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| FOR IMMEDIATE RELEASE | CONTACT: Dr. Craig Liddell |
Amulet and GUMC Awarded SBIR |
ROCKVILLE, Md. (June 7, 2007) – Amulet Pharmaceuticals, Inc., a privately-held life science company, and Georgetown University Medical Center received a Phase I Small Business Innovation Research (SBIR) grant from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), one of the National Institutes of Health (NIH). The Phase I award, which will provide $367,554 for one year, will fund research that will explore the development of an innovative treatment for diabetic gastroparesis based on Amulet's proprietary nitric oxide releasing technology. Diabetic gastroparesis is a serious side effect of diabetes that compromises normal digestion and as such severely degrades the quality of life for diabetics. There are few effective treatments for gastroparesis on the market and none are without serious side effects of their own. Amulet's nitric oxide delivery technology, NORTECH™, has the potential to be an effective treatment for diabetic gastroparesis, with minimal side effects. NORTECH™ is uniquely able to safely release biologically active levels of nitric oxide for a sustained period at gastric pH (2.0), making it an ideal agent to provide nitric oxide to the stomach in a predictable and controllable manner. Amulet will use the SBIR funding to complete early-stage feasibility studies using NORETCH™ as a potential treatment for diabetic gastroparesis. “This award allows Amulet to begin development of a much needed safe and effective treatment for diabetic gastroparesis,” says Amulet CEO Craig Liddell. “We are excited to begin the long path to develop a new treatment that has the potential to enhance the health and well-being of a rapidly growing number of diabetics around the world that suffer from this disease.” Amulet, a five-year-old company, originated in the techcenter@UMBC incubator program. While still associated with the techcenter@UMBC through the Affiliate program, the company recently moved to Rockville 's biotech corridor. Amulet raised $1.7 Million seed capital from angel investors in 2006. About Amulet Pharmaceuticals, Inc.: Amulet was founded in 2001 by Robert Raulli, Ph.D., a leader in Nitric Oxide based therapeutics. During the first 3 years of operations, Amulet developed wholly owned novel nitric oxide delivery intellectual property (NORTECH™) and began licensing its NORTECH™ technology in 2004. This effort began with a sale of a NORTECH™ application to Noxilizer Inc. for the medical sterilization market. Amulet seeks to partner with medical device and pharmaceutical companies to apply NORTECH™ technology into the widest possible range of application areas. The Company plans to develop products in several important additional product areas such as cardiovascular device coatings, diabetes, pain, ophthalmology, wound and contact lens care. For more information about Amulet visit the website at www.amuletpharma.com. About NIH: The National Institutes of Health (NIH) — The Nation's Medical Research Agency — includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. It is the primary federal agency for conducting and supporting basic, clinical and translational medical research, and it investigates the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov. About GUMC: Georgetown University Medical Center Georgetown University Medical Center is an internationally recognized academic medical center with a three-part mission of research, teaching and patient care (through our partnership with MedStar Health). Our mission is carried out with a strong emphasis on public service and a dedication to the Catholic, Jesuit principle of cura personalis -- or "care of the whole person." The Medical Center includes the School of Medicine and the School of Nursing and Health Studies, both nationally ranked, the world-renowned Lombardi Comprehensive Cancer Center and the Biomedical Graduate Research Organization (BGRO). # # # |