BUENA, N.J.--(BUSINESS WIRE)--Aug. 2, 2004--IGI, INC. (AMEX:IG - News) announced today that they have signed an exclusive license agreement with the University of Massachusetts Medical School (UMMS) for the patented invention entitled "The Treatment of Skin with Adenosine or Adenosine Analogs", invented by James Dobson, PhD and Michael Ethier, PhD faculty members at UMMS, Patent No: 6,645,513 B2 Nov 11 2003.
IGI intends to encapsulate adenosine or adenosine analogs in IGI's patented Novasome® nanosphere transdermal delivery technology for use in the skin care field.
Adenosine stimulates DNA synthesis, increases protein synthesis, and increases cell size. The invention also provides a method for promoting healing of non-diseased skin. The enhancement of skin will decrease the amount of wrinkling, roughness, dryness, laxity, sallowness, or pigmentary mottling in skin.
Adenosine advantageously allows for the enhancement of the skin condition. This results in skin that shows a less wrinkled, rough, or dry complexion. For example, it provides for enhancing the condition of skin damage due to exposure to the sun or skin whose condition has deteriorated due to normal aging.
Adenosine is a well-known molecule that is active in many cellular functions. The discovery of adenosine's beneficial impact on skin was a serendipitous outgrowth of Dr. Dobson's and Dr. Ethier's basic science research into the cellular mechanisms of heart function and aging. While working with human cells, Dobson and Ethier noticed an unanticipated beneficial effect of adenosine on cells of the dermis.
"IGI is pleased to add adenosine to its growing portfolio which includes PTH (1-34) for the treatment of psoriasis and PTH (7-34) for alopecia. We intend to create a new product for the treatment of skin conditions," stated Frank Gerardi the Company's Chairman and CEO.
The University of Massachusetts Medical School, one of the fastest growing medical schools in the country, has built a reputation as a world-class research institution, consistently producing noteworthy advances in clinical and basic research. UMass Medical School and its clinical partner, UMass Memorial Health Care, attract more than $154 million in research funding annually, 80 percent of which comes from federal funding sources. Research funding enables the researchers to explore human disease from the molecular level to large-scale clinical trials.
IGI is applying its patented Novasome® microencapsulation technologies to deliver pharmaceuticals, dermaceuticals, cosmetics, skin care, nutrients and other industrial products. Novasomes® drive large molecules deep into the skin in a moisturizing non-irritating delayed release cream.
The statements in this release by Frank Gerardi are forward-looking statements that are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: changes in demand for the Company's products, product mix, the timing of customer orders or deliveries, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity and other risks discussed from time to time in the Company's SEC filings. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the release.
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