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Lux Biosciences Gains
Exclusive Worldwide License for Polyarylate
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Innovative biomaterials technology to be explored as a proprietary, JERSEY CITY, N.J. – September 13, 2006 – Lux Biosciences, Inc., a privately held biotechnology company specialized in the field of ophthalmic diseases, today announced it has entered into an exclusive license agreement with Rutgers, The State University of New Jersey, to access their polyarylate patent estate. Lux expects to work in partnership with Rutgers to leverage the assets for the treatment of eye diseases affecting the ocular surface or the back of the eye. Potential therapeutic benefits include sustained therapeutic drug levels at or near the site of the disease, resulting potentially in superior efficacy, while limiting systemic exposure to the drug thus potentially minimizing side effects. Additional advantages include continuous drug delivery over long periods of time, increasing patient convenience and compliance. Financial terms of the agreement were not disclosed. "Exclusive access to the Rutgers polyarylate patent estate is a very exciting opportunity for Lux as we pursue novel treatment options for a variety of eye diseases," said Ulrich Grau, Ph.D., president and chief executive officer of Lux Biosciences. "We believe that this technology will provide Lux a competitive advantage in the development of important proprietary ophthalmic therapies that will overcome critical drawbacks of current treatment options." The license includes approximately 10 issued patents and several patent applications as well as use of a combinatorial library of 114 polymers with a range of physical properties. Lux, the Center for Biomaterials at Rutgers University, and the Director of the Center and inventor of the polyarylate technology, Professor Joachim Kohn, will also collaborate in the context of a research agreement. Lux will access the technology, the expertise, and the state of the art infrastructure at the Center to develop bioerodable, polymers capable of eluting drug molecules as a platform for ophthalmic drug products. "We are delighted to work with Lux Biosciences to further explore the potential of the polyarylate technology for human use," said Joachim Kohn, Ph.D., Board of Governors Professor of Chemistry and Director of the Center for Biomaterials at Rutgers University. "The potential of the polyarylate technology for drug eluting implants in and near the eye is another exciting and highly specialized application of our biomaterials technologies, in addition to work currently being conducted by us and our industrial partners on radioopaque, resorbable drug eluting stents, polymer meshes for surgical use, and high-strength polymer composites for bone replacements, to name a few." About the Polyarylate Technology Polyarylates are a family of polymers derived from the naturally occurring amino acid tyrosine (an “aryl” amino acid) and naturally occurring diacids, such as glutaric or adipic acid. The combinatorial library available at Rutgers consists of 114 polymers with varying physical features, such as glass transition temperature which is critical for molding of the polymer into specific shapes. The polymer matrix allows for hydrogen bonding and other stabilizing interactions with the embedded drug molecule and is, thus, also well suited for natural drug products such as peptides. The polymer is bioerodible; when exposed to body fluids it breaks down slowly into the monomeric building blocks (tyrosine derivatives and diacids) and is resorbed. Meanwhile, the embedded drug elutes slowly, providing therapeutic drug levels, for instance over the course of one year, at a near- constant rate. A polyarylate polymer, developed by a Rutgers partner company, has been successfully used as coating of a mesh for hernia repair, and has been cleared by FDA recently. The technology, which has been invented at Rutgers, is covered by a large patent estate with remaining patent life ranging from 2010 to the mid-2020s. About Rutgers, The State University of New Jersey, and the Center for Biomaterials Established in 1766, Rutgers is America's eighth oldest institution of higher learning and one of the nation's premier public research universities. Serving more than 50,000 students on campuses in Camden, Newark and New Brunswick/Piscataway, Rutgers offers more than 280 bachelor's, master's, doctoral and professional degree programs. The university is home to 30 degree-granting schools and colleges, and more than 150 specialized centers and institutes. With 320,000 living alumni, Rutgers graduates are major contributors to all sectors of contemporary life. The New Jersey Center for Biomaterials is a research consortium of three universities (Rutgers, New Jersey Institute of Technology, and University of Medicine and Dentistry of New Jersey), about 20 corporate partners including large and small companies with interests in biomaterials science, and a diverse group of research-active faculty. Established in 1997, the New Jersey Center for Biomaterials has grown into a major, federally funded research center with an extensive biomaterials patent portfolio So far, six companies have licensed biomaterials technologies developed at the Center. About Lux Biosciences Lux Biosciences is a privately held biotechnology company dedicated to the identification, optimization, development and commercialization of products for the treatment of ophthalmic diseases. The company's business strategy is characterized by: -- A focus on compounds already marketed or with clinical proof of concept in non-ophthalmic indications that Lux will develop as unique, targeted therapies for corresponding ophthalmic diseases, with potentially greater efficacy and safety than existing treatments. -- A
clinical-stage portfolio of projects including a next-generation calcineurin
inhibitor that has potential in This strategy is being implemented by an experienced, execution-oriented management team that combines a history of achievement in drug development and commercialization with deep insight and scientific expertise in immunology and ophthalmology. More information on Lux Biosciences can be found at www.luxbio.com. CONTACTS: Lux
Biosciences
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