We are extremely pleased to be partnering with ExThera AB at the Karolinska Institute in this joint venture
BERKELEY, Calif. & STOCKHOLM, Sweden (PRWEB) October 16, 2007
ExThera Medical's extracorporeal affinity therapy technology uses immobilized, biologically active carbohydrates to remove pathogenic microorganisms, proteins and cells directly from blood. The first clinical application of ExThera Medical's affinity therapy is expected to be the treatment of sepsis within intensive care units. In the U.S. over 750,000 patients per year acquire sepsis, and the mortality rate is approximately 33%. The annual cost of sepsis care is nearly $17 billion. In addition to sepsis, ExThera Medical's technology may also be useful in the treatment or prevention of a variety of other bloodborne diseases.
"We are extremely pleased to be partnering with ExThera AB at the Karolinska Institute in this joint venture," said Bob Ward, Chairman and CEO of Emergence LLC. "Professor Olle Larm and his team are well-known for their invention of highly effective methods for immobilizing the anticoagulant heparin on medical devices and implants. Their more recent work renders polymer surfaces capable of removing pathogens from blood. Emergence will provide development resources and expertise to ExThera Medical, which will be headquartered in Berkeley. For maximum market acceptance ExThera Medical's products will be designed to meet clear clinical needs while reducing the total cost of patient care."
"We believe that Emergence will be a perfect joint venture partner for ExThera Medical," added Olle Larm, Ph.D., CEO of ExThera AB. "Through its strong contractual relationship with The Polymer Technology Group, Emergence has access to a new generation of surface-modified biomaterials. Initially, PTG will contribute its trove of technical and human assets through Emergence to ExThera Medical, as the joint venture pursues development of its extracorporeal affinity therapy for sepsis."
Stockholm-based ExThera AB discovers and develops new and innovative pharmaceuticals and medical devices based on biologically active carbohydrates.
Emergence LLC (http://www.emergence-llc.com) is a life science incubator. The Polymer Technology Group (PTG) (http://www.polymertech.com) is a preeminent biomaterials company serving the medical device industry. Emergence LLC has substantial access to PTG's world-class staff and R&D/manufacturing facilities for polymer synthesis and processing, and for the regulatory approval and production of novel medical devices. Emergence LLC is currently conducting business in the Temescal Business Park of Berkeley, Calif.