NORRISTOWN, Pa., Dec. 2, 2019 /PRNewswire-PRWeb/ -- NanoScan Imaging LLC ("NanoScan") announced today that the sale of its inventory of N1177 iodinated nanoparticulate contrast agent has been rescheduled to March 6, 2019. Chris Finn, Principal of the advisory firm Alternotio, who is managing the sealed bid process on behalf of NanoScan, explained that strong buyer interest had prompted the move.
"Prospective buyers are intrigued by N1177's potential to diagnose cancers and cardiovascular disease. They've asked for more time to perform due diligence," said Finn. He added, "In addition to the N1177 physical inventory, there's patent and other intellectual property assets that buyers have asked to evaluate."
ABOUT N1177. N1177 is a nanoparticulate x‐ray imaging agent consisting of surface modified, crystalline, insoluble particles with an iodine content that is 50% by weight. After intravenous administration, N1177 remains in vasculature for a significantly longer period of time than do water soluble iodinated x-ray contrast agents. N1177 is then taken up by macrophages of the mononuclear phagocyte system and eliminated primarily via the liver (minimal renal excretion).
"Given these properties of intravascular retention and macrophage uptake, N1177 holds great promise for cardiovascular applications," explained Mark Carvlin, PhD, CEO of NanoScan. "With N1177 it is possible to visualize multiple vascular beds for up to 15 minutes after a single injection (e.g., coronary arteries, aorta, carotid arteries and peripheral arteries). Even more exciting is the possibility of identifying and characterizing sites of vascular inflammation, in general, and vulnerable atherosclerotic plaques, in particular.
RENAL SAFETY: In addition to imaging efficacy, N1177 offers significant safety advantages over conventional CT and certain gadolinium-based contrast agents for MRI. Chief among them is lowered risk of renal toxicity. 96% of doctors surveyed said they are "likely" or "very likely" to switch from their current contrast agent to an agent with decreased potential for renal toxicity. In fact, renal toxicity was not observed in any preclinical or clinical studies conducted with N1177.
SALES PROCESS: As announced previously, NanoScan will be selling its inventory of N1177 iodinated nanoparticulate, plus various intellectual property and know-how assets, in a sealed bid sales process managed by Chris Finn, Principal of the advisory firm Alternotio. The sale will take place on March 6, 2020 at noon EST. Parties interested in purchasing any or all of the assets must sign a confidentiality agreement, which can be obtained by contacting Chris Finn at [email protected] or +1 (978) 882 - 2586. Negotiated offers are welcome, but any negotiated sale must be concluded prior to opening bids and must conform to the terms set forth for sealed bids.
ABOUT NANOSCAN IMAGING LLC. NanoScan was founded to acquire N1177 from prior corporate owners (including Kodak/Sterling-Winthrop and Nycomed-Amersham) and to continue its development.
ABOUT ALTERNATIO. Alternotio specializes in the sale of non-lead and distressed intellectual property. Alternotio occasionally works with unique tangible assets that have a substantial intellectual property component. Additional non confidential information on these assets can be found at: http://www.alternotio.com/cases
This release was prepared exclusively for the purpose of considering the transaction contemplated herein. This announcement is not an offer, solicitation, commitment or recommendation to buy or sell a security and does not purport to be a complete statement of all material facts. No representations are made as to the accuracy of such statements or projections.
SOURCE NanoScan Imaging LLC
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