Mainstay Medical Applies for CE Mark for ReActiv8®

A key step towards European commercialisation of innovative treatment of chronic low back pain

Dublin, Ireland – Mainstay Medical International plc (Mainstay or the Company, Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE), a medical device company focused on bringing to market ReActiv8®, an implantable neurostimulation system to treat disabling Chronic Low Back Pain, announces it has submitted an application for CE Mark for ReActiv8. The submission represents a further key step towards commercialisation of ReActiv8 in Europe.

Mainstay’s application for CE Mark includes the results of the ReActiv8-A Clinical Trial which showed clinically important, statistically significant, and lasting improvement in pain, disability, and quality of life for people with Chronic Low Back Pain and limited treatment options1.

Peter Crosby, CEO of Mainstay, said: “The application for CE Mark approval is a significant milestone for Mainstay and follows the successful results of our ReActiv8-A trial. With FDA approval to start the ReActiv8-B Clinical Trial to gather data for an application for US approval, we are moving towards our goal of commercialisation of ReActiv8 in major world markets. We believe ReActiv8 has the potential to change the lives of millions of people who have no effective treatment for their chronic low back pain and we are now a step closer to selling ReActiv8 in Europe.”

ReActiv8-A (http://clinicaltrials.gov/show/NCT01985230) is an international, multi-centre, prospective single arm clinical trial that recruited subjects who were not candidates indicated for surgery or spinal cord stimulation, and who had attempted other therapies, including at least physical therapy.

Data have been reported for the first 46 subjects in the ReActiv8-A trial. After 90 days of treatment with ReActiv8, 63% of people showed a clinically important improvement in their low back pain, 57% showed a clinically important improvement in their disability and 67% showed a clinically important improvement in their quality of life. Improvements in low back pain, disability and quality of life were generally consistent or improved at 180 days.

In addition to the clinical results, the application for CE Mark includes extensive information about the design, testing, manufacturing, and quality system for ReActiv8, and is the culmination of several years’ work.

Mainstay’s notified body will review the application for CE Mark, and Mainstay will respond to questions and/or requests for additional data during the review process.

Mainstay Medical plans to establish its own direct sales force for commercialisation of ReActiv8 in key European markets starting in 2016, subject to CE Mark approval.

- End -

 

CE Marking

CE Marking is a mandatory conformity marking for certain products sold within the European Economic Area since 1985, and is a declaration that the product meets the essential requirements of the applicable EC directives. For Active Implantable Medical Devices (AIMDs) like ReActiv8, CE Marking is granted by a Notified Body after review of the design dossier and other information for conformity to the AIMD Directive. Following CE Marking, a product can be sold in the EEA, and certain other countries.

 

About Mainstay

Mainstay is a medical device company which is developing an innovative implantable neurostimulation system, ReActiv8®, for people with disabling Chronic Low Back Pain (CLBP). The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States and Australia, and is listed on Euronext Paris (MSTY.PA) and the ESM of the Irish Stock Exchange (MSTY.IE).

 

About Chronic Low Back Pain

One of the recognised root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilise the spine in the lower back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.

People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition and the resulting days lost from work, disability benefits and health resource utilisation put a significant burden on individuals, families, communities, industry, and governments.

Further information can be found at www.mainstay-medical.com

ReActiv8 is an investigational device and is not approved for commercialisation anywhere in the world. CAUTION – in the United States, ReActiv8 is limited by federal law to investigational use only.

Neuravi Announces European Launch of Innovative Minimally Invasive Stroke Therapy

Galway, Ireland — Neuravi, a company dedicated to improving clinical outcomes for stroke patients, today announced commercial availability of the company’s EmboTrap® Revascularization Device for the treatment of acute ischemic stroke in Europe. The device will be marketed through the sales and distribution network the company has established in Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Sweden and Switzerland.

Following a stroke, rapid intervention is critical. Recent highly positive multinational clinical trials have demonstrated the benefit of acute endovascular intervention to remove the clot and rapidly restore blood flow to the brain. Physicians use minimally invasive thrombectomy devices, also known as ‘stent-retrievers’, to perform these life-saving procedures.1

The design of the EmboTrap thrombectomy device is informed by extensive research on the wide range of different clot types that cause ischemic stroke. With this foundation of research, the EmboTrap device is engineered to retrieve and retain the clot with a proprietary dual-layer stent-like structure while restoring blood flow to the brain. The device’s integrated distal protection zone is designed to reduce the risk of fragments of clot dislodging during retrieval, which could cause additional harm to the patient.

Ischemic strokes, caused by blockages in vessels supplying blood to the brain, account for 87% of all strokes and are a leading cause of death and disability.2 Approximately one million Europeans3 and 700,000 Americans suffer ischemic strokes each year.4

The EmboTrap has been used extensively to treat patients with large vessel ischemic stroke during clinical evaluation and in an initial phased launch in Europe. Professor Michael Söderman, Chief of Neuroangiography at Karolinska University Hospital in Sweden, shared his experience with the device during the European Society of Minimally Invasive Neurological Therapy (ESMINT) congress in Nice, France, last month.

“At Karolinska, we are using the EmboTrap to treat the majority of our stroke patients. It is our first choice for middle cerebral artery occlusions because it is highly deliverable, and we have found the device to be very effective in removing clots in just one to two passes. It is also quite flexible, which is important both for getting to the clot quickly and helps in being gentle on the cerebrovasculature during removal,” stated Prof. Söderman.

At the congress, Prof. Söderman presented data from a case series evaluating use of the EmboTrap device in 42 stroke patients at two European centers. In the series, treatment with the device restored significant blood flow in 86 percent of patients, with the majority of patients recovering to be able to function independently.5

“The EmboTrap device represents a new wave in innovation for stent retrievers based on clot research and a fuller understanding of the underlying challenge,” said Eamon Brady, Neuravi’s CEO. “We are excited to announce our launch and pleased that, following the compelling clinical data published earlier this year, use of thrombectomy devices for endovascular stroke therapy is on the rise, which should save and improve the lives of many patients.”

The company’s ARISE II clinical trial will begin enrolling patients this year at select centers in the United States and Europe. The trial will gather data to support the use of the EmboTrap and to seek FDA approval.

The EmboTrap Revascularization Device is not currently approved in the U.S., where it is available for investigational use only.

 

About Neuravi

Based in Galway, Ireland, Neuravi is dedicated to improving clinical outcomes for stroke patients. The company’s initial stroke therapy platform, the EmboTrap Revascularization Device, is CE marked and commercially available in Europe. The device is available for investigational use only in the United States. Through its investment in the Neuravi Thromboembolic Initiative (NTI), Neuravi supports collaboration between engineers, clinicians and researchers to deepen the understanding of clot and occlusion dynamics, in order to improve patient outcomes in stroke. Neuravi is led by a team experienced in endovascular device development and global commercialization. More information can be found at www.neuravi.com.

 

# # #

 

[1] Furlan AJ. Endovascular therapy for stroke—it’s about time [editorial]. N Engl J Med. 2015.

[2] Mozaffarian D, Benjamin EJ, Go AS, et al. Heart disease and stroke statistics—2015 update: a report from the American Heart Association. Circulation. 2015 ;e29-322.

[3] Truelsen T, Piechowski-Jozwiak B, Bonita R et al. Stroke incidence and prevalence in Europe: a review of available data. European Journal of Neurology, 2006, 13: 581–598.

[4] CDC, NCHS. Underlying Cause of Death 1999-2013 on CDC WONDER Online Database, released 2015.

[5] Söderman et al, ‘Initial Experience in 42 patients from 2 European Centers’, presented at ESOC 2015 and ESMINT 2015.

 

Nicole Osmer, +1 (650) 454-0504
nicole@nicoleosmer.com

Neuromod Announces €5.5 million in financing to Advance Neuromodulation based Medical Device to Treat Chronic Tinnitus

Leading Venture Capital Fund, Fountain Healthcare invests in Neuromod Devices

DUBLIN, Ireland – Neuromod Devices Limited (Neuromod), an Irish medical device company specialising in the treatment of chronic tinnitus, announces that it has raised €5.5 million ($6.2million) in Series A Funding from international life sciences venture capital fund Fountain Healthcare Partners. The investment will be used to further enhance scientific and clinical understanding of its bi-modal neuromodulation device, mutebutton®, and commence US clinical trials of the device. The international launch of mutebutton® is targeted for 2018.

This investment by Fountain Healthcare marks a significant milestone for Neuromod and brings the total raised by the company to-date to over €8 million ($9 million). As part of the Series A financing, Dr Manus Rogan of Fountain Healthcare Partners will join the Board of Directors of Neuromod.

 

mutebutton®

Neuromod’s non-invasive mutebutton® device uses bi-modal neuromodulation via simultaneous auditory stimulation in the ear and sensory stimulation on the tongue to promote positive changes in neuroplasticity in parts of the brain implicated in tinnitus. Recent developments in international tinnitus research have uncovered many forms of tinnitus and bi-modal neuromodulation is emerging as one of the most promising therapies for certain forms of the condition. Neuromod has already generated promising clinical data with the mutebutton® in over 50 people suffering from chronic tinnitus thereby validating its approach. Results from this study are soon to be published in a peer reviewed journal.

Neuromod will use the proceeds from the investment to advance dose optimisation and patient sub-typing research, commence US clinical trials and promote its international adoption as the next generation treatment for chronic tinnitus. Neuromod received a medical device CE mark in Europe in October 2014 for the mutebutton® device and was granted a US Patent for its technology in September 2015.

Earlier this year Neuromod was recognised as the ‘Emerging Company of the Year’ at the Irish Medical Device Association (IMDA) Awards, by its medical device industry peers.

