EDGE THERAPEUTICS AND SURMODICS COLLABORATE TO DEVELOP A DRUG DELIVERY TECHNOLOGY

July 10, 2010 (Marketwire)

Edge Therapeutics Inc., a specialty pharmaceutical company focused on improving the delivery of life-saving medicines to the brain announce today that it has entered into a feasibility agreement with SurMoics, Inc (NASDQ: SRDX), a leading provider of drug delivery and surface modification technologies to the healthcare industry. 

According to the agreement, SurModics will develop a novel biodegradable, site-scientific, sustained-release formulation (NimoGel ™, EG-1961) for treatment of delayed complications of ruptured brain aneurysms or traumatic brain injury (TBI). NimoGel, Edge's lead drug, is a combination of the FDA-approved drug nimodipine, a calcium channel blocker, and a proprietary biodegradable delivery system designed to be injected delivered directly into the subarachnoid space around the brain.

"The need for effective ways to improve treatment of cerebrovasular bleeding events has never been greater than it is today," said J. Paul Muizelaar, MD, PhD, Professor and Chair of the Department of Neurosurgery at the University of California at Davis and a member of Edge Therapeutics' Scientific Advisory Board.

SurModics has completed a major facility expansion at its site in Birmingham, Alabama.  The agreement with Edge Therapeutics anticipates the use of this facility for the production of clinical materials and ultimately for commercial supply.

The Enterprise Development Center Receives International Honor

August 11, 2010

NEWARK, N.J. – The National Business Incubation Association has awarded the NBIA Soft Landings International Incubator designation to the Enterprise Development Center, a business incubator operated and sponsored by the New Jersey Institute of Technology in Newark.

Through its Soft Landings program, NBIA recognizes incubation programs that are especially capable of helping nondomestic companies enter the incubator's domestic market. The Enterprise Development Center was selected for the program because of its slate of business services for nondomestic firms and its demonstrated success at helping these firms enter the U.S. market, said Randy Morris, NBIA director of membership.

Business incubation programs like the Enterprise Development Center catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. Incubating nondomestic firms takes more than the standard set of incubation services, however. "The Soft Landings designation recognizes an incubator's focus on welcoming nondomestic firms into its domestic market with translation services, help cutting through governmental red tape, access to capital, domestic market research and other programs," Morris said.

The Enterprise Development Center accentuates its standard incubation services with assistance tailored specifically to nondomestic firms, including introductions to key contacts in the United States, help with intellectual property protection, immigration and visa assistance, and help finding suitable housing.

A panel of experienced incubator managers evaluated the Soft Landings applications. According to Morris, the judges were impressed with the Enterprise Development Center’s unique support for nondomestic firms.

NBIA’s Soft Landings designations are effective for two years; programs must reapply biennially for continuing designation. There is no cap on the number of designations available in a given year or over time. The Enterprise Development Center joins just 15 other business incubation programs from around the world that have earned the designation since NBIA began the program in 2005.

The National Business Incubation Association is the world’s leading organization advancing business incubation and entrepreneurship support. For more information about the NBIA Soft Landings program, visit www.nbia.org/member_services/soft_landings/.