Aeon Bioscience Develops Drug Eluting Stents

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Drug Eluting Stents

Aeon Bioscience, Inc. announced the recent acquisition of one of its key collaborators, Brookwood Pharmaceuticals, Inc. by SurModics, Inc., a major development in its quest to develop improvements in drug-eluting stent technology for the treatment of cardiovascular disease.

Aeon Bioscience was formed as a collaborative enterprise between Brookwood Pharmaceuticals, Inc. and Targeted Technology Ventures, LLC. Subsequent to announcing the collaboration on May 7, 2007, Brookwood was acquired on August 1, 2007 by SurModics, Inc., a leading provider of surface modification and drug delivery technologies to the healthcare industry. As a result of this acquisition, Aeon expects to benefit from SurModics' experience in developing drug delivery technologies for drug eluting stents.

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Christopher E. Banas, Principal of Targeted Technology Ventures and CEO of Aeon Bioscience, said "The combined strengths of Brookwood and TTV have supplied Aeon with superior experience and talent in the use of biodegradable materials, drug delivery, vascular stent engineering, clinical testing, and the regulatory process. The addition of the SurModics team facilitates our ability to advance our technology to an even higher level, and at an accelerated pace, as we work to achieve our objective of developing a solution to the safety issues currently experienced with drug eluting stents." Dr. Paul Castella, Principal of TTV and co-founder of Aeon agrees, "We have an exceptional operating team, a renowned advisory board of international leaders in the field, and now a prominent set of added capabilities."

Dr. Arthur J. Tipton, Ph.D., President of Brookwood Pharmaceuticals, added "We remain excited about the opportunity presented by the Aeon technology. This collaboration will substantially benefit from the vast experience and expertise that the SurModics organization has accumulated in the cardiovascular market."

Alan H. Dean, Managing Partner, Fund Operations at Greer Capital Advisors and Aeon's Chairman of the Board, said "We need successes such as these to bring attention to the wealth of mostly untapped potential within the enviable technology resources in Birmingham. This is an excellent example of what we wish to accomplish at Greer Capital Advisors, and expect to see much more of it."

About Restenosis and Late Stent Thrombosis

One of the most significant medical advances in the treatment of cardiovascular disease has been the use of stents - tiny metal, mesh-like tubes that are inserted to keep arteries open following artery-clearing procedures such as angioplasty. One complication associated with stenting is restenosis (thickening of the artery caused by the healing response at the stent site), which occurs in up to 25 percent of cases, and often results in a costly re-intervention. The advent of drug eluting stents has markedly decreased the problem of restenosis. These metal stents are coated with polymers containing cellular growth-inhibiting drugs that are eluted into the surrounding tissue, resulting in reduced thickening of the vessel wall. However, some recently published clinical studies suggest that patients who receive drug eluting stents may have higher rates of late stent thrombosis (clot formation at or near the site of the stent) than those treated with bare metal stents. While there are many theories for what causes thrombosis, the phenomenon may be attributed at least in part to the inability of the body to heal the vessel wall over the polymer coatings currently used to deliver the drug. More than 50% of patients who develop late stent thrombosis experience either an acute myocardial infarction (heart attack) or death.

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