 

Tinnitus

About 250 million people worldwide experience chronic tinnitus on a daily basis. The condition manifests itself as an illusory sound with no external source or origin. Despite being commonly described as ‘ringing in the ears’, international research has shown that chronic tinnitus actually originates in the brain. In the US alone, there are an estimated 15 million people with clinically significant tinnitus, with 2 to 3 million people experiencing debilitating symptoms. Chronic tinnitus can have a severe impact on a patient’s quality of life, with documented secondary symptoms including anxiety, insomnia, headaches and depression, resulting in repeat visits to GP’s, ENT surgeons and Clinical Audiologists.

There are currently limited clinically validated treatments available in the market place for treating chronic tinnitus. Neuromod’s objective is to address this significant unmet medical need with its mutebutton® device.

Dr Ross O’Neill, Founding CEO of Neuromod commented, “Neuromod is delighted to announce this investment, which will help us to advance our unique chronic tinnitus treatment technology. As an emerging company we welcome the support and knowledge offered to us from partnering with an experienced international life sciences venture capital fund such as Fountain Healthcare Partners. We are also particularly grateful for the ongoing support we have received from our manufactuing partners, M&M Qualtech and Molex, and from Enterprise Ireland, which enable innovative Irish companies, like Neuromod, to grow and succeed on the international stage.”

Dr Manus Rogan, Co-Founder and Managing Partner at Fountain Healthcare Partners added. "Neuromod is an exciting company, with the potential to offer a superior treatment to and improve the quality of life of the millions of patients suffering with chronic tinnitus. The company has a proprietary neuromodulation technology, promising clinical results and a highly committed team. Neuromodulation is a key area of interest for Fountain Healthcare and chronic tinnitus is a poorly served global market opportunity with relatively little competition. We are investing in Neuromod to help build a credible and sustainable business in tinnitus with prospects for strong future growth.” - ENDS –

 

About Neuromod

Neuromod, headquartered in NexusUCD Dublin, is an emerging medical device company, specialising in the design and development of neuromodulation technologies, to address the clinical needs of underserved patient populations who live with chronic and debilitating conditions such as tinnitus. The company was founded in 2010, by Dr. Ross O’Neill, as a spin-out from Maynooth University.

www.NeuromodDevices.com

 

About Fountain Healthcare Partners

Fountain Healthcare Partners is the largest dedicated life science venture capital fund in Ireland, with €176 million ($200 million) under management. Within the life science sector, specific areas of interest to Fountain include specialty pharma, medical devices, biotechnology and diagnostics. The firm deploys the majority of its capital in Europe, with the balance in the United States. Fountain’s main office is in Dublin, Ireland, with a second office in New York.

www.fh-partners.com

 

About mutebutton®

mutebutton® is a non-invasive, bi-modal neuromodulation based medical device that combines auditory and sensory stimulation to promote positive therapeutic changes in the parts of the brain implicated in tinnitus. The device simultaneously delivers sensory stimulation to the tongue via the tonguetip™ and auditory stimulation through headphones. The mutebutton® device was awarded European regulatory approval with a medical device CE mark in 2014, by the British Standards Institute (BSI), certifying the product's safety and clinical efficacy.

 

FTI Consulting | Media Relations
Jonathan Neilan
Melanie Farrell
Aoife Kelly
T: +353 1 6633686
neuromod@fticonsulting.com

Innocoll AG Announces First Patient Dosed in the XaraColl MATRIX-2 Phase 3 Study for the Treatment of Postoperative Pain

ATHLONE, Ireland - Innocoll AG (NASDAQ:INNL), a global, commercial-stage, specialty pharmaceutical company that develops, manufactures and supplies a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies, today announced that the first patient was dosed in the MATRIX-2 (Multisite Assessment of PosToperative PainReduction wIth XaraColl) Phase 3 study for the treatment of postoperative pain following open hernioplasty with mesh using XaraColl, Innocoll's surgically implantable and bioresorbable bupivacaine-collagen matrix.

The MATRIX-2 Phase 3 study is the second of two identical randomized, placebo-controlled, double-blinded studies to investigate the safety and efficacy of a surgically implantable and resorbable bupivacaine-collagen matrix. The MATRIX-1 study had its first patient enrolled last month. Each study is expected to enroll approximately 300 patients aged 18 and older in the United States. Patients with a unilateral inguinal hernia undergoing open hernioplasty with mesh placement will be treated in one of two arms per study: three 100 mg XaraColl matrices for a total dose of 300 mg of bupivacaine hydrochloride or three placebo matrices. The matrices are placed at the site of the hernia repair in order to provide local levels of bupivacaine directly at the location of surgical trauma.

The primary efficacy endpoint is the sum of pain intensity difference (SPID) over 24 hours comparing the XaraColl matrix to placebo. Additional endpoints include the SPID at 48 and 72 hours as well as total opioid use at 24, 48 and 72 hours. Safety will be evaluated through the collection of adverse events through 30 days postoperatively.

Enrollment for both studies is expected to complete in the first quarter of 2016 and topline results from the studies are expected in the second quarter of 2016.

Postoperative pain management is a serious concern for surgeons and patients. In the U.S., approximately 750,000 hernia operations are performed annually. Effective postoperative pain control is an essential component of the care of the surgical patient. Inadequate pain control, apart from being inhumane, may result in increased morbidity or mortality. While opioids are very effective analgesics, opioids also carry with them many undesirable potential side effects: sedation, respiratory depression, nausea and vomiting, hypotension and bradycardia, pruritus, and inhibition of bowel function.

XaraColl acts locally following implantation at the surgical site to provide sustained pain relief by delivering appropriate concentrations of bupivacaine directly at the site of surgical trauma for up to 72 hours. Bupivacaine is a long acting local anesthetic with a well-characterized safety and efficacy profile. The XaraColl collagen matrix helps deliver that local pain relief for up to 72 hours.

"We remain committed to delivering our late-stage portfolio and realizing the potential of these exciting therapeutics for the physicians and patients they serve," said Tony Zook, Chief Executive Officer. "With the dosing of the first patient in our MATRIX-2 study, we continue to execute on the deliverables we set for ourselves. Both the Cogenzia and XaraColl Phase 3 programs are fully underway and before the close of the year, we also hope to have discussions with the FDA to advance CollaGuard."

More information on the study will be posted at www.clinicaltrials.gov.

 

About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The Company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the company.

Innocoll AG Announces Departure of Chief Medical Officer

ATHLONE, Ireland -- Innocoll AG (NASDAQ:INNL) announced that James P. Tursi, M.D., will depart Innocoll to pursue another opportunity. Dr. Tursi will remain with Innocoll until September 21, 2015.

"James has done a great job advancing our lead assets into advanced clinical development during his tenure at Innocoll," said Tony Zook chief executive officer of Innocoll. "Phase 3 clinical trials for both Cogenzia and XaraColl are actively recruiting patients. The U.S clinical program plans for CollaGUARD are in place and we anticipate initiating interactions with the FDA to discuss them in the fourth quarter. Although we are disappointed by his leaving, we credit James with completing the key groundwork that is enabling us to focus on clinical trial execution for Cogenzia and XaraColl and moving toward discussions of our CollaGUARD clinical plan with regulators. We are in good position while we search for his successor. We wish James well in his next career role."

Dr. Tursi joined Innocoll in March 2015. His initial priorities upon assuming the position were to initiate the Phase 3 programs for Cogenzia and XaraColl and to finalize the U.S. clinical program plans for CollaGUARD. Both the Cogenzia and XaraColl Phase 3 programs began recruiting patients in 2015 as planned. Interactions with regulators on the CollaGUARD pivotal trial proposed program are on track to begin in the fourth quarter of 2015.

"I appreciate the challenge and opportunity to work with the team on advancing Innocoll's late stage clinical pipeline," said Dr. Tursi. "I leave Innocoll with the conviction that the company's key clinical programs will continue to progress as anticipated and that the team is fully prepared to execute on its objectives. I wish the Innocoll team the best as they bring needed medicines to patients."

 

About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the company.

Innocoll AG Announces First Patient Dosed in the XaraColl MATRIX-1 Phase 3 Study for the Treatment of Postoperative Pain

ATHLONE, Ireland, -- Innocoll AG (INNL), a global, commercial-stage, specialty pharmaceutical company that develops, manufactures and supplies a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies, today announced that the first patient was dosed in the MATRIX-1 (Multisite Assessment of PosToperative Pain Reduction wIth XaraColl) Phase 3 study for the treatment of postoperative pain following open hernioplasty with mesh using XaraColl, Innocoll's surgically implantable and bioresorbable bupivacaine-collagen matrix.

Postoperative pain management is a serious concern for surgeons and patients. According to Life Science Database, there are over 76 million surgeries performed annually in the US with approximately 1.4 million being hernia operations. Effective postoperative pain control is an essential component of the care of the surgical patient. Inadequate pain control, apart from being inhumane, may result in increased morbidity or mortality. While opioids are very effective analgesics, opioids also carry with them many undesirable potential side effects: sedation, respiratory depression, nausea and vomiting, hypotension and bradycardia, pruritus, and inhibition of bowel function.

XaraColl acts locally following implantation at the surgical site and is intended to provide sustained pain relief by delivering appropriate concentrations of bupivacaine directly at the site of surgical trauma for up to 72 hours. Bupivacaine is a long acting local anesthetic with a well-characterized safety and efficacy profile. The XaraColl collagen matrix helps deliver that local pain relief for up to 72 hours.

"Postoperative pain management is critical for a successful result of nearly any surgical procedure. When pain is adequately controlled, patients have a better experience." said Dr. James Tursi, Chief Medical Officer at Innocoll. "A better experience for the patient means a better experience for the surgeon. Importantly, the ability to limit or reduce exposure to opioids may enable patients to avoid opioid related side effects and potentially opioid related complications."

