Buena, NJ – May 3, 2006 - IGI, Inc. (AMEX: IG) today announced that it has entered into a licensing agreement in February 2006 with Perio-Tech Inc. of Tarrytown, New York, for the exclusive rights to Perio-Tech’s topical therapeutic delivery system for the treatment and prevention of periodontal (gum) disease (“PD”).
Periodontal disease is the leading cause of tooth loss in adults and has been estimated to affect nearly 40% of the adult American population. Moreover, PD, and the variety of bacteria and viruses found in the infected gum pockets have been implicated as a possible causative factor in a wide variety of human illnesses including premature birth, coronary artery disease, atherosclerosis and others. Management of PD is often intrusive, painful and costly. It involves planing, scraping, gum surgery, and the injection of antibiotic powders into the gums.
The Perio-Tech treatment is convenient, painless and has been shown to be effective in management of PD.
The Perio-Tech system (United States Patent #’s 6,626,669 and 6,386,869) features dental trays which deliver antimicrobial compounds directly to the affected gums. In the pursuit of effective new treatments in oral healthcare, IGI, Inc. and Perio-Tech Inc. will collaborate on development initiatives to maximize the benefits of the Perio-Tech appliances with the patented Novasome® and Ultrasponge® delivery systems.
Dr. Peter J. Zegarelli, President of Perio-Tech, Inc. and inventor of the system, said:
Over the past century, new ingredients have been added to toothpastes, but the paste delivery system itself has not changed. The advantages of the Novasome® and its related technologies which can load and release active ingredients in toothpaste is expected to make old paste technologies obsolete.”
“Perio-Tech, Inc., in addition to developing formulations for the therapeutic tray, is also developing various therapeutic dentifrices, including an all natural product for every day use to treat gingivitis and periodontal disease. We are also working with IGI, Inc. to develop a topical treatment program for canker sores and other such viral infections that affect millions of people a year with painful mouth sores.”
IGI is a company committed to growth by applying proprietary technologies to achieve cost-effective solutions for varied customer needs. IGI offers the patented Novasome® lipid vesicle encapsulation technology which contributes value-added qualities to cosmetics, skin care products, dermatological formulations and other consumer products, providing improved dermal absorption, low potential for irritations, controlled and sustained release as well as improved stability. IGI has licensed Novasome® lipid vesicle encapsulation technology to leading global dermatological and skin care companies including Johnson & Johnson Consumer Products, Inc., Estee Lauder Companies, Chattem Inc., Genesis Pharmaceutical, Inc. and Apollo Pharmaceutical, Inc., and recently sub-licensed the rights to obtain FDA approval for and market IGI's PTH (1-34) compound using Novasome® lipid vesicle encapsulation technology for psoriasis, which is being reformulated for Phase II clinical trials, to Manhattan Pharmaceuticals, Inc. IGI is also exploring the licensing of the topical PTH (7-34) compound for the prevention/treatment of chemotherapy induced-alopecia in patients undergoing chemotherapy.
This report contains forward-looking statements relating to IGI's hopes and expectations for the future. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "will," "possible," "one time," "provides an opportunity," "continue" and similar expressions are intended to identify forward-looking statements. Such statements involve a number of risks and uncertainties and actual future events and results could differ materially from those indicated by such forward-looking statements due to general economic conditions, and the risk factors detailed in IGI's periodic reports and registration statements filed with the Securities and Exchange Commission.
Contact:
IGI, Inc.
Frank Gerardi, 856-697-1441 ext. 102
www.askigi.com