Auritec receives funding for the development of intra-articular corticosteroids injections

Pasadena, CA. September 1, 2005

Auritec Pharmaceuticals, Inc. is pleased to announce the receipt of a Phase 1 Small Business Innovation Research grant sponsored by the National Institutes of Health.  The grant will fund work to reduce pain due to arthritis via sustained release steroid injections.

The broad goal of this research is to reduce or eliminate morbidity due to arthritis by developing injectable long term intra-articular drug delivery systems. Intra-articular steroids have been a mainstay of treatment for arthritis for more than 50 years. For many patients multiple injections are necessary, and the longer acting the steroid, the more effective it is. We have developed a series of steroid delivery systems that can deliver fluocinolone or dexamethasone at therapeutic levels in the eye for as long as 3 years from a single implantation. These delivery systems have been extensively tested in animal models and have completed Phase III clinical testing in patients with ocular inflammatory disease. We have also developed a platform suspension technology that can be adapted for the delivery of intra-articular steroids. We believe that the development of an injectable intra-articular sustained release steroid delivery formulation is readily achievable and that this device will become a useful tool in the treatment of rheumatoid arthritis.

Auritec is pleased to continue its collaboration with Dr. Roger Jelliffe, MD.  Dr. Jelliffe is a Professor of Medicine and the Director of the Applied Pharmacokinetics Laboratory at the University of Southern California. He is the primary author and developer of the USC*PACK Clinical Pharmacokinetics Computer Program. He has published extensively on clinical pharmacokinetics. Dr. Jelliffe is on the editorial boards of journals in the fields of therapeutic drug monitoring and computers in medicine. He was Chairman of the Pharmacometrics Section of the American Society for Clinical Pharmacology and Therapeutics and is a recipient of the Award for Research Achievement in Clinical Medicine from the American Association of Pharmaceutical Scientists.

Auritec Pharmaceuticals, Inc. is a small company based in Pasadena, California specializing in innovative, extended release drug delivery systems. Auritec was founded by Thomas J Smith, MD and Gary Ransom. Dr Smith was previously Medical Director and Chairman at Control Delivery Systems, Inc. (CDS), where he was the co-founder, PI on key patents and remains a significant shareholder. Dr Smith is joined on Auritec's management team by Gary Ransom, a seasoned international business executive, who focuses on strategy, marketing and business development.

Auritec has developed a novel approach to extended release drug delivery with implications so far for indications including schizophrenia, Parkinson’s disease, arthritis, herpes and HIV/AIDS. Auritec’s primary objective is to develop and test the use of its Plexis platforms in a wide range of drug classes, and subsequently license the technology to key partners to continue development, trials and eventual commercialization.