The MATRIX-1 Phase 3 study is one of two identical randomized, placebo-controlled, double-blinded studies to investigate the safety and efficacy of a surgically implantable and resorbable bupivacaine-collagen matrix. The second Phase 3 study, MATRIX-2 is expected to start later this quarter. Each study is expected to enroll approximately 300 patients age 18 and older in the United States. Patients with a unilateral inguinal hernia undergoing open hernioplasty with mesh placement will be treated in one of two arms per study: three 100 mg XaraColl matrices for a total dose of 300 mg of bupivacaine hydrochloride or three placebo matrices. The matrices are placed at the site of the hernia repair in order to provide local levels of bupivacaine directly at the location of surgical trauma.

The primary efficacy endpoint is the sum of pain intensity difference (SPID) over 24 hours comparing the XaraColl matrix to placebo. Additional endpoints include the SPID at 48 and 72 hours as well as total opioid use at 24, 48 and 72 hours. Safety will be evaluated through the collection of adverse events through 30 days postoperatively.

To qualify for the study, patients must have a planned (non-emergent) unilateral inguinal hernioplasty (open laparotomy, tension-free technique) to be performed according to standard surgical technique under general anesthesia. Following screening and determination of eligibility, study participants will be assigned to one of two groups. Patients will be treated with implantation of three 100 mg XaraColl matrices (total dose 300 mg) or three placebo matrices. Pain measurements will be recorded at predetermined intervals over the first 72 hours following implantation of the matrices. Enrollment is expected to complete in the first quarter of 2016 and topline results from the study are expected in the second quarter of 2016.

More information on the study will be posted at www.clinicaltrials.gov.

 

About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl(R) for the treatment of post-operative pain; Cogenzia(R) for the adjuvant treatment of diabetic foot infections; and CollaGUARD(R), a barrier for the prevention of post-surgical adhesions. The Company's approved products include: CollaGUARD(Ex-US), Collatamp(R) G, Septocoll(R), RegenePro(R), Collieva(R), CollaCare(R), Collexa(R), and Zorpreva(TM), which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx(R), Collatamp(R), CollaGUARD(R), Collieva(R), CollaCare(R), Collexa(R), Cogenzia(R) LidoColl(R), LiquiColl(R), Septocoll(R), and XaraColl(R) are registered trademarks, and CollaPress(TM), DermaSil(TM), Durieva(TM), and Zorpreva(TM) are trademarks of the company.

Neuravi Ltd. Appoints Experienced Neurovascular Executive Robert Stern to Board of Directors

25-Year Health Care and Startup Veteran Brings Wealth of Experience to Board

Galway, Ireland — Neuravi, a company dedicated to improving clinical outcomes for stroke patients, today announced that Robert A. Stern has joined the company’s board of directors.

Mr. Stern has more than 25 years of experience as a senior executive for medtech and biotech health care companies, including deep neurovascular experience. He is currently chief executive officer and president of Vascular Dynamics, Inc., a venture-backed company developing a novel implantable technology designed to manage resistant hypertension. Prior to Vascular Dynamics he held several senior executive roles in publicly traded companies, including president and chief operating officer at Micrus Endovascular Inc., a manufacturer of medical devices to treat cerebrovascular disease, which was acquired by Johnson & Johnson in 2010. He has also served as a director on the boards of Reverse Medical and Flexible Stenting Solutions.

“We’re thrilled that Bob has joined the Neuravi board at this important time in the company’s growth. His track record of value creation and direct neurovascular experience are key as we embark upon European commercialization of the EmboTrap® Revascularization Device and the initiation of ARISE II, our international clinical trial,” said Eamon Brady, CEO.

Mr. Stern’s organizational experience includes spearheading global licensing and distribution agreements, forging corporate alliances, improving profitability, and developing corporate infrastructure for companies in a variety of industries. In addition, he has played an instrumental role in initial public offerings and acquisitions.

“I’m very pleased to be working with a company that will truly make a difference in improving the lives of patients suffering from acute ischemic stroke,” said Mr. Stern. “With recent clinical data reinforcing the value of device intervention for stroke patients, this is an exciting time for companies developing thrombectomy solutions, and Neuravi’s talented team has made significant progress with its innovative stent-retriever. I look forward to helping navigate this rapidly growing field.”

Mr. Stern received a B.S. degree from the University of New Hampshire, Whittemore School of Business, and an MBA from the University of New Mexico, Anderson School of Management.

 

About the EmboTrap Revascularization Device

The design of the EmboTrap Revascularization Device is informed by extensive research into a full range of clots that cause ischemic stroke. With this foundation of research, the EmboTrap device is engineered to retrieve and retain the clot with a proprietary dual-layer stent-like structure while restoring blood flow to the brain. The device’s integrated distal protection zone is designed to reduce the risk of fragments of clot dislodging during retrieval, which could cause additional harm to the patient.

 

About Neuravi

Based in Galway, Ireland, Neuravi is dedicated to improving clinical outcomes for stroke patients. The company’s initial stroke therapy platform, the EmboTrap Revascularization Device, is CE marked, and commercially available in Europe, while it is for investigational use only in the United States. Through its investment in the Neuravi Thromboembolic Initiative (NTI), Neuravi supports collaboration between engineers, clinicians and researchers to deepen the understanding of clot and occlusion dynamics, in order to improve patient outcomes in stroke. Neuravi is led by a team experienced in endovascular device development and global commercialization. More information can be found at www.neuravi.com.

Positive Results for Mainstay Medical’s Clinical Trial of ReActiv8

Clinically important, statistically significant, and lasting improvement in pain, disability, and quality of life for people with Chronic Low Back Pain and limited treatment options

63% of people with clinically important improvement in back pain; and 72% with clinically important improvement in back pain in the cohort with no financial compensation related to back pain

Dublin, Ireland – Mainstay Medical International plc (Mainstay or the Company, listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE), a medical device company focused on bringing to market ReActiv8®, a new implantable neurostimulation system to treat disabling Chronic Low Back Pain (CLBP), today announced results from the ReActiv8-A Clinical Trial, an international, multi-centre, prospective, single arm trial to gather data for a submission for CE Marking for ReActiv8. The ReActiv8-A Trial shows clinically important, statistically significant and lasting improvement in pain, disability and quality of life in this clinically challenging population.

ReActiv8 is for treatment of people who suffer from CLBP, have attempted most or all available treatment options, and are not candidates for back surgery or spinal cord stimulation. The ReActiv8-A Trial population was relatively young (mean age 43.9 years) and had a long history of low back pain (mean 13.8 years). All of the subjects had attempted physical therapy, and 70% were taking opioids for back pain. The results presented are based on data from the first 47 subjects implanted in the ReActiv8-A Trial of whom 46 have reached the 90 day follow up and to date 33 have reached the 180 day follow up.

Results highlights:

  • Clinical performance of ReActiv8 at 90 days compared to baseline for all subjects is:
    • 63% with clinically important improvement in back pain defined as ≥2 point reduction on the 0-10 Numerical Rating Scale (NRS) for low back pain1 measured on the day.
    • 54% responder rate for pain: A responder is defined as a subject with a clinically important improvement in mean of prior 7 days NRS with no clinically significant increase in medications taken for low back pain.
    • 57% with a clinically important improvement1 in disability on the Oswestry Disability Index (ODI).
    • 67% with a clinically important improvement2 in quality of life on the EQ-5D scale.
  • Clinical performance at 90 days is even better for the group of subjects who do not receive financial compensation for being out of work due to their back pain. For those 32 subjects the results are:
    • 72% with clinically important improvement in low back pain NRS on the day.
    • 66% responder rate for pain.
    • 63% with clinically important improvement in ODI.
    • 69% with a clinically important improvement in EQ-5D (90% at 180 days).
  • Improvements in low back pain, disability and quality of life were generally consistent or improved at 180 days (n=33). Paired data for all subjects at 90 and 180 days respectively are:
    • 63% and 58% with clinically important improvement in low back pain NRS on the day.
    • 57% and 58% with clinically important improvement in ODI.
    • 67% and 79% with clinically important improvement in EQ-5D
    • 61% and 64% reported >50% Percent Pain Relief.

Adverse Events (AEs) incidence and type were comparable to AEs in clinical trials reported for other neurostimulation devices, with no unanticipated AEs and no serious AEs related to the device, therapy or procedure.

  • The observed lead migration incidence (<1%) demonstrates that the ReActiv8 lead mitigates the risk of lead migration identified with commercially available neurostimulation leads in the earlier Feasibility Trial.
  • The incidence of surgical revision (19%) to date is within the range published for other neurostimulation systems. Mainstay has identified a modification to the implant technique which it believes has the potential to reduce revision rates.

A full description of the ReActiv8-A Trial and results is provided below.

The Chairman of the ReActiv8-A Data Monitoring Committee is Professor Chris Gilligan, Chief of the Division of Pain Medicine and Co-Director of the Spine Center at the Beth Israel Deaconess Medical Center of the Harvard Medical School. Commenting on the positive results he said: “As physicians we struggle to provide solutions for people with chronic low back pain. The results from this clinical trial open the prospect of a new treatment option for clinicians and significant benefit for people suffering from chronic low back pain.”

Mainstay estimates that there are over two million people in the US and EU who could be candidates for treatment with ReActiv8. They are people with CLBP, in whom the root cause of the persistence of pain is disruption in control of the key muscles that stabilize the lumbar spine, particularly the lumbar multifidus. ReActiv8 is designed to deliver episodic electrical stimulation to nerves that cause these muscles to contract, helping to restore stability, and thus allowing recovery from CLBP.

