GEORGETOWN, Texas, Feb. 1 /PRNewswire/ -- Intralink-Spine Inc. (ILS), a privately held medical device company focused on the treatment of degenerative disc disease and low back pain, announced today that it has been awarded a $750,000 Small Business Innovation Research (SBIR) Grant from the National Institutes of Health (NIH) for pre-clinical studies of its NEXT technology.
Dr. Thomas Hedman, Ph.D., Founder and CSO of ILS, commented: "Securing this grant enables us to complete pre-clinical testing and start First-in-Man clinical trials. This grant also underscores the mounting enthusiasm for our unique injectable treatment for low back pain, which affects over 15 million people each year in the US alone."
The technology, NEXT (Nonsurgical EXogenous crosslink Therapy), is based on the body's natural response to heal instability and degradation of the spinal disc. The NEXT device is designed to immediately strengthen and stabilize the disc, reducing disc bulge and pain without the costs and risks associated with surgery. Dr. Hansen Yuan, M.D., a leader in spine surgery, added: "This injectable tissue reinforcement procedure can provide an effective treatment for patients who are either early in the disease process or adverse to surgery."
About Intralink-Spine Inc.
Intralink-Spine Inc. (ILS) is privately held by Orthopeutics LP (OLP, Georgetown, TX) and a group of angel investors. OLP is a biotechnology innovator founded in September of 2004 to develop and commercialize revolutionary non-surgical solutions for common orthopaedic problems. OLP's general partner is Ampac Biotechnology, Inc. also located in Georgetown, TX. Ampac was founded in 2001 when it was awarded an STTR Phase I grant from the NIH.
For more information on ILS, please visit: www.intralink-spine.com.
This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting ILS's business including increased competition; the ability of ILS to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks.
SOURCE Intralink-Spine Inc.
|SOURCE Intralink-Spine Inc.|
Copyright©2010 PR Newswire.
All rights reserved