ISTO
29.04.2013 14:31
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Collaboration Agreement With Zimmer Holdings, Inc. Ended
ISTO to Proceed Independently With Phase III Clinical Trial
ST. LOUIS, April 29, 2013 (GLOBE NEWSWIRE) -- ISTO Technologies, Inc. announced
today an agreement with Zimmer Holdings, Inc. whereby ISTO has assumed full
control of the DeNovo(r) ET Engineered Tissue program, an engineered cartilage
implant intended to repair cartilage defects in the knee. Under the terms of
the agreement, any rights and responsibilities previously held by Zimmer
related to ISTO and the program have been cancelled. ISTO has renamed the
product RevaFlex(TM) and will proceed independently with further development of
the program through a Phase III clinical program.
ISTO Technologies is committed to developing breakthrough products to
regenerate and restore function to damaged cartilage and bone. As part of its
cell-based orthobiologic platform, the company is currently involved in the
development of two unique and potentially ground-breaking cell-based products
intended to treat two of the leading causes of disability in the United States.
In addition to RevaFlex(TM), ISTO is developing NuQu(r), a minimally-invasive
early intervention treatment for discogenic back pain. The Company initiated
Phase II clinical trials for NuQu in late December 2012. Both the RevaFlex and
NuQu programs address significant unmet medical needs related to chronic pain
and disability resulting from cartilage wear and degeneration problems that
occur in the knee and lower back, respectively. ISTO's proprietary
cell-expansion process provides the foundation for both programs. Through this
process, allogeneic cells are expanded to create products capable of treating
thousands of patients from a single donor, thus offering an economy of the
scale and 'off-the-shelf' therapeutic solution not possible with cartilage
programs utilizing autologous cells.
In addition, under the terms of the termination of the collaboration agreement,
ISTO will transfer ownership of DeNovo(r) NT, a particulated juvenile cartilage
allograft tissue implant product, to Zimmer.
About ISTO
ISTO is a leading privately-held regenerative medicine company dedicated to
improving patient quality of life through the development of proprietary
products for spinal therapies and sport medicine applications. ISTO's products
are intended for the repair and regeneration of damaged or injured cartilage
and bone. For additional information on ISTO, please visit our website at
www.istotech.com.
CONTACT: ISTO Technologies, Inc.
Scott Gill
Chief Financial Officer
(314) 995-6049
The Ruth Group
Nick Laudico (investors)
(646) 536-7030
nlaudico@theruthgroup.com
Lisa Cook (media)
(646) 536-7012
lcook@theruthgroup.com
News Source: NASDAQ OMX
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Company: ISTO
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End of Announcement DGAP News-Service
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DGAP-News: ISTO Technologies Assumes Full Control of DeNovo ET Cartilage Repair Technology Program
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