CryoLife Announces Worldwide License Agreement With Trophic Solutions, LLC for an Organ Transport Solution That Could Extend the
January 08 2008 - 8:00AM
PR Newswire (US)
ATLANTA, Jan. 8 /PRNewswire-FirstCall/ -- CryoLife, Inc.
(NYSE:CRY), a biomaterials, medical device and tissue processing
company, announced today an exclusive license agreement with
Trophic Solutions, LLC to develop and market products related to
the cold storage and preservation of internal organs prior to
transport. Under terms of the agreement, the Company will license
from Trophic Solutions the right to develop, manufacture and market
products and processes derived from a patent owned by Trophic
Solutions, which relates to solutions containing purified
antimicrobial polypeptides and/or cell surface receptor binding
proteins for use for the storage and preservation of internal
organs prior to transplant. In early animal and human studies, the
Trophic technology has shown that kidneys may be stored for up to 6
days prior to transplant without compromising graft function rather
than three days using present technology. These studies also
indicate that the solution may reduce or eliminate the need for
pumping kidneys, which may reduce the cost of maintaining and
transporting kidneys for transplant. Under terms of the agreement,
Jonathan McAnulty, Ph.D. and Christopher J. Murphy, Ph.D.,
co-inventors of the patent and principals of Trophic Solutions,
will consult with CryoLife regarding the development, regulatory
approval, marketing and manufacturing of products developed based
on processes covered by the patent. Trophic Solutions and Drs.
McAnulty and Murphy will undertake, at CryoLife's expense, an
additional animal study to show the efficacy of the processes
covered by the patent on "at risk" kidneys. The agreement gives
CryoLife the exclusive right to determine if a commercial product
can be developed using the processes covered by the patent for a
period of one year, which may be extended for an additional ninety
days. "CryoLife's demonstrated expertise and commitment in
cryopreservation of human tissue is very important to Trophic
Solutions. We believe that they are the perfect partner for
developing products based on our patent, and we are very excited to
announce this relationship," notes Dr. McAnulty. "The ability to
preserve kidneys in a viable state for up to six days, rather than
the current limit of three days would be a significant
advancement," said Steven G. Anderson, CryoLife president and chief
executive officer. "Trophic Solutions' preliminary research has
indicated that kidneys stored in the solution functioned at
acceptable levels. This could have a positive impact on the number
of kidneys that are available for transplant, not only in the
United States, but worldwide. This agreement further underscores
CryoLife's commitment to advancing technology for the cold storage
preservation and distribution of human tissues and organs while
potentially representing a significant step forward in the
technology to preserve whole organs over extended timeframes,"
Anderson said. About Trophic Solutions, LLC Trophic Solutions,
located in Madison, Wisconsin is a Company specializing in
discovering creative solutions for use in organ preservation and
transfer. Trophic Solutions brings together the expertise of Drs.
Jonathan McAnulty and Chris Murphy of the University of Wisconsin
and Ted Reid, Ph.D. of Texas Tech University. The Company has
issued and pending patents in several countries that cover its
innovative solutions. About CryoLife, Inc. Founded in 1984,
CryoLife, Inc. is a leader in the processing and distribution of
implantable living human tissues for use in cardiac and vascular
surgeries throughout the United States and Canada. The Company's
BioGlue(R) Surgical Adhesive is FDA approved as an adjunct to
sutures and staples for use in adult patients in open surgical
repair of large vessels. BioGlue is also CE marked in the European
Community and approved in Canada and Australia for use in soft
tissue repair. The Company also distributes the CryoLife-O'Brien(R)
stentless porcine heart valve which is CE marked for distribution
within the European Community. Statements made in this press
release that look forward in time or that express management's
beliefs, expectations or hopes, including statements regarding the
expected benefits and properties of products and processes related
to Trophic Solutions' patent and the Company's license agreement,
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These future events may
not occur as and when expected, if at all, and are subject to
various risks and uncertainties. These risks and uncertainties
include that commercially feasible products may not be able to be
developed, that studies related to the patents' effectiveness may
not derive positive results, that physicians and hospitals may not
choose to utilize products developed based on the patent, that
necessary regulatory approvals may not be obtained, and that such
products may not perform as expected or provide all expected
benefits. For additional information about the company, visit
CryoLife's Web site: http://www.cryolife.com/ Media Contacts: D.
Ashley Lee Executive Vice President, Chief Financial Officer and
Chief Operating Officer Phone: 770-419-3355 Mike Greenwell
Fleishman Hillard Phone: 404-739-0155 DATASOURCE: CryoLife, Inc.
CONTACT: D. Ashley Lee, Executive Vice President, Chief Financial
Officer and Chief Operating Officer, CryoLife, Inc.,
+1-770-419-3355; or Mike Greenwell, Fleishman Hillard, for
CryoLife, Inc., +1-404-739-0155 Web site: http://www.cryolife.com/
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