ReActiv8 is not spinal cord stimulation. SCS targets different clinical conditions and delivers electrical stimulation to interfere with the perception of pain, without addressing the root cause. The market for SCS is estimated to be approximately $1.4Bn in 2015 or approximately 100,000 patients.

Dr. Marc Russo, Director of the Hunter Pain Clinic in Newcastle, Australia and investigator in the Trial said: “It was pleasing to see ReActiv8 have such an impact on people’s quality of life after so many other conventional treatments have been unsuccessful for such a long time.”

Peter Crosby, CEO of Mainstay, added: “The results from the ReActiv8-A Trial show improvements which are better than any other therapy for this group of people as reported in the literature. We are excited that our unique approach to treating this type of chronic low back pain offers the potential to change the lives of millions of people worldwide who have no effective treatment alternative.”

The Company believes that data from the subjects reported may be sufficient to apply for a CE Mark for ReActiv8, and is engaging with its notified body about the Company’s submission for CE Marking.

Subjects continue to be enrolled in the ReActiv8-A Trial to gather additional data on performance and safety which the Company plans to incorporate into the Post Market Clinical Follow Up.

Mainstay Medical Announces Half Year Financial Results

Dublin, Ireland: Mainstay Medical International plc (“Mainstay” or the “Company” listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE), a medical device company focused on bringing to market ReActiv8®, a new implantable neurostimulation system to treat disabling Chronic Low Back Pain (“CLBP”), today announced the publication of its report for the half year ended 30 June 2015.

Highlights

  • On 31 August 2015, the Company announced positive clinical results of the ReActiv8-A Clinical Trial, which the Company plans to use to support its submission for CE Mark approval, after which commercialization in Europe can commence. The detailed Clinical Results announcement is available on the Company’s website at http://www.mainstay-medical.com/news/press_releases.
  • On 24 August 2015, Mainstay announced the closing of debt financing for up to $15 million. The secured debt facility is non-dilutive to existing shareholders, and is being provided by IPF Partners, a leading financing provider focused on the European healthcare sector.  The facility can be drawn in three tranches, and an initial tranche of $4.5 million has been called. The second and third tranches can be drawn upon achievement of milestones related to progress through the CE Mark process for ReActiv8.
  • In July and August 2015, Mainstay announced the issuance of three new U.S. Patents:
    • U.S. Patent No. 9,072,897 entitled “Systems and Methods for Restoring Muscle Function to the Lumbar Spine”
    • U.S. Patent No. 9,079,019 entitled “Apparatus and Methods for Anchoring Electrode Leads for Use with Implantable Neuromuscular Electrical Stimulator”.
    • U.S. Patent No. 9,108,053 entitled “Apparatus and Methods for Rehabilitating a Muscle And Assessing Progress of Rehabilitation”
  • In May 2015, Mainstay announced it had received approval from the United States Food and Drug Administration (“FDA”) to begin a clinical trial of ReActiv8 under an Investigational Device Exemption (“IDE”). The FDA approval is for the planned ReActiv8-B Clinical Trial, an international, multi-centre, prospective randomized sham-controlled trial designed to evaluate the safety and efficacy of ReActiv8 for the treatment of adults with CLBP and no prior back surgery.  The approval is to conduct the ReActiv8-B Clinical Trial at up to 40 clinical trial sites and for 128 randomized subjects to be implanted with ReActiv8 in the pivotal cohort. The IDE approval allows the Company to engage with investigators, clinical trial sites, and Institutional Review Boards (“IRBs” or “Ethics Committees”) leading towards the first subject recruitment and implant. Upon successful completion of the ReActiv8-B Clinical Trial and if the results support it, the Company plans to submit an application for a Pre-Market Approval (“PMA”) which is required to allow the start of commercialization in the United States.
  • Operating expenses were $6.3 million during the period and have increased by $1.5 million compared to 1H14 due to costs associated with increased activity in the ReActiv8-A Clinical Trial, and the expansion of our team.
  • Cash on hand at 30 June 2015 was $12.5 million and operating cash out flows for the period were $5.7 million.

 

About Mainstay

Mainstay is a medical device company which is developing an innovative implantable neurostimulation system, ReActiv8®, for people with disabling Chronic Low Back Pain (CLBP). The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States and Australia, and is listed on Euronext Paris (MSTY.PA) and the ESM of the Irish Stock Exchange (MSTY.IE).

About the ReActiv8-A Trial

The ReActiv8-A Clinical Trial, is a prospective single arm clinical trial with up to 96 subjects at sites in Australia and Europe. Outcome measures for the ReActiv8-A Clinical Trial are assessed at a three month endpoint after activation of stimulation and compared to baseline prior to implant. Further details can be obtained at https://clinicaltrials.gov/show/NCT01985230.

About Chronic Low Back Pain

One of the recognised root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilise the spine in the lower back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.

People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition and the resulting days lost from work, disability benefits and health resource utilisation put a significant burden on individuals, families, communities, industry and governments.

Chrono Therapeutics Receives Second Fast Track SBIR Grant from National Cancer Institute for Patient-individualized Smoking Cessation Therapy

HAYWARD, Calif., Chrono Therapeutics, a pioneer in digital drug therapy, today announced it has received a second Phase 1 and Phase 2 Fast Track Small Business Innovation Research (SBIR) grant award from the National Cancer Institute (NCI). This award of up to $2.3 million will support final product development of the digital portion of Chrono's patient-individualized smoking cessation therapy as well as pilot efficacy trials of the system. This is the second Fast Track SBIR grant award Chrono has received from the NCI. Chrono successfully executed on a 2012 $2.23M grant that funded early product engineering and a second in human pharmacokinetic study.

Chrono's smoking cessation solution is the first nicotine delivery system to time medication delivery to when smokers' cravings are predictably strongest. The wearable component automatically begins delivering nicotine before smokers wake up, helping to curb the strong morning craving most smokers experience – something other nicotine replacement products cannot do. Embedded with sensors and Bluetooth, the wearable monitors compliance and securely connects with a companion mobile application that provides real-time behavioral coaching in response to cravings and the nicotine-dosing regimen.

"Receiving our second grant award from the NCI is an endorsement of Chrono's cessation platform, which takes a fresh approach to a serious addiction that kills 5 million people worldwide each year," commented Alan Levy, the CEO and Chairman of Chrono Therapeutics

Dr. Michael Burke and Dr. Taylor Hays of the Mayo Clinic are among several of the world's leaders in nicotine dependence treatment working with Chrono to integrate tailored nicotine delivery with evidence-based, proactive and personalized behavioral strategies to help smokers quit.

"Integrating a smart digital coach that leverages the best in behavioral science with a new and adjustable method to deliver nicotine replacement has the potential to save many thousands of lives by providing new hope and support to people struggling to become tobacco free. We are very excited to collaborate with Chrono on this innovation," stated Dr. Burke, Assistant Professor of Medicine at the Mayo Clinic School of Medicine and Program Coordinator at the Mayo Clinic Nicotine Dependence Center.

The smoking cessation solution is the first product targeted to be commercialized from Chrono's platform, which represents the convergence of optimized drug delivery, embedded sensor technology to monitor compliance, and connected and personalized behavioral support to transform how medicine is delivered and how people achieve their health goals.

Guy DiPierro, the Founder of Chrono and VP of Intellectual Property and Governmental Affairs commented, "We appreciate NCI's ongoing support and leadership in helping Chrono combat one of the world's leading pandemics."

 

About CHRONO

Effective care of the most hard-to-treat conditions requires approaches beyond simply taking medicine. Chrono's team is developing the first wearable transdermal drug delivery device that optimizes drug dosing, is embedded with sensor technology to track usage and is connected via Bluetooth to an evidence-based smartphone application that delivers real-time personalized behavioral support to keep users on track to achieving their goals. Chrono's first application is in smoking cessation, enabling smokers to overcome the world's deadliest addiction. For more information, visit www.chronothera.com

Mainstay Medical Secures $15M Debt Financing

Mainstay Medical International plc (“Mainstay” or the “Company” listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE), a medical device company focused on bringing to market ReActiv8®, an innovative implantable medical device for people suffering from disabling Chronic Low Back Pain (“CLBP”), today announced a debt facility for up to $15 million.

The secured debt facility is non-dilutive to existing shareholders, and is being provided by IPF Partners, a leading financing provider focused on the European healthcare sector.

“We are pleased to have secured this $15 million debt facility. These funds strengthen our financial position, and allow us to continue building momentum towards commercialisation of ReActiv8,” said Peter Crosby, CEO of Mainstay.

The facility can be drawn in three tranches, with an initial tranche of $4.5 million available immediately. The second and third tranches can be drawn following the achievement of milestones related to progress through the CE Mark process for ReActiv8.

Each tranche has a repayment term of 60 months from drawdown, with interest only payments for the first 12 months. The interest rate is 3-month Euribor plus a margin ranging from 10.5% to 12.5%.

The terms of the agreement include a requirement that the Company hold a minimum cash balance of $2 million until it achieves revenue targets, initially $1 million. The facility is subject to customary terms and conditions and includes an exit fee (in lieu of warrants) of 5% of each tranche payable upon repayment, and voluntary prepayment provisions. The facility does not include any preferential right to participate in a future financing of Mainstay.

- End -

 

About Mainstay

Mainstay is a medical device company which is developing an innovative implantable neurostimulation system, ReActiv8®, for people with disabling Chronic Low Back Pain (CLBP). The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States and Australia, and is listed on Euronext Paris (MSTY.PA) and the ESM of the Irish Stock Exchange (MSTY.IE).

