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Press Release

Two US Patents Issued on the Supercritical Nitrogen (SCN) Cryoablation Platform

(PRLeap.com) December 21, 2015 - OWEGO, NY — CPSI Biotech announced today the issuance of two new patents by the US Patent Office covering device design and method of use for the supercritical nitrogen (SCN) cryoablation medical device platform. CPSI has invested the last 6+ years on the development and testing of this next generation cryoablation device platform.

The patents (US Pat#’s: 9,089,316 and 8,998,888) include design and use of the advanced SCN cryogenic medical system which offers promise for utilization in the clinical arena. CPSI completed a technology transfer agreement involving the SCN platform in 2012 under which CPSI retained exclusive license rights for development and commercialization of the SCN technology platform in a number of areas, including pancreatic cancer and cardiac arrhythmia’s. CPSI is currently pursuing the acquisition of financing to support final development, testing and obtaining regulatory approval in support of commercialization.

"These latest patents cover claims to system design and methods of use of the SCN cryoablation device. The issuance of these patents brings the current SCN portfolio to 4 issued patents with a number of others pending in the US and internationally" said Dr. J.M. Baust, President and Lead Scientist, CPSI Biotech. When asked about the benefits and potential applications of the technology, Dr. Baust responded "this next generation cryoablation platform provides increased capacity to freeze targeted tissue sites through the generation and circulation of supercritical nitrogen in a variety of closed-looped catheters and probes. The unique properties of SCN offer the ability to rapidly and controllably deliver ultra-cold temperatures, deeper into tissues than any of today’s commercial cryoablation systems. This increased performance provides the capability to more effectively and quickly ablate targeted tissue. The increased speed and freeze capacity of the SCN system is also allowing exploration and development of new treatment approaches and new indications, such as endovascular-based treatment of ventricular tachycardia, where the use of cryo has historically been limited by freeze (power) limitations."

When asked about the potential impact, Dr. Baust stated "these new patents continue to strengthen and broaden CPSI’s technology portfolio, providing for an improved position supporting CPSI’s business development initiatives in the cardiac arrhythmia and gastrointestinal cancer ablation arenas whose overall markets approached ~$5 billion and ~$3.5 billion, respectively, in 2015." Baust further stated "with the growing incidence and high mortality rate (<5% 5-year survival) for pancreatic cancer there is a pressing need for new treatment strategies. CPSI’s cryoablation platform opens the potential for a new treatment option for the over 100,000 individuals diagnosed with pancreatic cancer annually worldwide. In the area of cardiac arrhythmia’s, there is a push for improved minimally invasive approaches to treat indications ranging from atrial fibrillation to ventricular tachycardia. In this regard, the hope is that our cryoablation platform will offer new options to the over 4 million individuals who currently suffer from various cardiac arrhythmia’s in the US."

This latest round of patents, issued in 2015, follows the issuance of two other SCN related patents (issued in 2013 & 2014). CPSI also holds several other issued and pending patents on a variety of other cryoablation devices (probes, catheters) and methods of use, as well as several in the life science arena.

About CPSI Biotech - CPSI Biotech, a private, integrative bio/medtech greenhouse company, develops and designs life science research products and cryo-medical devices for applications in cancer, cardiovascular disease treatments and cell therapy bioprocessing. Ongoing R&D and business development activities continue to produce innovative technologies, devices and intellectual property for commercialization, licensing or sales in support of diverse clinical and research applications. By leveraging the innovation, flexibility and R&D strengths of CPSI in combination with the development, commercialization, manufacturing and clinical expertise of partnering organizations, rapid and efficient product development is attainable.

Disclosure Notice: The information contained in this release is as of December 18, 2015. CPSI assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments. CPSI’s technologies do not have regulatory clearance for commercial sale and are currently intended for "Research Use Only".

With the exception of the historical information contained in this release, this release contains materials and statements related to future business, financial performance, future events and/or developments involving CPSI which constitute forward-looking statements. The matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to, CPSI’s ability to develop and market new products, to retain and attract key employees, to obtain regulatory clearances and approvals for its products, to effectively react to other risks and uncertainties, such as fluctuation of quarterly financial results, contract and grants acquisition, reliance on third party manufacturers and suppliers, litigation or other proceedings, economic, competitive, governmental impacts, whether pending patents will be granted or defendable, validity of intellectual property and patents, the ability to license patents, the ability to commercialize developmental products, competition from existing and new products and procedures and CPSI’s ability to raise the capital that is required to accomplish the foregoing.

Contacts
CPSI Biotech Contact:
John M Baust, Ph.D., President & Lead Scientist
Kristi Snyder, Ph.D., Director of Operations
607-687-8701
contact@cpsibiotech.com

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John Baust
CPSI Biotech

http://www.cpsibiotech.com

You can see the original version and more on PRLeap here: http://www.prleap.com/pr/242014/two-us-patents-issued-on-the-supercritical

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