Pressure BioSciences, Inc. Announces Collaboration with SinuSys Corporation
January 20, 2021 at 08:31 am EST
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Pressure BioSciences, Inc. announced a collaboration with SinuSys Corporation. The primary goal of the collaboration is to evaluate the feasibility of PBI's innovative Ultra Shear Technology™ ("UST™") platform to improve the effectiveness of SinuSys Corp.'s lead product candidate Restora. If successful, SinuSys intends to license PBI's UST platform for use in Restora on its continued path to FDA approval in a Phase IIb clinical study later in 2021. SinuSys reports that chronic sinusitis affects more than 31 million people in the United States and that it is more prevalent than heart disease or asthma and has a greater impact on patients' quality of life than chronic back pain or congestive heart failure. The majority of patients with chronic sinusitis are treated with oral antibiotics and/or nasal steroids, which can increase the risk of antibiotic resistance and cause unwanted side effects such as nose bleeds, nasal ulcers, and nasal and oral infections. The most effective sinusitis treatment is Functional Endoscopic Sinus Surgery (FESS) with rapid balloon dilation at high pressures, which is known to cause significant patient discomfort and is conducted in a surgical suite under general anesthesia or IV sedation. Annually, it is estimated that $11 billion is spent in the U.S. alone on improving the health of patients with sinus conditions. SinuSys Corporation, a medical device company focused on developing new therapies to improve the sinus health of patients, is led by co-founder and CEO Thomas A. Schreck. Prior to SinuSys, Mr. Schreck was the founding Chairman and CEO of AcelRx, as well as the founding CEO and President, CFO, and Director of DURECT Corporation. He has also held various investment banking positions in the San Francisco Bay area and London and has raised over $300 million for medical device and biotechnology companies throughout his career. In the post-surgical nasal drug delivery markets, two companies that stand out at present are Intersect ENT and Lyra Therapeutics. Intersect is a medical technology company with existing products on the market, including mini drug-releasing implants for patients undergoing sinus surgery to treat chronic sinusitis. Lyra is a clinical-stage company developing drugs and new treatment options targeting ears, nose, and throat ("ENT") conditions.
Pressure BioSciences, Inc. is engaged in the development and sale of enabling, high pressure technology-based instruments, consumables, and services for the life sciences and other industries worldwide. Its products/services are based on three high-pressure platforms: Ultra Shear Technology (UST), BaroFold Technology (BaroFold), and Pressure Cycling Technology (PCT). The UST platform allows for the creation of stable nanoemulsions of otherwise immiscible oil-based active components in water. It also allows for the preparation of higher quality, homogenized, extended shelf-life or room temperature-stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. PCT utilizes alternating cycles of pressure to control biomolecular interactions (such as cell lysis and biomolecule extraction) safely and reproducibly. The BaroFold platform provides valuable contract services and GMP manufacturing equipment to the biopharmaceutical industry.