DelSite's assests acquired by Nanotherapeutics

Nanotherapeutics, Inc.Oct 3 2009

Nanotherapeutics, Inc., a privately held specialty biopharmaceutical company, announced today that it had acquired certain assets from DelSite (formerly Carrington Laboratories, Inc.) out of Chapter 7 bankruptcy proceedings in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division.

Before the bankruptcy, DelSite was headquartered in Irving Texas, and had manufacturing facilities in Irving and Costa Rica and a research lab in College Station, Texas. The DelSite assets acquired include the patented, naturally derived, biocompatible, resorbable biopolymer GelSite®, the GelVac^TM nasal powder platform technology, lab equipment, intellectual property, and other related products. The GelSite® polymer has been tested in various vaccine formulations for administration by the nasal route and injection.

Nanotherapeutics also acquired the in-situ gelling nasal powder influenza vaccine Phase I clinical program based on the novel GelVac^TM powder formulation that incorporates the GelSite® polymer. GelSite® provides mucoadhesion and sustained antigen release within the nasal cavity for enhancement of the immune response. This vaccine possesses distinct potential advantages, including induction of both mucosal and systemic immunity, room temperature stability, prolonged shelf life, cold-chain-free distribution, and needle-free administration that can be particularly valuable in meeting the needs for pandemic preparation and stockpiling.

Dr. James Talton, President and CEO of Nanotherapeutics stated that the Company intended to reactivate the Phase 1 clinical program (“Double Blind, Randomized, Placebo Controlled Dose Escalation Study to Assess Safety and Immunogenicity of an Inactivated H5N1 Influenza Vaccine Administered in GelVac^TM Nasal Powder to Healthy Young Adults”) in the near future. Nanotherapeutics has retained Dr. Yawei Ni, former Chief Scientific Officer, to assist in the transfer of DelSite’s research and clinical programs to Nanotherapeutics.