DALLAS, TX and NEW YORK, NY--(Marketwired - April 14, 2015) - PlasmaTech Biopharmaceuticals, Inc. (NASDAQ: PTBI), a biopharmaceutical company advancing protein biologic therapies and oncology supportive care products, announced today it had appointed Charlie Strange, M.D. to its Scientific Advisory Board (SAB). Dr. Strange is a highly regarded thought leader in the Alpha-1 community, and has extensive clinical experience in designing and managing Alpha-1 clinical studies. The Company believes his advice and counsel will help accelerate development and approval of its proprietary SDF Alpha™ biologic drug.
Dr. Strange commented, "This is an exciting time for PlasmaTech with its many promising commercial opportunities in the plasma space, specifically with its alpha-1 antitrypsin program. Use of plasma-derived proteins, both alpha-1 and IVIG, are expanding greatly, and the need to advance technologies that achieve higher alpha-1 yields will be critical in order to satisfy future demand. I am excited to join a team with such a strong technology position, and I look forward to being a part of their success."
"We are privileged and excited to have Dr. Strange join our SAB," stated Steve Rouhandeh, PlasmaTech's Executive Chairman. He continued, "Dr. Strange is a leader in the Alpha-1 community and has extensive experience with the plasma therapeutics industry. We look forward to working closely with Dr. Strange and the entire SAB in advancing our proprietary alpha-1 augmentation therapy, SDF Alpha, into the clinic and ultimately into the market place."
Charlie Strange, MD is a professor of pulmonary, critical care, allergy and sleep medicine at the Medical University of South Carolina (MUSC) in Charleston, SC. Dr. Strange directs the Alpha-1 Foundation Research Registry that participates in research studies in alpha-1 antitrypsin deficiency. He is an expert in small clinical trial design and rare diseases. Information on the Alpha-1 Foundation Research Registry can be found at http://alpha-1foundation.org/alpha-1-research-registry/.
About Plasma Proteins and the SDF™ Process: The global market for drugs derived from human blood plasma fractionation is currently greater than US$15 billion, and is growing at a rate close to 10% annually. Despite this significant market opportunity, limited innovation in fractionation technology has occurred in decades. PTBI has developed and patented a new extraction process for plasma biologics that may fundamentally change the economics of blood plasma fractionation, and makes possible the extraction of several additional therapeutically useful plasma proteins. The Company believes that PlasmaTech's proprietary fractionation process is expected to significantly enhance yields of specific high-value proteins, including alpha-1 antitrypsin, expanding market opportunities while greatly enhancing margins. The Company believes that PlasmaTech's lead product opportunity, alpha-1 antitrypsin ("AAT"), will offer a potentially high revenue, short time-to-market respiratory product for treatment of inherited COPD, or alpha-1 antitrypsin deficiency ("AATD"), among other indications. In addition, the SDF process is expected to produce higher yields of other high-value proteins with significant therapeutic benefit.
About PlasmaTech: PlasmaTech is a biopharmaceutical company focused on advancing protein biologic therapies and oncology supportive care products. Exploiting two proprietary platforms, Salt Diafiltration (SDF™) Process and Polymer Hydrogel Technology (PHT™), PlasmaTech is active in the development and commercialization of human plasma-derived therapeutics, including its proprietary alpha-1 protease inhibitor, SDF Alpha™. The Company has developed a robust product pipeline that includes two commercial stage products, MuGard® and ProctiGard™, with additional follow-on products in development. For more information, visit www.plasmatechbio.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include, without limitation, those relating to: the anticipated closing of, and the amount of the proceeds from, the private placement described in this press release, our cash burn rate, clinical trial plans and timelines and clinical results for MuGard and ProctiGard, the global market for drugs derived from human blood plasma and its growth rate, expectations relating to AAT, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited to PlasmaTech's need to obtain additional financing in order to continue the clinical trial and operations and to the risks detailed in PlasmaTech's Annual Reports on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise.