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AerovectRx Corp. Receives FDA 510(K) Clearance for the First Nebulizer Drug Delivery System With Disposable Medication Cartridge; AeroCell(TM) Cartridge Provides for Cost-Effective Delivery of Drugs and Ongoing Revenue Stream

Posted on: Tuesday, 11 April 2006, 09:01 CDT

AerovectRx, Corporation, developers of new pain-free, inhaled drug delivery technology, today announced that it received 510(k) clearance from the U.S. Food and Drug Administration to market the first vibrating mesh nebulizer with a disposable medication cartridge. The new technology is planned for use to deliver a wide variety of specialty point-of-care therapies painlessly by inhalation rather than injections.

"Our unique, painless technology platform provides fast and easy delivery of a wide range of therapies and vaccines providing access to multi-billion dollar market opportunities including influenza, idiopathic pulmonary fibrosis and diabetes," said Matthew Kim, founder and CEO of AerovectRx. "We believe that our technology is attractive to pharmaceutical companies seeking to maximize delivery of their drugs and also to physicians and patients alike seeking to remove the pain barrier of injections."

AerovectRx's technology centers on the proprietary AeroCell(TM) disposable drug cartridge that provides for highly efficient and effective inhaled delivery of therapeutics and a continuing revenue stream.

"Now that we have received our initial 510(k) clearance, we are focusing our efforts on commercializing this technology and further advancing business development discussions with potential partners. Our unique design provides for a platform that can be leveraged across multiple markets along with a disposable cartridge revenue stream in addition to the drug being administered. We plan to partner with pharmaceutical and biotechnology companies with established market presence and a sales and distribution infrastructure already in place," said Mr. Kim.

AerovectRx Corporation is an early stage company developing novel pulmonary drug delivery technology licensed from the U.S. Centers for Disease Control and Prevention (CDC). Products under development by AerovectRx are designed to deliver a wide variety of therapies through multiple-use mass immunization and as well as personalized nebulizers. Initially targeted therapeutic candidates for the AerovectRx technology include treatments for asthma, cystic fibrosis, idiopathic pulmonary fibrosis, avian flu, and diabetes. For more information, visit www.aerovectrx.com.

Source: Business Wire

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