VANCOUVER, British Columbia, June 26, 2012 /PRNewswire/ -- Enox Biopharma, Inc. (VANCOUVER, BC.), a leader in the development of innovative solutions for infections associated with medical devices and TTA LTD (Tel Aviv, Israel) today announced an execution of an exclusive royalty bearing license agreement under which Enox Biopharma shall grant TTA LTD rights to patent application and knowhow for use in developing novel therapies for wound care applications.
Under this agreement, Enox Biopharma assigned a recently filed provisional patent to TTA that covers novel means of delivering nitric oxide directly to wounds. Nitric oxide is well known in its ability to both prevent infections and act as a vasodilator which increases blood flow. Both of these are beneficial during the wound healing process. Direct exposure of a wound to nitric oxide has promise to facilitate the closing of chronic wounds that would not otherwise heal. TTA will use Enox Biopharma's innovation to develop innovative wound healing treatments and technologies.
"This agreement allows for concurrent focused development at Enox of our core competency and technology related to rendering medical devices antimicrobial and at TTA of wound care applications," said John Rewcastle, Enox's CEO. "Both these are significant endeavors that require company focus. I have the utmost confidence that TTA will be successful in their efforts which will, of course, be beneficial to Enox."
Racheli Vizman, TTA LTD's COO commented, "The wound care market is massive and expected to exceed twenty billion dollars by 2015. Unfortunately for patients today the market is also underserved. We believe the technology developed by Enox has very significant potential to revolutionize the wound care field. TTA will be working to take the technology through the development and regulatory process."
About Enox Biopharma, Inc.
Enox Biopharma, Inc. is an emerging biotechnology company with proprietary methods to sequester nitric oxide (NO) into polymers. The innate immune system uses NO to block microbial growth - embedding NO into medical devices makes them antimicrobial. Enox's device technology is applicable to any indwelling polymer medical device including, but not limited to, catheters, endotracheal tubes and central venous catheters. Infections from these devices, which are often not reimbursed by Medicare, represent a massive financial burden to healthcare systems worldwide.
About TTA, LTD.
TTA Ltd. is a privately held, Israel-based company focuses on developing innovative topical therapeutics products for wound healing.
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|SOURCE Enox Biopharma, Inc.|
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