Endovasc (Montgomery, Texas) reported the creation of BioFlow as a new, wholly owned subsidiary, to manage the continued development of biodegradable stents.
Endovasc and Nathan Blumberg, MD, have jointly transferred the intellectual property from both of the previous joint ventures involving TissueGen (Arlington, Texas) into BioFlow.
Diane Dottavio, PhD, president/CEO of Endovasc, told Medical Device Daily that the first project of BioFlow would be to develop a biodegradable urinary stent for ureteral application.
Dottavio said that urinary stents are currently made of rubber or silicone and are not biodegradable. After a procedure such as ureteroscopies (procedures to visualize the ureter and extract stones) and lithotripsies (external ultrasonic destruction of stones), a stent is often placed in the urinary tract to prevent the small stone fragments from coalescing and obstructing the ureter after the procedure.
“Once the fragments are gone they have to remove the stent, which is a second whole procedure, it’s painful, and it produces a cost to the patient that we think we can eliminate,” Dottavio said.
The company said that Blumberg would continue to contribute his expertise to develop and ultimately commercialize new biodegradable stents for ureteral applications. A unique product design conceived by Blumberg will be incorporated into the device, the company added.
BioFlow will manage product definition and the development process through a sponsored laboratory research agreement. The objective is to develop biodegradable ureteral and urethral stents that can be degraded in the body within seven to 14 days after a procedure, Dottavio said, compared to other biodegradable stents on the market which degrade in more like six weeks, she added. All IP developed under this research agreement is assigned to BioFlow.
“We’re excited because we have decided that this is the best way we could fund the research agreement so we put out a private placement memorandum [to seek interested investors] in return for owning a portion of the product,” Dottavio said. “75% of the product proceeds will go back to individuals who invest in this.”
Endovasc reported partnering with TissueGen in 2003 to develoop a bioreabsorbable drug-eluting stent so that after the drug is gone from the stent, the stent also disappears, reabsorbed by the body (Medical Device Daily, Aug. 22, 2003).
Endovasc is focused on developing and commercializing drug candidates in the areas of cardiovascular and metabolic medicine.
Endovasc is organized as a business development company, and owns interests in three portfolio companies:
• Liprostin , which holds the intellectual property for a liposomal-based treatment to increase circulation and reduce leg pain in patients suffering from vascular disease.