Corporate Mission Statement
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
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
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.