the Law firm of Baker and Daniels. TyRx will be represented at the CPC by Mason Diamond, Vice President for Clinical and Regulatory Affairs.
“Our participation in the CPC reflects TyRx’s dedication to the development of combination medical products,” said TyRx Chief Executive Officer, Bill Edelman, “as well as our commitment to support the Industry-FDA initiatives that will insure the most efficient development and approval of innovative products to meet the challenges facing health care in the 21st century.”
According to Brad Thompson, founding member of the CPC, “We are pleased that TyRx has joined the CPC. We feel that the participation by innovative emerging companies such as TyRx is essential to the ultimate success of the CPC as it advocates on behalf of the emerging combination medical products industry.”
This release follows TyRx’s October 7, 2005, announcement that the company filed a 510(k) application with the FDA for its new bioresorbable polymer coated surgical mesh product. The TyRx bioresorbable polymer surgical mesh is indicated for the repair of hernias and other abdominal fascial or muscular deficiencies requiring the addition of a reinforcing or bridging material to obtain the desired surgical result. The company expects to launch this new surgical mesh in Q1-06. This is the first in a series of combination medical products that TyRx expects to market next year.
In January 2005, TyRx received an equity investment from Boston Scientific Corporation. Since 2002, Boston Scientific and TyRx have been co-developing novel drug eluting coatings for cardiovascular stents under a licensing agreement. TyRx is focused on developing a family of proprietary bioresorbable drug-eluting polymers for use in combination medical devices and specialty pharmaceuticals. Terms of the agreement were not disclosed. The law firm of Brown Rudnick Berlack Israels LLP represented TyRx Pharma in the financing round.
About TyRx Pharma, Inc.
TyRx was organized in 1998 to advance its core technology -- a novel class of tyrosine based biodegradable polymers, referred to as polyarylates. Using combinatorial chemistry, TyRx has created libraries of related polymers with systematically varied chemical structures and predictable physical properties. Using a proprietary polymerization process, TyRx has synthesized and characterized over 100 tyrosine-based polymers that allow TyRx to quickly create custom polymers to meet precise product specifications. TyRx is deploying its coating and delivery technologies across a broad range of medical devices. Combination products are expected to be the highest growth segment of the medical device industry and TyRx is positioned to be an innovative applications leader in the space.
TyRx Pharma, Inc. designs, develops, and commercializes innovative combination medical devices and drug delivery products using patent protected tyrosine-derived polyarylate polymers. For more information, please visit: http://www.tyrxpharma.com.
About the Combination Products Coalition (CPC)
A group of leading companies in the drug, device and biologics industries, the CPC works to improve the regulatory environment for combination products by developing and advocating policy positions on regulatory issues affecting combination medical products. The unique cross-industry membership of the CPC enables diverse thinking that leads to sound policies. This diversity distinguishes the CPC from other industry organizations. For more information, please visit: http://combinationproducts.com.
TyRx Pharma, Inc.
CONTACT: Bill Edelman, CEO of TyRx Pharma, Inc., Office: +1-732-246-8676,Direct: +1-732-964-1101, Cell: +1-617-759-5451, william@tyrxpharma.com
