March 5, 2002
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 - Richard McKinley)
- Noise induced hearing problems costs the Navy some $69 million dollars a year. (Office of Naval Research)
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SAN DIEGO, Calif.--American BioHealth Group, LLC has signed an exclusive license with the United States Navy for a new and novel pharmaceutical technology developed by the Naval Medical Center-San Diego for the prevention and treatment of hearing loss resulting from noise and chemical exposure. The technology, a family of unique antioxidant compounds, has been shown to effectively prevent and restore hearing loss in animal models exposed to various noise insults and cancer therapies. This was developed under the direction of Army Colonel Richard D. Kopke, MD, by researchers at Naval Medical Center-San Diego, and researchers at the State University of New York at Buffalo. This pharmaceutical development promises to aid tens of millions of Americans at risk for sensorineural hearing loss. "This is a seminal moment for the 39 million plus individuals that are at risk and suffer from hearing loss due to noise or chemical exposure," said David Karlman, Chairman and Chief Executive Officer of American BioHealth Group, LLC. "Dr. Kopke's team of talented researchers have committed years to the specific discipline of finding a cure for sensorineural hearing loss. This agreement further verifies the magnitude of their contribution and will result in needed pharmaceutical products to help tens of millions of Americans who today have no pharmaceutical treatment options for the prevention or restoration of sensorineural hearing loss. We are honored to be the organization chosen to work with the Naval Medical Research Center in San Diego, Dr. Kopke, and the Office of Naval Research to bring this exciting research to commercialization." Under the terms of the exclusive license agreement, American BioHealth Group will conduct clinical research, product development and have an exclusive license to market the products for the protection and restoration of hearing loss. The compounds that will be developed and commercialized by American BioHealth Group have already been approved by the FDA for other indications and have acceptable, well-proven safety profiles. Mark Mugerditchian, President and Chief Operating Officer states, "For the first time, physicians will be able to treat individuals suffering from sensorineural hearing loss using a pharmaceutical product that has gone through the rigorous safety and efficacy testing required by FDA. We believe that our first product, once approved, will be the first pharmaceutical product in the marketplace targeted at these indications. Our goal is to develop a series of products based on this technology, that addresses this significant unmet medical need." American BioHealth Group, LLC, is a pharmaceutical company that conducts research, development, sales, and marketing of health care products that improve the quality of life for patients suffering from chronic, or potentially chronic hearing disorders. The TechLink Center, a technology transfer organization located at Montana State University in Bozeman, Montana, assisted the Navy in the development of the American BioHealth Group license. The Department of Defense and NASA fund TechLink to link companies in Montana and the surrounding region with federal laboratories for joint research and technology transfer. Its purpose is to contribute to the success of both technology-based companies and key resource-based industries in the region. CONTACTS:
David Karlman, American BioHeath Group, LLC
11808 Rancho Bernardo Road, Ste. 151, San Diego, California 92128
Investor Relations Department
Industrial_Relations@ABGPharma.com
858-675-3600
Doug Sayers, Public Affairs Officer, Naval Medical Center San Diego
34800 Bob Wilson Drive, San Diego, CA 92134
619-532-9380
Nick Zelver, MSU TechLink
900 Technology Blvd., Ste. A, Bozeman, MT 59718
nzelver@montana.edu
406/994-7706
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