Dr. Roy Altman Joins BioChemics Scientific Advisory Board to Advise on Clinical Development of Targeted Osteoarthritis Therapy.
DANVERS, MA -- May 7, 2008 -- BioChemics, Inc., a company pioneering transdermal drug delivery is pleased to announce that Dr. Roy D. Altman, Professor of Medicine, Division of Rheumatology and Immunology at the University of California, Los Angeles and Past President of the Osteoarthritis Research Society International has elected to serve as a member of the Companys Scientific Advisory Board (SAB). Dr. Altman will be providing strategic input into the clinical development of the companys targeted, topical, non steroidal anti-inflammatory (NSAID) product to treat osteoarthritis.
To add to our SAB an internationally recognized pioneer in the field of Osteoarthritis such as Dr. Altman, with his longstanding success in the clinical development of therapies to treat arthritic patients is a significant addition to our SAB, said John J. Masiz., President and CEO, BioChemics, Inc. We believe there is a significant market opportunity for a drug delivery system that minimizes gastrointestinal side affects associated with oral NSAIDs while providing targeted delivery to the affected area.
Serious toxicity (leading to hospitalization or death) from oral NSAID use occurs for an estimated 100,000 to 200,000 people per year in the United States. Moreover, it is estimated conservatively that 16,500 NSAID-related deaths occur among patients with rheumatoid arthritis or osteoarthritis every year in the United States.
I am excited to be asked to contribute my knowledge and expertise toward the success of a company such as BioChemics, said Dr. Roy Altman, Professor of Medicine, Division of Rheumatology and Immunology at the University of California, Los Angeles. Dr. Altman adds, Topical, localized delivery of agents known to be effective in the treatment of osteoarthritis is a welcome addition to patients and will present physicians with an alternative to current older oral therapies.
About Osteoarthritis
Osteoarthritis (OA), also known as hypertrophic osteoarthritis, osteoarthrosis, and degenerative joint disease, is the most common form of arthritis. A chronic disease, it involves deterioration of the joint cartilage and formation of reactive new bone at the margins and subchondral areas of the joints. This can involve hands, hips and/or knees. However, virtually any joint can be involved. Most OA is of unknown cause, but may be related to work-related repetitive injury or physical trauma. The most common symptom of OA is a deep, aching joint pain, particularly after exercise or with weight bearing activity.
OA is widespread, occurring more often in women than men. The onset is usually after age 40; its earliest symptoms generally begin in middle age and may progress with advancing age. OA is the leading cause of disability in the U.S. and affects about 21 million adults.
The OA market is estimated to be $6 billion for both non-steroidal anti-inflammatory drugs (NSAIDs) and cyclooxygenase inhibitors (Cox-2).
About Dr. Roy Altman
Dr. Altman is Professor of Medicine, Division of Rheumatology and Immunology at the University of California, Los Angeles. Dr. Altman is Professor Emeritus at the University of Miami, Miami, Florida and the Past President of the Osteoarthritis Research Society International. Dr. Altman has over 35 years of clinical experience in Osteoarthritis and Rheumatology. He is a founding member of the Osteoarthritis Research Society and has served as Chairman for the Design and Conduct of Clinical Trials in Osteoarthritis as well as the Chairman on Clinical Trials in Osteoarthritis. He has also been a member of the American College of Rheumatology, American Medical Association, National Osteoporosis Foundation, Arthritis Foundation and Pagets Disease Foundation. He is co-editor of Seminars in Arthritis and Rheumatism and Editor-in-Chief of Osteoarthritis and Cartilage.Dr. Altman has been recognized for his life work in rheumatology and immunology and recently was awarded the Lifetime Achievement Award in Osteoarthritis by the Osteoarthritis Research Society International in December 2007. Dr. Altman recently joined the Scientific Advisory Board in March 2007.
About BioChemics, Inc.
BioChemics is a pharmaceutical company that has developed a novel, transdermal drug delivery system for the first time that allows almost any drug to be efficiently delivered through the skin. The transdermal technology, called VALE (Vaso-active Lipid Encapsulated), allows a substantial portion of the pharmacopeia to be re-engineered, turning oral drugs into transdermals that are safer (no gastro-intestinal problems), cheaper and potentially faster acting (applied directly to the treated area) than oral equivalents. The company's focus is on multi-billion dollar market opportunities currently underserved by existing therapies. The company's two lead clinical products focus on treating diabetic neuropathy and osteoarthritis. Founded in 1989, the Company is headquartered in Danvers, Mass. Additional information is available at BioChemics.
VALE is a registered trademark of BioChemics, Inc.
Contact:
BioChemics, Inc.,
David H. Donabedian, Ph.D., COO & SVP, Business Development
(978) 750-0090