Ocata Therapeutics Receives SBIR Grant from the NIH’s National Eye Institute to Develop Proprietary Photoreceptor Progenito...
September 01 2015 - 9:15AM
Business Wire
Ocata Therapeutics, Inc. (NASDAQ:OCAT), a leader in the field of
Regenerative Ophthalmology™, today announced that it has been
awarded a Small Business Innovation Research (SBIR) grant from the
National Eye Institute (NEI), part of the National Institutes of
Health (NIH), to fund Investigational New Drug (IND)-enabling
preclinical development of Ocata’s proprietary photoreceptor
progenitor product for the treatment of retinal degenerative
diseases, such as retinitis pigmentosa (RP) and photoreceptor
dystrophies.
“Ocata has developed a unique and novel method for robust
differentiation of human pluripotent stem cells into pure,
renewable populations of retinal photoreceptor cells,” said Robert
Lanza, M.D., Chief Scientific Officer at Ocata, and Principal
Investigator of the grant. “Our studies in multiple animal models
have shown that these cells can integrate into damaged retina,
promote survival of host photoreceptors, and restore vision in
completely blind animals, using either embryonic stem cells or
induced pluripotent stem cells as source material.”
Retinal degenerative diseases are characterized by loss of
photoreceptor cells resulting in permanent loss of vision and often
blindness. Currently there is no curative therapy. These conditions
exert extensive societal burdens on quality-of-life, productivity,
and health-care costs, and thus an urgent need exists to develop
strategies for retinal survival, repair, and replacement to combat
RP and other degenerative diseases of the retina. The photoreceptor
cell product developed by Ocata has been shown to have
neuro-protective and restorative activity, in animal models, for
both early and end stage retinal degenerative diseases.
“This second grant from the NIH, within weeks of our recently
announced grant for the development of our HMC™ product to treat
lupus, underscores our leadership in cell based therapy and
recognizes the promise of our photoreceptor product as a potential
new treatment for retinal degenerative diseases,” said Paul K.
Wotton, President and CEO. “The depth and breadth of our pipeline
provides a solid foundation to build a world class company based on
innovative regenerative medicine technologies. Our goal is to
aggressively develop our pipeline with the intent to file IND
applications with the FDA as expeditiously as possible.”
About Ocata Therapeutics, Inc.
Ocata Therapeutics, Inc. is a clinical stage biotechnology
company focused on the development and commercialization of
regenerative ophthalmology therapeutics. Ocata’s most advanced
products are in clinical trials for the treatment of Stargardt’s
macular degeneration, dry age-related macular degeneration, and
myopic macular degeneration. Ocata’s intellectual property
portfolio includes pluripotent stem cell platforms – hESC and
induced pluripotent stem cell (iPSC) – and other cell therapy
research programs. For more information, visit www.ocata.com.
Forward-Looking Statements
All statements, other than historical facts, contained in this
news release, including statements regarding Ocata’s belief
regarding the continued development of its photoreceptor product,
the ability to produce and the potential effectiveness of a
pluripotent stem cell-derived product to treat retinal degenerative
diseases, Ocata’s plans to develop its product pipeline and file
IND applications and the expected timing of those activities, and
any other statements about Ocata’s future expectations, beliefs,
goals, plans, results or prospects expressed by management
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any statements
that are not statements of historical fact (including statements
containing the words “will,” “believes,” “plans,” “anticipates,”
“expects,” “estimates,” and similar expressions) should also be
considered to be forward-looking statements. There are a number of
important factors that could cause actual results or events to
differ materially from those indicated by such forward-looking
statements, including: the fact that Ocata has no product revenue
and no products approved for marketing; Ocata’s limited operating
history; Ocata’s need for and limited sources of future capital;
potential failures or delays in obtaining regulatory approval of
products; risks inherent in the development and commercialization
of potential products; reliance on new and unproven technology in
the development of products; the need to protect Ocata’s
intellectual property; the challenges associated with conducting
and enrolling clinical trials; the risk that the results of
clinical trials may not support Ocata’s product candidate claims;
the risk that physicians and patients may not accept or use Ocata’s
products, even if approved; Ocata’s reliance on third parties to
conduct its clinical trials and to formulate and manufacture its
product candidates; and economic conditions generally. Additional
information on potential factors that could affect our results and
other risks and uncertainties are detailed from time to time in
Ocata’s periodic reports, including its Annual Report on Form 10-K
for the fiscal year ended December 31, 2014. Forward-looking
statements are based on the beliefs, opinions, and expectations of
Ocata’s management at the time they are made, and Ocata does not
assume any obligation to update its forward-looking statements if
those beliefs, opinions, expectations, or other circumstances
should change. Forward-looking statements are based on the beliefs,
opinions, and expectations of Ocata’s management at the time they
are made, and Ocata does not assume any obligation to update its
forward-looking statements if those beliefs, opinions,
expectations, or other circumstances should change. There can be no
assurance that Ocata’s future clinical trials will be successful or
that the results of previous clinical studies will lead to
commercialization or products or therapies.
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Investors:Westwicke PartnersJohn Woolford,
443-213-0506john.woolford@westwicke.comorPress:Russo PartnersDavid
Schull, 858-717-2310david.schull@russopartnersllc.com
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