 

About IPF Partners

IPF Partners is an investment platform founded by a team of 4 fund managers and health sector leaders. The IPF I fund, which was launched in October 2011 with 80 million euros of funding and which is aiming to obtain institutional investor commitments of 150 million euros, provides bespoke debt and other financing solutions to health sector companies that have reached the marketing stage in order to help them handle their ongoing and acquisition financing requirements. IPF I has already committed over 50 million euros to various European health product companies.

 

About the ReActiv8-A Trial

The ReActiv8-A clinical trial is a prospective single arm clinical trial with up to 96 subjects at sites in Australia and Europe. Outcome measures for the ReActiv8-A clinical trial are assessed at a three month endpoint after activation of stimulation and compared to baseline prior to implant. Further details can be obtained at https://clinicaltrials.gov/show/NCT01985230.

 

About Chronic Low Back Pain

One of the recognised root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilise the spine in the lower back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.

People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition and the resulting days lost from work, disability benefits and health resource utilisation put a significant burden on individuals, families, communities, industry, and governments.

Further information can be found at www.mainstay-medical.com

ReActiv8 is an investigational device and is not approved for commercialisation anywhere in the world.

CAUTION – in the United States, ReActiv8 is limited by federal law to investigational use only.

Innocoll AG Appoints Rich Fante as Chief Commercial Officer and Head of Business Development

ATHLONE, Ireland -- Innocoll AG (NASDAQ:INNL) announced that Rich Fante has been appointed Chief Commercial Officer and Head of Business Development effectiveAugust 20, 2015. The addition of this role to the senior management team is an additional step in the transition of the company to a commercial-stage, fully-integrated specialty pharmaceutical company.

"Our two lead product candidates, Cogenzia and XaraColl, are rapidly progressing in advanced clinical development so we need the additional skills and experience to finalize and execute on our commercial strategies for both products in the near-term," said Tony Zook, Chief Executive Officer of Innocoll. "The addition of Rich Fante to our executive team adds the critical skills and commercial experience we need to ensure commercial success. Cogenzia, currently in Phase 3 trials, recently received Qualified Infectious Disease Product (QIDP) designation from the FDA, which may lead to a priority review and accelerated time to market. We also anticipate initiating Phase 3 trials for XaraColl this quarter. Both sets of pivotal trials are expected to read out data in 2016. Rich's joining the team is timely."

Mr. Fante has deep experience in the management and execution of commercial product strategies in the pharmaceutical industry. Most recently, he was founder and president of RF Consulting, a firm that assists emerging biopharmaceutical companies in their commercialization efforts. Prior to founding RF Consulting, Mr. Fante spent over nineteen years at AstraZeneca pharmaceuticals in the United States, where he served a number of rolls, most recently as President of its U.S. business, CEO North America and Regional Vice President of the Americas. During his tenure at AstraZeneca, the company became the second largest pharmaceutical company in the U.S. He helped to build some of the most successful brands in pharmaceutical industry history including Nexium®, Crestor®, Symbicort®, Arimidex®, Seroquel® and Prilosec®. Before joining AstraZeneca in January 1995, Mr. Fante began his career in pharmaceutical sales and marketing as a sales representative followed by brand management at Lederle Laboratories. Mr. Fante has served as Board Chairman of the National Pharmaceutical Council and was a member of the Institute of Medicine of the National Academies of Science Roundtable on Value and Science. Mr. Fante is currently a non-executive director of the privately held biotech company Inhibikase Therapeutics, Inc. Mr. Fante received his B.A. in Biology from Princeton University and his M.B.A. from University of North Carolina at Chapel Hill.

"Innocoll's late stage product pipeline represents an ideal opportunity to begin to engage with the market," said Mr. Fante. "The promise of the company's products and the experience of the leadership team are a clear combination of factors for commercial success, and I'm pleased to be in the position to make a contribution to the company's transition."

 

About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the company.

First Amendment Decision a Win for Amarin and Physician Plaintiffs

Federal Court Rules Promotion of ANCHOR Clinical Data of Vascepa(R) and Research on the Potential Connection Between Vascepa and Cardiovascular Risk Reduction Is Constitutionally Protected Speech

BEDMINSTER, NJ and DUBLIN, IRELAND -- (Marketwired) -- 08/07/15 -- Amarin Corporation plc (NASDAQ: AMRN) today announced a United States District Court has ruled that Amarin may promote to healthcare professionals certain uses of Amarin's lead product, Vascepa®(icosapent ethyl) capsules, that are not covered by current FDA-approved labeling for the drug so long as the promotion is truthful and non-misleading. The Court declaration covers promotion of the FDA-reviewed and agreed effects of Vascepa demonstrated in the ANCHOR clinical trial of patients with persistently high triglycerides after statin therapy and use of peer-reviewed scientific publications that present the current state of scientific research related to the potential of Vascepa to reduce the risk of cardiovascular disease. Based on today's ruling Amarin plans to begin promotional activities consistent with the opinion as soon as possible.

 

Decision is a victory aimed at improved patient care

The decision opens more direct and effective paths to communicate truthful and non-misleading information about Vascepa clinical trial results and the state of science relevant to the potential of Vascepa to reduce the risk of cardiovascular disease. With accurate information readily available, healthcare professionals will be better able to assess for themselves how best to choose among available treatment options for their patients. With healthcare professionals better informed, this decision is a victory that Amarin believes will lead to improved patient care.

Cardiovascular disease is the leading cause of death for men and women in the United States. Significant risk from cardiovascular disease remains for tens of millions of Americans after statin therapy and recommended changes in diet and exercise. Given the significant need to reduce the risk of cardiovascular disease, numerous independent national and international treatment guidelines and position statements recommend drug therapy as an adjunct to healthy diet, lifestyle change and statin therapy for at-risk patients with persistently high triglyceride levels in their blood to lower those patients' triglycerides and/or non-high-density lipoprotein cholesterol. The use of Vascepa in this patient population, as studied in the ANCHOR trial, is contemplated by guidelines, is medically accepted and commonly prescribed by physicians. This is the practical reality despite the fact that FDA did not approve Vascepa for this use and even though a link between such treatment and reduced cardiovascular risk has not been determined. Use of Vascepa within these guidelines is also listed on independent drug compendia on which reimbursement from Medicare, Medicaid and private payor plans is based. Amarin's REDUCE-IT cardiovascular outcomes study of Vascepa, which is designed to evaluate the efficacy of Vascepa in reducing cardiovascular mortality and morbidity in a high-risk patient population on statin therapy, is over 95% enrolled.

"This lawsuit is based on the principle that better informed physicians will make better treatment decisions for their patients," said John F. Thero, President and Chief Executive Officer. "Many physicians are aware of the efficacy data included in FDA-approved labeling for Vascepa but are not aware of efficacy data from the ANCHOR study of Vascepa. FDA has already included the safety data from both the MARINE and ANCHOR studies in approved Vascepa labeling. Amarin will now be able to communicate efficacy data from ANCHOR and other relevant study results to these physicians and to others in the medical community in the context of appropriate disclaimers."

 

The truthful and non-misleading information about Vascepa protected by the Court order

The Court determined that Amarin may engage in truthful and non-misleading speech promoting the off-label use of Vascepa, i.e., to treat patients with persistently high triglycerides, and specifically make to healthcare professionals the following truthful and non-misleading statements:

Supportive but not conclusive research shows that consumption of EPA and DHA omega-3 fatty acids may reduce the risk of coronary heart disease. Vascepa should not be taken in place of a healthy diet and lifestyle or statin therapy.

Vascepa is not FDA-approved for the treatment of statin-treated patients with mixed dyslipidemia and high (≥ 200 mg/dL and < 500 mg/dL) triglyceride levels due to current uncertainty regarding the benefit, if any, of drug-induced changes in lipid/lipoprotein parameters beyond statin-lowered low-density lipoprotein cholesterol on cardiovascular risk among statin-treated patients with residually high triglycerides. No prospective study has been conducted to test and support what, if any, benefit exists.

Recent cardiovascular outcomes trials (ACCORD-Lipid, AIM-HIGH, and HPS2-THRIVE), while not designed to test the effect of lowering triglyceride levels in patients with high triglyceride levels after statin therapy, each failed to demonstrate incremental cardiovascular benefit of adding a second lipid-altering drug (fenofibrate or formulations of niacin), despite raising high-density lipoprotein cholesterol and reducing triglyceride levels, among statin-treated patients with well-controlled low-density lipoprotein cholesterol.

The ANCHOR trial demonstrates that Vascepa lowers triglyceride levels in patients with high (≥ 200 mg/dL and < 500 mg/dL) triglyceride levels not controlled by diet and statin therapy.

In the ANCHOR trial, Vascepa 4g/day significantly reduced TG [triglycerides], non- HDL-C [non-high-density lipoprotein cholesterol or non-"good cholesterol,"] Apo B [Apolipoprotein B], VLDL-C [very-low-density lipoprotein cholesterol], TC [total cholesterol] and HDL-C [high-density lipoprotein cholesterol or "good cholesterol"] levels from baseline relative to placebo in patients with high (≥ 200 mg/dL and < 500 mg/dL) triglyceride levels not controlled by diet and statin therapy. The reduction in TG [triglycerides] observed with Vascepa was not associated with elevations in LDL-C [low-density lipoprotein cholesterol or "bad cholesterol] relative to placebo.

The Court's ruling also permits communication to healthcare professionals of the following information:

  • peer-reviewed scientific publications relevant to the potential effect of EPA on the reduction of the risk of coronary heart disease, such as the JELIS cardiovascular outcomes trial of a pure-EPA product in Japanese patients and other publications on omega-3 acid studies; and
  • more complete efficacy data from the ANCHOR trial.

