Cardigant to Develop Electroporation-Based Intravascular Drug
Delivery System Based on Inovio Patents and Technology
Inovio Biomedical Corporation (NYSE Amex:INO), a leader in DNA vaccine
design, development and delivery, announced today it has granted an
option to a commercial license to develop intravascular catheters using
its proprietary electroporation technology to Cardigant Medical, Inc. of
Long Beach, California. Cardigant intends to develop catheters utilizing
Inovio’s electroporation technology in exchange for an option fee and,
upon exercise of the option, royalties on product sales. Inovio
preclinical and interim clinical data have shown the capability of the
company’s electroporation technology to dramatically enhance cellular
uptake of drugs and genes, and, in the case of genes, levels of gene
expression. These characteristics may enhance the utility of drug or
gene-based therapeutics for treating a variety of vascular conditions,
including vulnerable
plaques and others requiring revascularization.
Jerett Creed, President of Cardigant Medical, said, “We strongly believe
in the potential of this technology to enhance the therapeutic options
available for treating the many components of vascular disease. We view
this technology as an enabling component that we hope will translate
into improved clinical outcomes for patients worldwide.”
Dr. J. Joseph Kim, CEO of Inovio Biomedical, stated, “Inovio’s
significant electroporation patent estate and well-developed technology
encompasses a broad scope of medical applications, with many potentially
important development opportunities. While Inovio is devoted to the
advancement of its proprietary pipeline of electroporation-delivered DNA
vaccines for diseases such as HPV, HIV and influenza, we are pleased to
establish this relationship with Cardigant. We wish them success in
their endeavor to commercialize this promising application of
electroporation technology.”
About Cardigant Medical Inc.
Cardigant Medical Inc is an early stage medical technology company
focused on novel designs for enhanced delivery of therapeutic agents
used to treat the many complexities of today’s vascular disease. The
company was founded on the idea that innovation, as it relates to new
products, requires a desire to think beyond the current understanding of
a product or technology and a fundamental resolve to follow the path
this new understanding brings.
