Endomimetics™ Awarded $2.8 Million Phase II SBIR Grant To Develop And Evaluate The Potential Of Bionanomatrix™ To Improve Performance And Patient Outcomes In The Treatment Of Brain Aneurysms

(MENAFN- GlobeNewsWire - Nasdaq) Funding will support research evaluating application of Bionanomatrix to flow diverters to accelerate healing after implantation

BIRMINGHAM, Ala., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Endomimetics, the developer of BionanomatrixTM, a peptide-based biomaterial to promote healing and improve outcomes following medical device implantation and other procedures, today announced the awarding of a $2.8 million Phase II Small Business Innovation Research (SBIR) grant to support research to evaluate the potential of BionanomatrixTM to improve performance of flow diverters used in the treatment of brain aneurysms. This application of BionanomatrixTM is one of several in development that provide further evidence of the broad utility of BionanomatrixTM to improve performance and patient outcomes of implantable medical devices.

The Phase II SBIR grant provides funding to support research for (1) manufacturing process scale up and optimization including long term stability of the BionanomatrixTM coating and packaging validation and (2) assessment of two- and six-month efficacy and safety of the BionanomatrixTM coating in a rabbit aneurysm model. Under the grant, Endomimetics will collaborate with Ramanathan Kadirvel, Ph.D., and David Kallmes, M.D., both professors of Radiology at the Mayo Clinic, Rochester, Minnesota, to evaluate the BionanomatrixTM coating for flow diverters in the brain.

“Brain aneurysms carry the devastating risk of rupture, leading to death or permanent disability,” said Joseph Garner, Ph.D., Chief Executive Officer of Endomimetics.“Flow diverters, commonly used to treat aneurysms, maintain a risk of thromboembolic complications until endothelialization and aneurysm closure has occurred. Use of anti-clotting medications to reduce the risk of clot formation place patients at increased risk of bleeding during the several months required to achieve endothelial healing. Application of the BionanomatrixTM coating to flow diverters could accelerate endothelialization and reduce the risk of embolic stroke or brain hemorrhage and improve patient outcomes. If this research is successful, we plan to partner the technology with a flow diverter manufacturer and begin IND Enabling studies and clinical development.”

Approximately 3% of the population has unruptured cerebral aneurysms or approximately six million people in the U.S. About 30,000 aneurysms rupture each year, with devastating consequences. About 40% of patients with ruptured aneurysms die, and four of seven who survive have significant disabilities. To address this issue, several devices have been developed that can be implanted to prevent aneurysm rupture, such as flow diverters, which are increasingly being used to cover the neck of the aneurysm providing more durable occlusion. However, until endothelialization and aneurysm occlusion has occurred patients are at increased risk of thromboembolic complications and increased intracranial hemorrhage due to treatment with dual antiplatelet therapy.

The BionanomatrixTM coating mimics the characteristic properties of native endothelium. The addition of the Bionanomatrix TM to the flow diverter is anticipated to enhance endothelial coverage and accelerate aneurysm closure with the goal of reducing post treatment adverse events. The coating provides sustained release of nitric oxide, thus recruiting and retaining endothelial cells and reducing inflammation. It also incorporates an endothelial cell adhesive ligand that promotes endothelial cell retention and migration.

About Endomimetics:
Endomimetics is a privately held Company founded to develop applications for its proprietary BionanomatrixTM technology. The BionanomatrixTM, invented by bioengineering scientists and physicians at the University of Alabama Birmingham (UAB), is a peptide-based coating that can be engineered to perform a variety of functions, which may have broad application in medical device implantation and other surgical procedures. Endomimetics' plans to develop different applications through the preclinical stage and then partner with medical device companies whose technology could benefit from BionanomatrixTM. The Company's lead indication is the AVF GEL, which is designed to improve the maturation of arteriovenous fistulas. Other indications include coatings on stents and angioplasty balloons, dental direct pulp capping (DPC) and flow diverters. Additional information may be found on the Company's website .

About the Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program, created in 1982 through the Small Business Innovation Development Act and reauthorized in 2011, is one of the largest public–private partnerships in the United States. The SBIR program encourages U.S. small businesses with fewer than 500 employees to provide quality research and to develop new processes, products and technologies in support of the missions of the U.S. government. Administered by DHS S&T, the DHS SBIR Program, supports a full spectrum of SBIR initiatives serving all components.

Contact Details:
Company Contact:
Endomimetics
Dr. Joseph Garner
Chief Executive Officer
...

Investor Contacts:
Eric Ando / Cameron Radinovic
Burns McClellan
... / ...

Media Contacts:
Robert Flamm, Ph.D.
Burns McClellan
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