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ApoImmune Chosen for Participation in National Institutes of Health SBIR Commercialization Assistance Program (CAP)
October 15, 2008 (Louisville, KY) - ApoImmune, Inc. today announced that it has been selected for the NIH Small Business Innovation Research (SBIR) Commercialization Assistance Program (CAP) designed to help some of the nation's most promising small life science and healthcare companies develop their commercial businesses and transition their SBIR-funded technologies into the marketplace.
Through a contract with the Larta Institute, a professional services firm in Los Angeles, CA, the CAP provides participants with individualized assistance toward accomplishing their commercialization goals. The CAP involves a wide range of breakthrough biomedical and health care technologies, including the development of clinical technologies, basic research tools, and healthcare/IT type products.
"Seventy-five companies are competitively chosen to participate in the CAP from across the U.S. and we are honored to be chosen to participate in it," said Steven T. Downey, President and CEO of ApoImmune, Inc. "We believe that we have a strong, exciting vaccine platform technology that can be commercialized for several diseases with commercial potential in the billions of dollars. Being chosen for this prominent program demonstrates that the NIH recognizes the innovative nature of our technology and its strong commercial potential. We are looking forward to working with Larta and hope to accelerate the transition of our technology into the marketplace."
About ApoImmune, Inc.
ApoImmune Inc. is a Louisville, Kentucky-based biotechnology company developing novel immunotherapies, which are treatments based on the concept of regulating the immune system to fight disease. The Company's lead immunotherapy is based on the ProtEx technology's ability to teach the immune system to recognize foreign pathogens as harmful and specifically target those harmful cells for destruction. ApoImmune is also developing ProtEx to suppress the immune system in certain cases, which improves current organ and tissue transplant therapies by protecting the transplant from being attacked by the recipient's immune system when transplanted into the body. An added benefit of the ProtEx immune system suppression technology is that it also reduces the need for powerful immunosuppressive drugs with highly toxic effects that are required after transplantation.
For more information, visit www.apoimmune.com.
Certain statements made throughout this press release that are not historical facts contain forward-looking statements regarding the Company's future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements.
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