Cambridge, Mass (PRWEB) February 10, 2014
The National Cancer Institute division of the NIH has recently awarded Chrono Therapeutics (CHRONO), a pioneer in digital drug products, a $2.23M grant to commercialize its lead product-SmartStop.™ Smartstop is the first “smart" transdermal nicotine replacement therapy (NRT) system that synchronizes the delivery of nicotine at the times of cravings to prevent cravings from occurring.
Smartstop is the lead product of the Company’s digital-health technology platform and is the first fusion of optimized NRT and individualized digital behavioral support.
The grant is the first time the NIH has issued an initial Fast Track Phase I/Phase II grant this large for a programmable NRT product. The recently awarded grant builds upon a 2012 grant from the NIH that supported initial in vitro testing, infrastructure and product development. The additional grant will be used to conduct the final clinical trial.
“Receiving a grant award this large from a prestigious public health organization like the NIH validates our approach to address the serious epidemic that kills a half million Americans every year,” commented Alan Levy, the new CEO and Chairman of the Board of Chrono Therapeutics.
A Smarter Way to Quit
SmartStop’s wearable transdermal nicotine delivery system customizes nicotine replacement therapy dosage based on smoker’s sleep-wake cycle, meals and craving patterns. This new technology fills an unmet need in personalizing smoking cessation and ensuring compliance with therapy.
Key features include:
•Synchronization with cravings and delivery of the right amount of nicotine when smokers need it;
•Seamless connection via Bluetooth technology to all mobile devices;
•Automated optimal delivery, and
•Digital behavior support.
"The limitations of current nicotine replacement technology for smoking cessation are solved and overcome by the new CHRONO technology,” stated Karl Fagerstorm, Ph.D.
Appointment of Alan Levy as CEO Strengthens Leadership Team
Alan Levy was recently appointed CEO of Chrono Therapeutics. Alan joins Chrono from Incline Therapeutics and brings a stellar track record of success in leading multiple companies from development to successful commercialization.
His prior positions include, Chief Executive Officer of Incline Therapeutics and Chairman of the Board of Directors and CEO of Northstar Neuroscience, Inc., a company he co-founded. Levy also served as President and Chief Executive Officer of Heartstream, Inc. and President of Heart Technology. Levy has a strong background in product development and commercialization from his tenure as a senior executive at Ethicon, a division of Johnson & Johnson.
“Dr. Levy brings a tremendous amount of experience successfully commercializing life-saving medical technologies,” stated Guy DiPierro, Founder and President of Chrono Therapeutics. “His passion, business acumen and leadership will be a huge asset to us.”
Chrono Therapeutics (CHRONO) was founded in 2004 with a vision of transforming disease and addiction management in wearable, patient optimized drug delivery. With real-time wireless connectivity and tailored behavioral support, Chrono’s science of specifically tailoring the timing and dose sizes of drugs, preempts predictable peak disease and addiction symptoms with an easy-to-use device. In partnership with the University of Basel, Switzerland and three affiliate Universities, CHRONO has built a pipeline of pharmaceutical applications. The fruition of these efforts will see a wide-spread impact to better manage common conditions and diseases with next generation “Smart” drug products.
Contact: Guy DiPierro