To ensure that this speech is non-misleading, Amarin would also disclose the following:

  • FDA has not approved to Vascepa reduce the risk of coronary heart disease;
  • The effect of Vascepa on the risk of cardiovascular mortality and morbidity has not been determined;
  • A cardiovascular outcomes study of Vascepa designed to evaluate the efficacy of Vascepa in reducing cardiovascular mortality and morbidity in a high-risk patient population on statin therapy is currently underway;
  • Vascepa may not be eligible for reimbursement under government healthcare programs, such as Medicare or Medicaid, for treatment of statin-treated patients with mixed dyslipidemia and high (≥ 200 mg/dL and < 500 mg/dL) triglyceride levels or to reduce the risk of coronary heart disease. We encourage you to check that for yourself; and
  • Any potential financial or affiliation biases between the firm and those who conducted the ANCHOR study.

 

About prohibitions on communication of off-label drug information

Once a drug is approved by FDA for a specific use in a specific patient population, physicians may exercise their medical judgment to prescribe the drug for any use in any patient population. It is estimated that approximately 20% of all prescriptions in the United States are used by physicians for such "off-label" indications. FDA has taken the position, however, that federal law prohibits pharmaceutical companies from proactively promoting data to the medical community regarding off-label uses -- even when such information is accurate, not misleading and reflective of accepted medical treatment

FDA has acknowledged the importance of the off-label use of many pharmaceutical products. Federal, state and private health plans routinely pay for many off-label drug uses, including certain off-label uses of Vascepa. FDA permits limited communications on off-label uses, such as in response to unsolicited requests for information, under FDA's publication reprint guidance and in connection with scientific exchanges. Prior to this judgment, these restrictions significantly limited the flow of information about the specified off-label uses of Vascepa.

 

About the ruling and potential future proceedings

The ruling today by the Honorable Judge Paul Engelmayer of the United States District Court for the Southern District of New York granted Amarin and the physician plaintiffs relief in the form of a declaratory judgment. The ruling declared as unconstitutional, in this case with the specified disclosures, FDA off-label promotion restrictions.

An appeal of the Court's ruling can be filed within 60 days. The ruling will remain in effect until the Court makes a final decision in the case unless the ruling is appealed and overturned. The underlying litigation may proceed until the Court enters a final order in the case. The lawsuit did not seek and the ruling did not grant approval of the indication contemplated by the ANCHOR study.

 

About the REDUCE-IT cardiovascular outcomes study

The REDUCE-IT cardiovascular outcomes study is the first prospective double-blinded cardiovascular outcomes study of any drug in a population of patients who, despite stable statin therapy, have elevated triglyceride levels. The REDUCE-IT study is also the first cardiovascular outcomes study to test a high, 4-gram dose of a pure-EPA only omega-3 prescription product. In the REDUCE-IT study, pure-EPA Vascepa is being studied as an adjunct to, and not as a replacement for, statin therapy. If successful, Amarin plans to seek additional indicated uses for Vascepa that extend beyond the populations studied in the successful MARINE and ANCHOR trials of Vascepa. These additional indications would potentially address tens of millions of patients in the United States and worldwide with elevated triglyceride levels despite stable statin therapy.

Amarin is blinded to the results of the REDUCE-IT study. The pooled, blinded event rate in the REDUCE-IT study is tracking to expectations for the study to continue until 2017 with results anticipated to be published in 2018. An interim review by the independent data monitoring committee of the efficacy and safety results of the trial is expected to occur during 2016 upon reaching 60% of the target aggregate number of cardiovascular events.

 

About VASCEPA ® (icosapent ethyl) capsules

VASCEPA® (icosapent ethyl) capsules, known in scientific literature as AMR101, is a highly pure-EPA omega-3 prescription product in a 1 gram capsule.

FDA-approved Indications and Usage

  • VASCEPA (icosapent ethyl) is indicated as an adjunct to diet to reduce triglyceride (TG) levels in adult patients with severe (≥500 mg/dL) hypertriglyceridemia.
  • The effect of VASCEPA on the risk for pancreatitis and cardiovascular mortality and morbidity in patients with severe hypertriglyceridemia has not been determined.

Important Safety Information for VASCEPA

  • VASCEPA is contraindicated in patients with known hypersensitivity (e.g., anaphylactic reaction) to VASCEPA or any of its components.
  • Use with caution in patients with known hypersensitivity to fish and/or shellfish.
  • The most common reported adverse reaction (incidence > 2% and greater than placebo) was arthralgia (2.3% for Vascepa, 1.0% for placebo). There was no reported adverse reaction > 3% and greater than placebo.
  • Patients receiving treatment with VASCEPA and other drugs affecting coagulation (e.g., anti-platelet agents) should be monitored periodically.
  • In patients with hepatic impairment, monitor ALT and AST levels periodically during therapy.
  • Patients should be advised to swallow VASCEPA capsules whole; not to break open, crush, dissolve, or chew VASCEPA.
  • Adverse events and product complaints may be reported by calling 1-855-VASCEPA or the FDA at 1-800-FDA-1088.

FULL VASCEPA PRESCRIBING INFORMATION CAN BE FOUND AT WWW.VASCEPA.COM.

Vascepa has been approved for use by the FDA as an adjunct to diet to reduce triglyceride levels in adult patients with severe (≥500 mg/dL) hypertriglyceridemia. Vascepa is under various stages of development for potential use in other indications that have not been approved by the FDA. Nothing in this press release should be construed as promoting the use of Vascepa in any indication that has not been approved by the FDA.

 

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health. Amarin's product development program leverages its extensive experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. Amarin's clinical program includes commitment to the ongoing REDUCE-IT cardiovascular outcomes study. Vascepa® (icosapent ethyl), Amarin's first FDA-approved product, is a highly-pure, EPA-only, omega-3 fatty acid product available by prescription. For more information about Vascepa visit www.vascepa.com. For more information about Amarin visit www.amarincorp.com.

Mainstay Medical Announces Two Additional US Patents Issued

Dublin – Ireland - Mainstay Medical International plc (“Mainstay” or the “Company” listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE), a medical device company focused on the development and commercialization of a novel neurostimulation therapy for people suffering from debilitating Chronic Low Back Pain (CLBP), today announced the issuance of two new U.S. Patents:

• U.S. Patent No. 9,072,897 entitled “Systems and Methods for Restoring Muscle Function to the Lumbar Spine”

• U.S. Patent No. 9,079,019 entitled “Apparatus and Methods for Anchoring Electrode Leads for Use with Implantable Neuromuscular Electrical Stimulator”.

Corresponding applications have been made in other countries. Mainstay continues to add to its portfolio of issued patents and pending applications.

Most people with CLBP have exhausted conventional treatments, are not candidates for surgery or spinal cord stimulation, and in the prime of their lives face a future of continuing pain and disability. For many of these people the root cause of their CLBP is a disruption in the control of the muscles that stabilize the lumbar spine. ReActiv8’s unique approach is to use electrical stimulation to elicit repetitive contractions of the key stabilising muscles of the lumbar spine to reactivate the body’s control over these muscles allowing recovery from CLBP.

Peter Crosby, Mainstay’s Chief Executive Officer, commented: “Our approach to the treatment of CLBP in this challenging population is unique. We are proud of our intellectual property portfolio, and look forward to continued development of the portfolio in the coming years.”

Clinical trials with ReActiv8 are ongoing in Europe and Australia, and the Company recently announced FDA approval to start a clinical trial of ReActiv8 under an Investigational Device Exception (IDE).

 

About Mainstay

Mainstay is a medical device company which is developing an innovative implantable neurostimulation medical device, ReActiv8®, for people with disabling Chronic Low Back Plan (CLBP). Low Back Pain is a leading cause of activity limitation and work absence throughout much of the developed world, imposing a high economic burden on individuals, families, communities, industry, and governments.

The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States and Australia, and is listed on Euronext Paris (MSTY.PA) and the ESM of the Irish Stock Exchange (MSTY.IE).

 

About Chronic Low Back Pain

One of the recognised root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilise the spine in the lower back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.

People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition and the resulting days lost from work, disability benefits and health resource utilisation put a significant burden on economies.

Further information can be found at www.mainstay-medical.com

ReActiv8 is an investigational device and is not approved for commercialisation anywhere in the world. CAUTION – in the United States, ReActiv8 is limited by federal law to investigational use only.

Innocoll AG Appoints Jose Carmona as Chief Financial Officer

Appointment is effective on September 1, 2015

Gordon Dunn will continue as Vice President, Finance Director, Europe

ATHLONE, Ireland -- Innocoll AG (NASDAQ:INNL) today announced that Jose (Pepe) Carmona, previously the Chief Financial Officer of a division of Alcon, a Novartiscompany, has been appointed Chief Financial Officer effective September 1, 2015. Gordon Dunn, Innocoll's current Chief Financial Officer, will continue with the company as Vice President, Finance Director, Europe. The executive changes were made to add further commercialization experience to the senior management team as the company prepares to transition to a fully-integrated specialty pharmaceutical company.

"As Innocoll continues to execute on the transition of the organization, it is essential that our leadership team has the skills and experience required to successfully lead a commercial-stage company," said Tony Zook, Chief Executive Officer of Innocoll. "Jose's extensive background with major pharmaceutical and personal care companies is the skill set that will help propel the company to its next stage in its development. We very much thank Gordon for his contributions as CFO and appreciate his continued commitment to the company by heading our European financial operations."

Mr. Carmona has over 19 years of experience applying his extensive management skills toward the financial operations of commercial-stage companies. Most recently he served as Chief Financial Officer of Alcon Europe, Middle East & Africa, a division of Novartis, and prior to that he held numerous financial management positions with increasing responsibility within Novartis. Before joining Novartis in 2003, Mr. Carmona held senior management positions for several divisions of Proctor and Gamble in Latin America. Mr. Carmona received his B.S. in Industrial and Civil Engineering from Universidad Tecnica Federico Santa Maria in Valparaiso, Chile, and his M.B.A. from Columbia Business School in New York City.

