Columbus, OH (PRWEB) March 8, 2011
N8 Medical, Inc., a leading developer of antimicrobial peptide mimics focused on reducing or eliminating certain hospital acquired infections, announced today that it completed its initial equity raise. N8 expects to use the proceeds from the financing for its licensing and development activities as well as for the development and commercialization of its own antimicrobial products and devices. The company stated that the financing is expected to be sufficient to fund all planned company activities well into and potentially through 2013, including its programs in dermatology, orthopedics and development of enhanced coating technologies for medical devices.
“We are extremely pleased to have financed our operations through the foreseeable future, including planned development activities to support our licensing efforts and the regulatory clearance of our initial antimicrobial medical device. We have assembled an outstanding management team and advisory board, as well as an esteemed group of scientific experts,” commented David J. Richards, Chief Executive Officer of N8 Medical. “We have already made considerable progress and look forward to both completing additional license agreements and furthering our development goals. This funding also satisfies our projected needs of taking the first device through regulatory clearance.”
N8 Medical is currently in discussions with more than 13 of the leading medical device companies to sublicense its antimicrobial coating technologies in various field of use licenses. Carl Genberg, Chief Technology Officer, stated:
“The high level of interest in our technology that we have received from leading medical device companies reflects the large, unmet medical need for antimicrobial technology that has the potential to dramatically reduce hospital acquired infections. The aging of the baby boomer generation will pose a major challenge over the next decade as the absolute number of patients who become infected with these life-threatening infections is likely to significantly increase.”
N8 Medical recently announced the formation of its scientific advisory board comprised of leading experts in the field.
About N8 Medical:
N8 Medical is an emerging biomedical technology company focused on creating innovative medical devices, preventing hospital acquired infections, and developing pharmaceuticals to effectively combat a broad spectrum of infectious diseases and microbes, including those attributable to multidrug resistant bacteria. Our core technology is a new class of patented synthetic antimicrobial compounds that mimic key components of the human innate immune system. These ceragenin compounds exhibit broad activity against harmful microorganisms that lead to infection and, in some cases, death. We are a privately held, private equity-backed entity. For more information about N8 Medical and the ceragenin technology, visit http://www.n8medical.com.
About Ceragenin Technology:
Ceragenins were invented and initially developed in the laboratory of Professor Paul B. Savage, Ph.D. at Brigham Young University. The ceragenin technology has been the subject of more than 30 peer-reviewed journal articles and 26 scientific poster presentations.
To arrange an interview with Carl Genberg, Chief Technology Officer at N8 Medical, please contact him at carlgenberg (at) n8medical (dot) com. For further information, please contact Elizabeth Lucas at elucas (at) n8medical (dot) com.
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