Cytonics Awarded Phase II NIH SBIR Grant
Jupiter, FL, November 14, 2012:
Cytonics Corporation, a biotechnology company focused on proteomic-based diagnostics and treatments for musculoskeletal disease announced that the company has received a second award notice from the National Institute of Arthritis and Musculoskeletal and Skin Diseases of the National Institutes of Health (NIH) to study and commercialize Cytonics’ FACT assay, which is a Diagnostic Biomarker for Radicular Pain (Award Number 9R44AR060676-02). The total value of the grant awarded by the NIH was $1.6M over a two-year term. It will support ongoing research including a 100 patient study currently being conducted at Stanford University Medical School to be completed in 2013.
“We are pleased with the strong interest in Cytonics’ diagnostics and treatments for musculoskeletal disease,” said Ray Johnson, President of Cytonics. “These funds will support additional research and commercialization for our diagnostic products.
Cytonics’ FACT assay detects the presence of a Fibronectin-Aggrecan Complex in a fluid specimen taken from patients with spine or joint related pain. The presence of this complex has been shown in clinical studies to be associated with inflammation due to cartilage and spinal disc damage or degeneration.
Research supporting the use of the Fibronectin-Aggrecan Complex as a biomarker for pain is detailed in a number of peers reviewed journal articles, including the “Identification of a Novel Fibronectin-Aggrecan Complex in the Synovial Fluid of Knees with Painful Meniscal Injury” published in the Journal of Bone and Joint Surgery, Feb 2011, and “Clinically Significant Improvement in Functional Outcome after Lumbar Epidural Steroid Injection for Radiculopathy Is Predicted By Assay for Novel Fibronectin-Aggrecan Complex,” published in SPINE, August This study focused on the response of patients to Epidural Spine Injection (ESI).
About Cytonics Corporation
Cytonics is a privately held biotechnology company focused on proteomic-based diagnostics and treatments for the musculoskeletal disease. The company has developed the FACT diagnostic to identify the source of back and joint pain and assist physicians in determining the most appropriate treatment. Cytonics is also developing therapeutic products for the effective treatment of musculoskeletal related pain.
Cytonics has raised over $14 million to date, including the sale of a 20% ownership stake to DePuy Synthes, a division of Johnson & Johnson. The company has relationships with leading research institutions, including Stanford University and the Scripps Research Institute. Cytonics was founded in 2006 and is based in Jupiter, FL. For more information, visit Cytonics.com.
Susan Saunders – email@example.com