"I am very pleased to be joining Innocoll at such an exciting stage in its development," said Mr. Carmona. "The company could face a rapid transition from a clinical development-stage company to a company with multiple self-marketed products in the very near term. It will be a momentous time at Innocoll and I look forward to contributing to the company's continued success."

Mr. Dunn added, "I am extremely proud of what we accomplished at Innocoll during my tenure as the company's CFO. We raised the capital necessary to build a strong drug formulation platform and set the stage for commercialization. I look forward to working with Pepe who will apply his commercial-stage experience toward moving the company to the next level at exactly the right time in the company's development."

 

About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the company.

Innocoll AG Announces Qualified Infectious Disease Product (QIDP) Designation for Cogenzia for the Adjunctive Treatment of Moderate and Severe Diabetic Foot Infection

ATHLONE, Ireland -- Innocoll AG (NASDAQ:INNL), a global, commercial-stage, specialty pharmaceutical company that develops, manufactures and supplies a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies, today announced that the Cogenzia gentamicin collagen matrix has received Qualified Infectious Disease Product (QIDP) designation for the adjunctive treatment of moderate and severe diabetic foot infection from the FDA.

The QIDP designation was established as part of the Generating Antibiotic Incentives Now (GAIN) Act, passed by the U.S. Congress in July 2012, to increase the incentives for drug manufacturers to produce new antibiotics for serious and hard-to-treat bacterial and fungal infections. Receiving QIDP designation means that Cogenzia is now eligible for additional FDA incentives in the approval and marketing path, including Fast Track designation and Priority Review for development and a five-year extension of market exclusivity.

Diabetic foot ulcers are a serious health concern and affect approximately 7% of diabetic patients each year. Up to approximately 58% of these ulcers may become infected. Published data demonstrates that the current standard of care for diabetic foot infections (DFIs) with systemic antibiotics has a 30-50% failure rate. Failure of treatment can lead to significantly increased risk of hospitalization and often to the need for amputation resulting in increased costs to the healthcare system and a much higher risk of mortality for patients. We believe that Cogenzia has the potential to be the first topical antibiotic approved as adjunctive therapy for the treatment of DFIs and that it could significantly improve upon the current cure success rate.

Cogenzia acts in conjunction with systemic antibiotics and standard wound care to provide high concentrations of gentamicin directly to the site of DFIs. These concentrations are not normally possible with systemic gentamicin treatment due to the risk of side effects. In the Cogenzia Phase 2 program, data demonstrated a statistically significant improvement in the clinical cure rate when compared to systemic antibiotics and wound care alone. In the Phase 2 study, 100% of Cogenzia-treated subjects experienced a clinical cure compared to 70% for the control group.

"We are very pleased to receive QIDP designation for Cogenzia for the treatment of moderate and severe diabetic foot infections," stated David Prior, Executive Vice President of Global Regulatory Affairs forInnocoll. "We believe the importance of Cogenzia as a new treatment option is further endorsed by FDA granting this designation."

 

About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The Company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the company.

Mainstay Medical Strengthens Board with New Independent Director

Dublin, Ireland – Mainstay Medical International plc (“Mainstay” or the “Company” listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE) announces the appointment of Mr James A. Reinstein as an additional independent Director with immediate effect. Mr Reinstein brings a wealth of international knowledge and commercial expertise from a career of over twenty five years in the medical device industry.

Mr. Reinstein is currently President and CEO of Aptus Endosystems, a medical device company based in California. Prior to that he was Senior Vice President and Chief Commercial Officer of Cyberonics Inc., a leading medical device company in neuromodulation, and before that he had a distinguished 17 year career working for Boston Scientific, including serving as European Division Head of the Neurovascular Division based in Paris, France, where he lived for four years. Mr. Reinstein’s educational background is in Business, including completing an Executive Management Program at INSEAD in France.

Commenting on his appointment Mr Reinstein said, “I am extremely excited to be joining Mainstay’s Board of Directors. The Mainstay team has done an impressive job developing ReActiv8 for the large group of patients suffering from chronic low back pain and I look forward to adding value to this Company”.

Welcoming Mr Reinstein’s appointment, Mainstay Medical’s Chairman Dr Oern Stuge said, “We are delighted to have James join our Board. His background and experience add a complementary perspective as an independent Director of the Board”.

 

Additional Information:

Mr. James A. Reinstein (aged 50) holds no shares in Mainstay, and, other than as set out below, there is no further information to be disclosed under schedule 2(g) and Rule 17 of the ESM Rules in respect of Mr. Reinstein's appointment as a Non-Executive Director.

Mr. Reinstein is, or has been, a director of the following companies during the previous five years:

Current Directorships: Aptus Endosystems Inc.

Past Directorships within last 5 years:  None

 

About Mainstay

Mainstay is a medical device company which is developing an innovative implantable neurostimulation medical device, ReActiv8®, for people with disabling Chronic Low Back Plan (CLBP). Low Back Pain is a leading cause of activity limitation and work absence throughout much of the developed world, imposing a high economic burden on individuals, families, communities, industry, and governments.

The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States and Australia, and is listed on Euronext Paris (MSTY.PA) and the ESM of the Irish Stock Exchange (MSTY.IE).

 

About Chronic Low Back Pain

One of the recognised root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilise the spine in the lower back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.

People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition and the resulting days lost from work, disability benefits and health resource utilisation put a significant burden on economies.

Further information can be found at www.mainstay-medical.com.

ReActiv8 is an investigational device and is not approved for commercialisation anywhere in the world.

CAUTION – in the United States, ReActiv8 is limited by federal law to investigational use only.

 

Media queries:

Jonathan Neilan, FTI Consulting Tel: +353 1 663 3686
Email: jonathan.neilan@fticonsulting.com
Astrid Villette, FTI Consulting (French language enquiries)
Tel: +33 1 47 03 69 51
Email: Astrid.Villette@fticonsulting.com

 

Investor relations:

Jillian Connell, The Trout Group LLC
Tel: +1 646 378 2956 / +1 617 309 8349
Email: jconnell@troutgroup.com

 

ESM Advisers:

Fergal Meegan or Barry Murphy, Davy
Tel: +353 1 6796363
Email: fergal.meegan@davy.ie or barry.murphy2@davy.ie

Neuravi Announces €19M ($21M) in Financing to Advance Innovative Minimally Invasive Stroke Therapy

Galway, Ireland - Neuravi, a company dedicated to improving clinical outcomes for stroke patients, announced today that it has completed a Series B financing of €19M ($21M) to advance the company’s minimally invasive thrombectomy device for acute ischemic stroke, the EmboTrap® Revascularization Device. The round was led by European private equity firm LSP (Life Sciences Partners), with participation from returning Series A investors Fountain Healthcare Partners, Delta Partners and the Western Development Commission.

The funding will support European commercialization of the EmboTrap device, as well as Neuravi’s clinical trial, ARISE II, which will begin enrolling patients this year at select centers in the United States and Europe.

Ischemic strokes, caused by blockages in vessels supplying blood to the brain, account for 87 percent of all strokes and are a leading cause of death and disability. Approximately one million Europeans and 700,000 Americans suffer ischemic strokes each year.

Following a stroke, rapid intervention is critical. Minimally invasive thrombectomy devices, also known as “stent retrievers,” are used by physicians in an acute intervention to remove a clot and reopen cerebral blockages to immediately restore blood flow to the brain. A series of recent highly positive multinational clinical trials have demonstrated that patients treated with thrombectomy have better outcomes than those treated with medical therapy alone.

Based on a foundation of clot mechanics research, Neuravi’s technology is designed to capture and remove clots while reducing the opportunity for embolization of clot particles that could potentially cause a new stroke in another territory, contributing to poor patient outcomes. In a case series presented at the European Stroke Organization Congress earlier this year evaluating use of the EmboTrap device in 42 stroke patients at two European centers, treatment with the device restored significant blood flow in 86 percent of patients, with the majority of patients recovering to be able to function independently.

“This is an exciting time to be backing a company dedicated to improving stroke therapy, given the recent series of positive trial results that have decisively demonstrated the value of endovascular treatment for large vessel occlusions. These are the most devastating types of stroke, creating a tremendous social and economic burden for patients, and improved treatment has the potential to both save lives and improve quality of life,” said Anne Portwich, partner, LSP. “The Neuravi team has impressed us tremendously with its thorough approach, from the clot research that informs the company’s technology development, to collaborations with leading experts in the treatment of stroke.”

As part of the financing, Anne Portwich and René Kuijten, partner, LSP, will join Neuravi’s board of directors.

“As the company moves into commercialization in Europe and into U.S. clinical trials, we are gratified to be supported by such a knowledgeable group of investors who share our vision of improving outcomes for stroke patients and see the value of our innovative technology,” said Eamon Brady, Neuravi’s CEO. “We look forward to working closely with the clinical community as we make the EmboTrap commercially available in Europe, and gather more data through ARISE II to support the device’s use clinically in the U.S.”

 

About the EmboTrap Revascularization Device

The design of the EmboTrap Revascularization Device is informed by extensive research into a full range of clots that cause ischemic stroke. With this foundation of research, the EmboTrap device is engineered to retrieve and retain the clot with a proprietary dual-layer stent-like structure while restoring blood flow to the brain. The device’s integrated distal protection zone is designed to reduce the risk of fragments of clot dislodging during retrieval, which could cause additional harm to the patient.

