Company establishing robust financial, scientific and intellectual property foundation and expanding ophthalmic business into multiple clinical indications

WINSTON-SALEM, N.C., Oct. 25, 2018 (GLOBE NEWSWIRE) -- Precise Bio, a Regenerative Medicine company that is working on advancing the use of bio-printed tissues and organs to patients, announced today the launch of a dedicated ophthalmology business unit to support attainment of near-term opportunities in the ophthalmology arena as it builds a broad portfolio of programs in additional indications. The announcement is being made in conjunction with several events that the company is hosting with investors and clinical collaborators at the annual meeting of the American Academy of Ophthalmology (AAO), taking place October 27-30, 2018 in Chicago.

“There has been great excitement among physicians and commercial organizations about our disruptive technology to create eye-related tissues and its potential to transform the treatment of serious ophthalmic diseases and conditions,” said Aryeh Batt, co-founder and Chief Executive Officer of Precise Bio. “Based in part on the requests and suggestions from these key audiences, we are currently pursuing different ophthalmic programs, two of which are being undertaken with collaborators. As the first company to transplant a 3D-printed corneal graft in animals, we are uniquely positioned to advance the use of bio-printed tissues in ophthalmology. Establishing a business unit dedicated to realizing this potential will support our future financing strategies and ensure that our financial resources are aligned with the tremendous power of our technology and intellectual property in a market with an estimated cumulative value of $10 billion.”

Precise Bio has developed an innovative 4D-bio-fabrication technology that is a true platform for innovation and comprises cell expansion, bio-materials, processes, printing technology and other required critical technologies. Key advantages of this platform compared with other bio-fabrication approaches are that it is able to generate complex tissues in a highly reproducible manner and to apply lessons learned from the fabrication of one tissue to the next. This allows for rapid innovation and product development, and provides a foundation on which to build a robust pipeline of proprietary products with substantial clinical and commercial value. This platform can solve critical limitations of existing 3D bio-fabrication technologies and is paving the way for the engineering of more complex tissues and organs.  

Precise Bio is the first company to transplant a 3D-printed cornea graft in animals. Results of the initial study support the feasibility, safety and efficacy of Precise Bio’s novel technologies and establish a foundation for future development and progress toward human trials. The company’s robust technology platform allows it to advance its printed human cornea program concurrent with the development of other organs and tissues for use in ophthalmic indications. This comprises a broad array of possibilities including retinal patch, vision correction lenticules, solutions for ocular surface diseases and others.

“Precise Bio’s technology has the potential to truly transform the treatment of serious diseases, and to address the unmet needs in corneal replacement and other indications, which cannot be met by the limited number of donor tissues and organs,” said Shay Soker, PhD, Professor at the Wake Forest Institute of Regenerative Medicine (WFIRM) and a co-founder of Precise Bio. “The company’s technology overcomes multiple challenges in scalable, reproducible manufacturing of bio-printed tissues and organs, and positions Precise Bio for leadership in the field of regenerative medicine.”

About Precise Bio
Precise Bio is a regenerative medicine company developing and commercializing break-through, proprietary regenerative medicine technologies and cellular therapies that can transform patient care across a wide range of medical indications. The company’s proprietary 4D bio-printing platform overcomes limitations of existing extrusion and Ink-jet printers and paves the way for printing of clinically viable tissues and organs.

The company was founded by Dr. Anthony Atala, director of the Wake Forest Institute of Regenerative Medicine (WFIRM), Prof. Shay Soker from WFIRM and Mr. Aryeh Batt, who developed the company’s transformative and proprietary laser printing technology, and serves as the company’s CEO. The company has established collaborations with world-class partners who bring demonstrated expertise in complementary technologies that can be leveraged on Precise Bio’s platform in order to reproducibly manufacture functional tissues. 

Contacts

Corporate Contact – Precise Bio
Aryeh Batt, CEO
336-671-5571
Aryeh.batt@precise-bio.com

Media Contact – Lazar Partners
Erich Sandoval
917-497-2867
esandoval@lazarpartners.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2fa6fc14-f300-4b03-9d2a-08dd77de42dd