TORONTO, Oct. 10 /CNW/ - Elastin Specialties Inc., a Toronto-based
biotechnology company is pleased to announce it has formalized an Agreement
with Novozymes A/S of Denmark, one of the largest protein manufacturers in the
Elastin Specialties Inc. holds Intellectual Property around the
production and use of proteins based on human elastin sequences and proteins
of similar type. Key attributes of these proteins is that they self-assemble
and can be used to make a variety of biomaterials, useful as coatings or as
composite materials. Key applications are being pursued in cardiovascular and
orthopedic areas to be followed by cosmetic and urological uses. Specifically,
animal studies are presently underway to demonstrate the value of the elastin
materials for joints and for spinal discs.
Novozymes possesses considerable expertise in the production of proteins
and is recognized as a major player at the multi-national level. Novozymes
role in the venture will be to scale and eventually manufacture finished
protein for sale to third-party entities while Elastin Specialties Inc. will
continue to pursue and expand uses at the Research and Development stages.
Both will combine their resources in identifying and securing commercial
parties to market the end products.
"These products will satisfy largely un-met needs and will certainly
offer significant competitive advantages," said Dr. Steven Rothstein,
President of Elastin Specialties Inc. "The size, resources and capability of a
partner such as Novozymes will allow us to move such products from early
development to market with the assurance of an experienced manufacturing
partner." Hans Ole Klingenberg, Head of Novozymes' Biopolymer unit adds, "This
is an exciting opportunity for Novozymes to potentially expand our biopolymer
Elastin Specialties evolved out of research at The University of Toronto
and The Hospital for Sick Children and has supported and licensed the
development of a broad patent portfolio covering the basic molecular structure
of the polypeptides necessary for the formation of fibers and membranes and
the use of these materials in a broad range of applications.
For further information:
For further information: Dr. Steven Rothstein at (519) 824-4120, x