Cambridge, MA (PRWEB) November 13, 2013
President and CEO, Dr. Kenneth Mandell, announces the formation of LayerBio, Inc. and inks an exclusive option for a unique technology from Massachusetts Institute of Technology (MIT). Under this agreement, LayerBio will commercialize a drug delivery platform developed in the laboratory of Co-Founder Dr. Paula Hammond, David H. Koch Professor in Engineering and leading expert in biomaterials and drug delivery. Dr. Hammond maintains her faculty position at MIT and joins LayerBio as Chair of the Scientific Advisory Board.
“Securing an option agreement with MIT marks a significant event in the formation of LayerBio. Dr. Hammond represents the highest caliber of scientific expertise and the technology offers multiple opportunities for improved drug delivery in the fields of ophthalmology, wound care and other therapeutic areas,” commented Dr. Mandell.
LayerBio’s platform, LayerForm™, is a conformal, tunable and bioerodible polymer technology that enables coating and release of drugs from various medical devices. It is compatible with small molecules, nucleic acids and biologic drugs and has been tested on a variety of substrates, including bandages, sutures, ophthalmic lenses and other topical and implantable devices. There are numerous potential applications for LayerBio’s distinctive technology.
LayerBio will initially focus on applications in ophthalmology and wound care. These markets are rapidly-growing with significant unmet needs for effective drug delivery. “By targeting therapies in controlled fashion to the site of action, including drugs that are typically more challenging to deliver such as siRNA and biologics, our technology can improve safety, efficacy and convenience for patients,” said Dr. Hammond.