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February 16, 2005
BOZEMAN, MT. and San Diego, CA.—American BioHealth Group (ABG) and
TechLink announce the acquisition by American BioHealth Group of
another exclusive license to new patented approaches developed by the
US Navy and the University at Buffalo, The State University of New York
(UB). This exclusive license covers the use of compounds for the
treatment and/or prevention of certain hearing disorders and
complements ABG’s originally licensed technology by adding new
synergistic agents to its growing library of promising compounds.
American BioHealth Group specializes in development of hearing disorder
drugs in collaboration with various medical and academic institutions.
In 2001, ABG was awarded an exclusive license from the US Navy and UB
that addresses various hearing disorders. The company introduced The
Hearing Pill™ (www.thehearingpill.com) as a direct result of the
commercialization of that first license.
Concerning the award of the
new license, David Karlman, Chairman and Chief Executive Officer of
American BioHealth Group stated, "As American BioHealth Group expands
its portfolio of patented technologies, it is fulfilling its mission to
become a leader in developing cutting-edge technology that will address
hearing related disorders using safe and unique pharmaceutical
approaches." The company is nearing completion of an extensive double
blind, placebo controlled, 550+ patient clinical trial and is expected
to mark an important milestone toward introducing the first pill
clinically proven to prevent hearing loss. Other clinical trials are
currently underway as well and more are planned in 2005. “Our research
plan is robust and we are confident in our direction and choice of
compounds. Our partnering relationships with the Office of Naval
Research, the Naval Medical Center San Diego, UB, TechLink and others
have helped to enable ABG to pursue this exciting path,” Karlman said.
“We look forward to our continued relationship with these, and the
other world class institutions, as we develop novel treatments to this
very important area of medicine.”
Speaking about the acquired technology, Mark Mugerditchian, President
and Chief Operating Officer of American BioHealth Group said, “Our
family of intellectual property is exciting. All of our acquired
technology is on sound scientific footing having been demonstrated in
the laboratory as being excellent candidates for clinical trials.”
The seriousness of sensorineural hearing loss is reflected in the cost
and number of sufferers:
- Reduced hearing capacity affects 39 million
Americans and costs the nation billions of dollars per year. (Center
for Disease Control)
- At present exposure limits, one in four will develop a permanent
hearing loss as a result of their occupational exposure to noise
hazards. (National Institute of Occupational Health and Safety)
- Each year the DoD spends $300 million on hearing loss compensation.
(Deputy Under Secretary of Defense, Science and Technology)
- Sensorineural hearing loss is one of the most prevalent disabling
conditions in the United States. It can harm an individual's physical,
cognitive, behavioral, and social function and is caused by a problem
in the cochlea or the auditory nerve, parts of the ear that help sound
impulses reach the brain. (National Institute of Hearing)
- 22,000 new hearing loss claims are filed annually for the Navy,
Marine Corps and Air Force. (Air Force Research Laboratory)
- Noise induced hearing problems costs the Navy some $69 million
dollars a year. (Office of Naval Research)
About American BioHealth Group
American BioHealth Group LLC (www.abgpharma.com), a clinical stage
pharmaceutical company located in San Diego, California, is developing
proprietary hearing loss technologies based using oral dose such as
pills or capsules. The company is marketing The Hearing Pill™
(www.thehearingpill.com) primarily to individuals wishing to prevent
hearing loss and those seeking treatment after experiencing acute
injury but before permanent injury is established. www.abgpharma.com
and www.thehearingpill.com.
CONTACTS:
Nick Zelver
TechLink
(406) 994-7706
nzelver@montana.edu David Karlman, Chairman and Chief Executive Officer
American BioHealth Group
(858) 613-0748
dkarlman@abgpharma.com
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