 

About Neuravi

Based in Galway, Ireland, Neuravi is dedicated to improving clinical outcomes for stroke patients. The company’s initial stroke therapy platform, the EmboTrap Revascularization Device, is CE marked, and commercially available in Europe, while it is for investigational use only in the United States. Through its investment in the Neuravi Thromboembolic Initiative (NTI), Neuravi supports collaboration between engineers, clinicians and researchers to deepen the understanding of clot and occlusion dynamics, in order to improve patient outcomes in stroke. Neuravi is led by a team experienced in endovascular device development and global commercialization. More information can be found at www.neuravi.com.

 

About LSP

LSP (Life Sciences Partners) is a leading independent European investment firm, providing financing for private and public life-science companies. Since the late 1980s, LSP’s management has invested in a large number of highly innovative enterprises, many of which have grown to become leaders of the global life-science industry. With over USD 1 billion of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s largest and most experienced specialist life-science investors. LSP will participate with two funds in this financing, the LSP Health Economics Fund and the LSP 5 Fund. For more information, please visit www.lspvc.com.

 

About Fountain Healthcare Partners

Fountain Healthcare Partners fund is the largest dedicated life science venture capital fund in Ireland, with €176m under management. Exclusively focused on the life science sector, specific areas of interest to Fountain include specialty pharma, medical devices, biotechnology and diagnostics. The firm deploys the majority of its capital in Europe, with the balance in the United States. Fountain’s main office is in Dublin, Ireland, with a second office in New York. For more information, please visit www.fh-partners.com.

 

About Delta Partners

Delta Partners is a venture capital firm investing primarily in Ireland and the United Kingdom. Established in 1994 with €250 million under management, Delta is among the most active early-stage investors in Europe. The partners’ backgrounds in operations, strategy and finance complement the drive and ambition of entrepreneurial management teams. For more information, please visit www.deltapartners.com.

Innocoll AG Announces First Patient Dosed in the Cogenzia COACT-2 Phase 3 Study for the Treatment of Diabetic Foot Infection

ATHLONE, Ireland - Innocoll AG (Nasdaq:INNL), a global, commercial-stage, specialty pharmaceutical company that develops, manufactures and supplies a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies, today announced that the first patient was dosed in the COACT-2 (COgenzia Adjuvant for Complete Therapy) Phase 3 study for the treatment of diabetic foot infections (DFIs) using Cogenzia, Innocoll's topically applied, bioresorbable collagen sponge. COACT-2 is the second of two pivotal Phase 3 studies for Cogenzia to enroll the first subject. The study is being conducted in both the E.U. and the U.S.

Diabetic foot ulcers are a serious health concern and affect approximately 7% of diabetic patients each year. Up to approximately 58% of these ulcers may become infected. Published data demonstrate that the current standard of care for DFIs with systemic antibiotics has a 30-50% failure rate. Failure of treatment can lead to significantly increased risk of hospitalization and often to the need for amputation resulting in increased costs to the healthcare system and a much higher risk of mortality for patients. We believe Cogenzia has the potential to be the first topical antibiotic approved as adjuvant therapy for the treatment of DFIs and could significantly improve upon the current cure success rate.

Cogenzia acts in conjunction with systemic antibiotics and standard wound care to provide high concentrations of gentamicin directly to the site of DFIs. These concentrations are not normally possible with systemic gentamicin treatment due to the risk of side effects. In the Cogenzia Phase 2 program, data demonstrated a statistically significant improvement in the clinical cure rate when compared to systemic antibiotics and wound care alone. In the Phase 2 study, 100% of Cogenzia-treated subjects experienced a clinical cure compared to 70% for the control group.

"Foot infections are a serious problem for persons with diabetes, often leading to lower extremity amputation. It is critical we treat these infection with the most appropriate antibiotic therapy, covering the usual pathogens while avoiding unnecessary use of broad-spectrum antibiotics, to help avoid the development of bacterial resistance," said Dr. Benjamin A. Lipsky, Emeritus Professor of Medicine, University of Washington and Visiting Professor of Medicine, University of Geneva and University of Oxford. "The Cogenzia studies may help provide additional insight into the antimicrobial management of this potentially devastating infection and may enable a better understanding of the ideal treatment paradigm for this problem."

The COACT-2 Phase 3 study is the second of two identical randomized, placebo-controlled, blinded studies to investigate the safety and efficacy of a topical gentamicin-collagen sponge in combination with systemic antibiotic therapy in diabetic patients with an infected foot ulcer. The first Phase 3 study, COACT-1, started in May of this year. Each study is expected to enroll approximately 500 patients between the ages of 18 and 85 in the EU (COACT-2) and United States (COACT-1 and 2). Patients diagnosed with moderate to severe DFIs will be treated in one of three arms per study: a Cogenzia sponge, a placebo sponge or no sponge with all patients in the study receiving systemic antibiotics and standard would care.

The primary endpoint is treatment effectiveness, test of clinical cure, which will be evaluated by the investigator at the post-treatment visit scheduled approximately 10 days post completion of treatment. Safety will be evaluated through the collection of adverse events through 90 days post completion of treatment. Additional key secondary endpoints include the percentage of patients with complete eradication of the pathogen, time to clinical cure, percentage of patients with an amputation and percentage with ulcer closure.

To qualify for the study, patients must have diabetes mellitus, according to the American Diabetes Association (ADA) criteria and have at least one skin ulcer located on or below the ankle that presents as a moderate or severe infection based on the Infectious Disease Society of America guidelines for the "Diagnosis and Treatment of Diabetic Foot Infections" (CID 2012; 54:132-173). Following screening and determination of eligibility, study participants will be assigned to one of three groups. Patients will be treated with daily sponge / dressing changes and systemic antibiotics for up to 28 days and the evaluation of clinical cure will occur 10 days thereafter. Topline results from the study are expected in the middle of 2016.

More information on the study will be posted at www.clinicaltrials.gov.

 

About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The Company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the company.

Mainstay Medical Gains Approval to Start US Clinical Trial of ReActiv8®

Dublin – Mainstay Medical International plc (“Mainstay” or the “Company” listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE) has received approval from the United States Food and Drug Administration (FDA) to begin a clinical trial of ReActiv8® under an Investigational Device Exemption (IDE). ReActiv8 is an innovative implantable neurostimulation system designed to reduce the pain and disability of Chronic Low Back Pain (CLBP) by helping to restore control to the muscles that dynamically stabilise the lumbar spine.

"The FDA approval to start a US clinical trial of ReActiv8 is a major step towards our goal of bringing ReActiv8 to the US market," said Peter Crosby, the CEO of Mainstay Medical. "We are impressed with the FDA’s responsiveness during the development and review of this trial. It helped us to develop a clinical trial to meet the needs of the Company, the FDA, and the millions of people who could potentially benefit from ReActiv8."

The FDA approval is for the planned ReActiv8-B trial, an international, multi-centre, prospective randomized sham-controlled trial designed to evaluate the safety and efficacy of ReActiv8 for the treatment of adults with CLBP and no prior back surgery.

The approval is to conduct the ReActiv8-B trial at up to 40 clinical trial sites and for 128 randomized subjects to be implanted with ReActiv8 in the pivotal cohort. The IDE approval allows the Company to engage with investigators, clinical trial sites, and Institutional Review Boards (IRBs or Ethics Committees) leading towards the first subject recruitment and implant.

Upon successful completion of the ReActiv8-B Trial and if the results support it, the Company plans to submit an application for a Pre-Market Approval (PMA) which is required to allow the start of commercialization in the United States.

In the approval letter, the FDA provided some helpful study design recommendations which the Company is considering, and it is possible that one or more IDE supplements may be submitted in the coming months.

Protocol details will be published on www.clinicaltrials.gov before the start of the ReActiv8-B Trial.

The Principal Investigator for the trial is Dr Christopher Gilligan, Chief, Division of Pain Medicine at Beth Israel Deaconess Medical Center in Boston, and Assistant Professor of Anaesthesiology at Harvard Medical School. Dr Gilligan is head of the Data Monitoring Committee of the ongoing ReActiv8-A Trial.

 

About Mainstay

Mainstay is a medical device company which is developing an innovative implantable neurostimulation medical device, ReActiv8®, for people with disabling Chronic Low Back Plan (CLBP). Low Back Pain is a leading cause of activity limitation and work absence throughout much of the developed world, imposing a high economic burden on individuals, families, communities, industry, and governments.

The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States and Australia, and is listed on Euronext Paris (MSTY.PA) and the ESM of the Irish Stock Exchange (MSTY.IE).

 

About the ReActiv8-A Trial

The ReActiv8-A clinical trial, is a prospective single arm clinical trial with up to 96 subjects at sites in Australia and Europe. Outcome measures for the ReActiv8-A clinical trial are assessed at a three month endpoint after activation of stimulation and compared to baseline prior to implant. Further details can be obtained at https://clinicaltrials.gov/show/NCT01985230.

 

About Chronic Low Back Pain

One of the recognised root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilise the spine in the lower back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.

People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition and the resulting days lost from work, disability benefits and health resource utilisation put a significant burden on economies.

Further information can be found at www.mainstay-medical.com.

ReActiv8 is an investigational device and is not approved for commercialisation anywhere in the world.

CAUTION – in the United States, ReActiv8 is limited by federal law to investigational use only.

 

Media queries:

Jonathan Neilan, FTI Consulting Tel: +353 1 663 3686, Email: jonathan.neilan@fticonsulting.com

Astrid Villette, FTI Consulting (French language enquiries):  Tel: +33 1 47 03 69 51,  Email: Astrid.Villette@fticonsulting.com

 

Investor relations:

Jillian Connell, The Trout Group LLC: Tel: +1 646 378 2956 / +1 617 309 8349, Email: jconnell@troutgroup.com