Hopkinton, MA, September 22, 1998¾Creative BioMolecules, Inc. (Nasdaq: CBMI) and The Miami Project to Cure Paralysis have established a two year collaboration to conduct research into new treatments for brain trauma, spinal cord injury and stroke. The research collaboration will focus on the use of Creative BioMolecules proprietary morphogenic proteins as potential therapies to enhance recovery following injury or damage to the brain or spinal cord. The joint research program will also focus on defining the cellular mechanisms by which the Companys potential neurology therapies may work.
The Miami Project, a leading international research institution in the areas of spinal cord and brain injury, is affiliated with the University of Miami School of Medicine in Florida.
"OP-1 and related morphogenic proteins represent an exciting new technology that may provide potential new treatments to enhance functional recovery after brain injury," commented W. Dalton Dietrich, Ph.D., scientific director of The Miami Project. He continued, "The activities of this family of proteins suggest that they could offer a unique approach to promoting recovery following neurological trauma that differs from current therapies on the market and in development. Existing therapies attempt to limit the damage caused by central nervous system injury and require intervention within hours of the damages onset, whereas morphogenic protein therapy offers the potential of a much larger window of therapeutic opportunity."
Carl M. Cohen, Ph.D., Vice President for Research at Creative BioMolecules commented, "We are enthusiastic about expanding our relationship with the distinguished investigators at The Miami Project and see this collaboration as enhancing the future of our neuroscience program. We believe that this collaboration provides a unique opportunity for discovery by combining Creatives expertise at discovering, modifying, and producing novel proteins with cutting edge neurology research tools and expert teams at The Miami Project. One of the most exciting facets of this collaboration is that the scope of the research will extend from the study of how our proteins work at the molecular and cellular levels, to practical tests of potency in models of several human diseases."
Creative BioMolecules has proprietary rights to several proteins with demonstrated activity on cells of the nervous system. The partnership with The Miami Project complements ongoing work with researchers at the Massachusetts General Hospital to advance development of OP-1 to promote recovery following stroke. Creative BioMolecules is establishing a broad network of neurology collaborators to fully explore the potential of these novel neurotrophic factors.
This news release includes forward-looking statements that involve risks and uncertainties. Factors which could cause actual results to differ from the Companys expectations include, without limitation, the course of the research and development programs, including the preclinical demonstration of safety and efficacy, achievement of development and regulatory milestones by the Company and completion of clinical testing, the impact of competitive products, the timely receipt of regulatory clearances required for clinical testing, manufacturing and marketing of products and the other risks and uncertainties detailed from time to time in the Companys periodic reports.
Creative BioMolecules has established a substantial proprietary position in the field of morphogenic proteins, including OP-1. The Companys morphogenic protein programs include a late stage development effort in orthopaedic reconstruction with Stryker Corporation as well as ongoing research to develop renal disease treatment with Biogen, Inc., and proprietary new therapies for stroke and other neurological disorders.
For additional information on this news release, please contact the Company.