Inovio Biomedical Corporation announced that it has granted an option to a commercial license to develop intravascular catheters using its proprietary electroporation technology to Cardigant Medical, Inc. Utilizing Inovio’s electroporation technology Cardigant develops catheters in exchange for an option fee and, upon exercise of the option, royalties on product sales. Clinical data of Electroporation technology is shown to enhance cellular uptake of drugs and genes. Incase of genes it enhance levels of gene expression.
Jerett Creed, President of Cardigant Medical, said, “We strongly believe in the potential of this technology to enhance the therapeutic options available for treating the many components of vascular disease. We view this technology as an enabling component that we hope will translate into improved clinical outcomes for patients worldwide.”
Dr. J. Joseph Kim, CEO of Inovio Biomedical, stated, “Inovio’s significant electroporation patent estate and well-developed technology encompasses a broad scope of medical applications, with many potentially important development opportunities. While Inovio is devoted to the advancement of its proprietary pipeline of electroporation-delivered DNA vaccines for diseases such as HPV, HIV and influenza, we are pleased to establish this relationship with Cardigant. We wish them success in their endeavor to commercialize this promising application of electroporation technology.”