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OFFICIAL
RELEASE
Ash Access Technology, Inc. Awarded
a $2 Million Grant from the Indiana 21st Century Research and
Technology Fund
Fund Director Cites Company's Cutting Edge Biomedical
Therapy and the Experienced Team as Key Criteria for Selection
Wednesday, July 5, 2006 8:47 AM EST - - -
(Lafayette, Indiana) - Ash Access Technology, Inc., a
privately-held biomedical and medical device firm, announced today
that it has been awarded a two million dollar grant from the Indiana
21st Century Research and Technology Fund. The funds are earmarked
to support the Phase III clinical trial of the company's novel
antimicrobial/antithrombotic therapy, designed to combat deadly
catheter-related bloodstream infections (CRBSI). The clinical trial
is a randomized, multi-center trial being conducted in conjunction
with DaVita Clinical Research in patients undergoing hemodialysis
with long-term catheters, which are a major source of CRBSI.
According to Mr. Bruce Kidd, Director, Small Business
and Entrepreneurship with the Indiana
Economic Development Corporation, "Of all the criteria we
look at when determining a worthy company for this Fund, we recognize
Ash Access as an "A" type of company that is truly cutting
edge and that hits high for all our markers. The Company was a natural
standout.
"One of the first markers we look for in a fund
applicant, is if its product can solve "pain" in the marketplace," continued
Mr. Kidd, "and Ash Access' new therapy fills that criteria,
quite literally, by addressing the growing problem of antibiotic-resistant
bloodstream infections in hospitals across America and around the
world. That product, by our criteria, has to be close to going to
market, to be considered, and with the company just entering the
final clinical trial, we concluded that Ash Access could benefit
from funds to help them reach commercialization.
"Another marker we weight heavily is the quality
of the team," said Kidd. "Once again, Ash Access has a
highly experienced team in Dr Stephen Ash and Bob Truitt, with a
significant history of success in commercializing biomedical devices
and products. We also look at validation the company has received
outside of State funds, and found the company strong, once again.
Ash Access Technology has received significant support from the U.S.
federal government (in the form of a multi-million dollar SBIR grant
to conduct this trial), as well as substantial validation from knowledgeable
investors, such as a private fund managed by Bear Stearns and angel
investors in Indiana and around the Midwest. Ash Access Technology
is truly indicative of the kind of companies in which we are trying
to invest with the 21st Century Fund."
The news was significant to the executives of Ash
Access Technology. According to Mr. Bob Truitt, CEO of Ash Access
Technology, Inc., "We are humbled to have been recognized in
such a substantial way by people so in touch with other dynamic businesses
around the State of Indiana. We hope we can continue to add jobs
and fuel economic growth in the State, as we have begun to do," said
Truitt. "We are also grateful to be able to use the grant to
help fund our pivotal clinical trial, and continue on our path towards
commercialization. We feel strongly that this therapy will meet a
significant unmet medical need by preventing and combating deadly
bloodstream infections, (without the drawbacks of antibiotics), and
ultimately save many lives."
The product entering the clinical
trial is an antimicrobial/antithrombotic formula, which has experienced
significant laboratory success in killing freely suspended organisms
(planktonic) and in preventing biofilm. Microbial biofilm develops
when microorganisms irreversibly adhere to catheter surfaces and
produce extracellular polymers that facilitate adhesion and provide
a structural matrix for growth. Biofilm-associated microorganisms
behave differently from planktonic (freely suspended) organisms,
with respect to growth rates and ability to resist antimicrobial
treatments such as antibiotics, and are known to play a major role
in CRBSI. When biofilm ruptures, microorganisms flow into the bloodstream
causing systemic infection that can lead to death.
Ash Access Technology, Inc. is a privately-held
company founded to develop antimicrobial and vascular access technologies,
devices and methodologies to combat the deadly and expensive problem
of catheter-related bloodstream infections, with an emphasis on
prevention. Dr. Stephen A. Ash, Chairman and Director, Research
and Development, is a practicing Nephrologist with the Arnett Clinic
in Lafayette, Indiana, and is a world-recognized researcher and
patent holder in extracorporeal devices, sorbent chemistry, and
vascular and peritoneal access devices. Ash Access Technology is
located in Lafayette, Indiana in the INOK Business Center.
This press release contains forward-looking statements,
which if not based on historical facts, involve risks and uncertainties.
Our actual results may differ materially from the results or events
stated in the forward-looking statements, including, but not limited
to, certain events not within the Company's control. |