Patient enrollment in Phase II study of BioCart Autologous Cartilage System nearing halfway point

Mar 5 2010

ProChon Biotech, Ltd., an innovator of tissue regenerative technologies that are being developed to relieve pain and restore the mobility and quality-of-life for sufferers of articular cartilage injuries, today announced that patient enrollment in the Company’s Phase II study of the BioCart^™ Autologous Cartilage System is nearing the halfway point and is expected to be completed within the next three months. The randomized, double-arm, open-label, multicenter Phase II study compares the safety and efficacy of the BioCart™ System to microfracture for the treatment of symptomatic cartilage defects.

The Company also announced today that it will provide educational information on the BioCart™ System to attendees at the Annual Meeting of the American Academy of Orthopaedic Surgeons, scheduled to take place March 10-12 at the Morial Convention Center in New Orleans. ProChon will be exhibiting at booth #341.

“We look forward to exhibiting at such a prestigious gathering of orthopaedic surgeons, nurses and global orthopaedic corporations. Until recently, very few surgeons have been aware of our next generation cartilage regeneration technology, the BioCart™ System. The AAOS conference is an ideal venue at an ideal time for ProChon to raise the level of awareness,” said Patrick O’Donnell, chief executive officer of ProChon. “The BioCart™ System has the potential to advance cartilage regeneration and in doing so, change the paradigm in the rehabilitation protocol associated with cartilage injuries. We expect that the ongoing clinical research of the BioCart™ System will demonstrate a strong correlation between the quality of cartilage regeneration and successful long-term clinical outcomes.”

ProChon continues to execute on its business plan of advancing the clinical progress of the BioCart™ System and developing collaborative agreements for the Company’s novel Fibroblast Growth Factor (FGF) platform technology. Most recently, the Company entered into a research collaboration with an established West Coast-based company that specializes in orthopaedic repair/regeneration applications. The objective of the development program is to define new solutions to critical orthopaedic issues for patients, such as the development of an injectable ceramic/polymer formulation to carry growth factors for the purpose of bone repair/regeneration applications.