ROCKVILLE, Md., July 28, 2008 (PRIME NEWSWIRE) -- Cytomedix, Inc. (AMEX:GTF) today announced that David F. Counts Ph.D., a leading pharmacologist and medical researcher who discovered the Company's anti-inflammatory peptide, CT-112, has been retained as a consultant to assist the Company with the further development of the peptide, as the Company prepares to file an Investigational New Drug (IND) submission with the FDA and move into a Phase I Clinical trial. Dr. Counts discovered the anti-inflammatory properties of the CT-112 peptide in the mid 90s during his research of platelet derived growth factors, which contributed to the development of the Company's AutoloGel(tm) System. Dr. Counts will be working with Dr. Peter Clausen, a leading biochemist, who was also recently retained by the Company to oversee the CT-112 development effort.
Pre-clinical animal studies led by Dr. Counts indicated the CT-112 peptide may be active for the treatment of inflammatory diseases such as Rheumatoid Arthritis, Crohn's Disease, Tissue Reperfusion Injury and other related medical conditions. The studies further indicated that CT-112 may be administered orally, unlike other anti-inflammatory drugs currently on the market which are administered via injection or infusion.
"I remain dedicated to the advancement of the CT-112 peptide as a potential breakthrough drug that could benefit patients suffering from inflammatory diseases without causing the serious side effects that have plagued other therapies. Advancements in peptide manufacturing and a greater understanding of the technology have now made it feasible to move ahead with the development of CT-112. Based on the pre-clinical data which has been gathered to date, I believe the Company is well-positioned to prepare an IND application, and I am looking forward to working with Dr. Clausen on this important project," said Dr. Counts.
"Dr. Counts' expertise as the developer of the CT-112 peptide and his commitment to seeing it brought to fruition, will be invaluable as we prepare to take it through the regulatory process,'" stated Martin Rosendale, Chief Executive Officer of Cytomedix. "This represents an exciting new stage for the Company and we are pleased to have Dr. Counts and Dr. Clausen as a part of our team in the further development of CT-112."
Dr. Counts is a renowned pharmacologist with more than 30 years experience in academia, industry and economic development organizations. Dr. Counts is currently a Director (Life Sciences) for Angle Technology Ventures, a Philadelphia-based international consulting, management and venture creation company. He is also an Adjunct Clinical Assistant Professor in the Department of Dermatological Surgery at the State University of New York at Stony Brook Medical School. Previously, he was the co-founder of Avogen, a Los Angeles-based specialty chemicals company that markets exclusive cosmetic materials.
Prior to Avogen, Dr. Counts was a Director of Preclinical Research at Curative Technologies, Inc., where he managed more than 25 research contracts with universities, contract research organizations and individual consultants. It was during his tenure at Curative Technologies where Dr. Counts discovered the anti-inflammatory properties of the CT-112 peptide while conducting research of platelet derived growth factors. Dr. Counts also held senior positions with Marion Merrell Dow Inc., a Kansas City, Mo. based pharmaceutical company, Eli Lilly and Company, where he was a senior biochemist, and was a Research Associate at Gillette Research Institute. During the early 1980s, Dr. Counts was also a Research Assistant Professor in the Biochemistry department of the University of Vermont's School of Medicine. He holds a Bachelor of Science degree in Chemistry from Tulane University and a Ph.D. in Cell and Molecular Biology from the Medical College of Georgia.
Dr. Clausen is a seasoned biochemist with nearly 15 years experience in the biotechnology industry. Dr. Clausen was a founding member, Vice President of Research and Development, and inventor of core intellectual property at Marligen Biosciences, an Ijamsville, Md.-based company that develops, manufactures and markets innovative products for the life sciences market. Prior to Marligen Biosciences, he was the Manager of New Purification Technologies developing novel DNA and protein purification technologies for commercialization at Invitrogen Corporation, a Rockville, MD-based biotechnology company that provides essential life science technologies for disease research, drug discovery, and commercial bioproduction. Dr. Clausen also worked to develop small molecule and peptide therapeutics as a Scientist at Pro-Neuron Inc., a Maryland-based Biotechnology company focused in therapeutic areas including Oncology, Neurology, Dermatology, and Metabolic Disease. Dr. Clausen held a fellowship in the Laboratory of Molecular Oncology at the National Cancer Institute where he contributed research in the areas of oncology, hematopoiesis and gene therapy. He holds a Bachelor of Science degree in Biochemistry from Beloit College and a Ph.D. in Biochemistry from Rush University where his research focused on inflammation and the pathogenesis of inflammatory arthritides.
ABOUT CYTOMEDIX
Cytomedix, Inc. is a biotechnology company specializing in processes and products derived from platelet releasates for use on wounds and other applications. The current offering is the AutoloGel(tm) System, a process that utilizes an autologous platelet gel composed of multiple growth factors, other platelet releasates, and fibrin matrix. Additional information regarding Cytomedix is available at: http://www.cytomedix.com.
SAFE HARBOR STATEMENT
Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995. The information contained in the forward-looking statements is inherently uncertain, and Cytomedix's actual results may differ materially due to a number of factors, many of which are beyond Cytomedix's ability to predict or control, including among others, the outcome of development or regulatory review of CT-112, commercial success or acceptance by the medical community, and competitive responses. CT-112 was introduced as a therapeutic candidate with an FDA Pre-IND meeting in 1995. It is uncertain whether the company will obtain the funds necessary for development, or whether current market conditions will support a renewed effort to develop CT-112. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the reports filed with the Securities and Exchange Commission by Cytomedix, Inc. Except as is expressly required by the federal securities laws, Cytomedix undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.