Navidea Biopharmaceuticals Announces Acceptance into the National Institutes of Health Commercialization Accelerator Program
September 17 2018 - 5:30PM
Business Wire
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB)
(“Navidea” or the “Company”), a company focused on the development
of precision immunodiagnostic agents and immunotherapeutics,
announced today acceptance into the National Institutes of Health
(“NIH”) Commercialization Accelerator Program (“CAP”)
2018-2019.
The Company was selected for CAP due to its successful
completion of a Small Business Innovation Research (“SBIR”) Fast
Track grant from the NIH (grant number R44 AR067583-01A1; Frederick
Cope, PI) entitled 99mTc-Tilmanocept for Targeting Rheumatoid
Arthritis (“RA”)-Driving Macrophages. Navidea has been assigned to
the Advanced Commercialization Track (“ACT”) of CAP.
CAP is designed to facilitate and accelerate the commercial
success of SBIR-funded commercialization projects. Navidea will
participate in CAP for nine months beginning in October 2018,
during which the program will provide technical support for
Navidea’s RA imaging-related commercialization initiative and is
expected to facilitate establishment of contacts between Navidea
and potential corporate collaborators and partners and between
Navidea and potential investors.
“Navidea is pleased and honored to have been selected for the
highly competitive CAP program,” said Mr. Jed A. Latkin, Chief
Executive Officer of Navidea. “Selection in this program reflects
the strength of our team and an opportunity for our novel pipeline
of diagnostics. I expect that participation in the program will
provide the Company with non-dilutive assistance to advance our RA
program and will increase Navidea’s exposure to industry players
and potential investors. We look forward to working with the CAP
network to develop a comprehensive marketing strategy, which has
the potential to propel Navidea towards commercial success.”
About Navidea
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) is a
biopharmaceutical company focused on the development of precision
immunodiagnostic agents and immunotherapeutics. Navidea is
developing multiple precision-targeted products based on its
Manocept™ platform to enhance patient care by identifying the
sites and pathways of disease and enable better diagnostic
accuracy, clinical decision-making, and targeted treatment.
Navidea’s Manocept platform is predicated on the ability to
specifically target the CD206 mannose receptor expressed on
activated macrophages. The Manocept platform serves as the
molecular backbone of Tc 99m tilmanocept, the first product
developed and commercialized by Navidea based on the platform. The
development activities of the Manocept immunotherapeutic platform
are being conducted by Navidea in conjunction with its subsidiary,
Macrophage Therapeutics, Inc. Navidea’s strategy is to deliver
superior growth and shareholder return by bringing to market novel
products and advancing the Company’s pipeline through global
partnering and commercialization efforts.
For more information, please visit www.navidea.com.
Forward-Looking Statements
This release and any oral statements made with respect to the
information contained in this release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such forward-looking statements include those
relating to the Company’s participation in CAP, its growth and
exposure to industry participants, its marketing strategy, its
potential for commercial success, and ability to establish contacts
with potential collaborators, partners, and investors. We have
based these forward-looking statements largely on our current
expectations and projections about future events and financial
trends affecting the financial condition of our business. These
forward-looking statements are subject to a number of risks,
uncertainties and assumptions, including, among other things:
general economic and business conditions, both nationally and in
our markets; our history of losses and uncertainty of future
profitability; the final outcome of the CRG litigation in Texas;
our ability to successfully complete research and further
development of our drug candidates; the timing, cost and
uncertainty of obtaining regulatory approvals of our drug
candidates; our ability to successfully commercialize our drug
candidates; our expectations and estimates concerning future
financial performance, financing plans and the impact of
competition; our ability to raise capital sufficient to fund our
development and commercialization programs; our ability to
implement our growth strategy; anticipated trends in our business;
advances in technologies; and other risk factors and detailed in
our most recent Annual Report on Form 10-K and other SEC filings.
You are urged to carefully review and consider the disclosures
found in our SEC filings, which are available
at www.sec.gov or at http://ir.navidea.com.
Investors are urged to consider statements that include the
words “will,” “may,” “could,” “should,” “plan,” “continue,”
“designed,” “goal,” “forecast,” “future,” “believe,” “intend,”
“expect,” “anticipate,” “estimate,” “project,” and similar
expressions, as well as the negatives of those words or other
comparable words, to be uncertain forward-looking statements.
You are cautioned not to place undue reliance on any
forward-looking statements, any of which could turn out to be
incorrect. We undertake no obligation to update publicly or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise after the date of this
report. In light of these risks and uncertainties, the
forward-looking events and circumstances discussed in this report
may not occur and actual results could differ materially from those
anticipated or implied in the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20180917005799/en/
Navidea Biopharmaceuticals, Inc.Jed Latkin,
614-551-3416CEOjlatkin@navidea.comorEdison AdvisorsJoseph
Green, 646-653-7030jgreen@edisongroup.com
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