DURHAM, N.C., Dec. 19, 2019 /PRNewswire/ -- KNOW Bio, LLC., ("KNOW Bio" or the "Company"), a North Carolina developer of nitric oxide-based medical technology and related biotechnology companies, announced today that the Company has acquired Clinical Sensors, Inc, ("Clinical Sensors") to develop the Company's technology in the field of diabetes management. Immediately after the acquisition, Clinical Sensors was renamed Diabetic Health, Inc. ("DHI").
Neal Hunter, Managing Director and CEO of KNOW Bio noted, "Continuing our strategy to expand our technology into therapeutic areas where nitric oxide can be beneficial, the acquisition of Clinical Sensors allows KNOW Bio to take advantage of the work already done by their team while adding distinct capabilities for their on-patient management systems. The team at DHI now has the resources to complete the development of their technology with our proprietary nitric-oxide chemistries. Our shared resource model empowers drug and device developers to focus on what is important to drive nitric oxide technology into the hands of needy patients and ultimately drive value for our shareholders."
Philippe Chemla, Ph.D, MBA, President and COO of DHI and former CEO of Clinical Sensors stated, "KNOW Bio is the leading developer of nitric oxide releasing materials and the natural partner for our team as we create advanced diabetes management tools for the more than 350 million people worldwide who fight to manage diabetes daily. The KNOW Bio nitric oxide release technology will enable us to develop a new generation of advanced coatings for patient management systems to mitigate the foreign body response in continuous glucose monitoring sensors (CGM) and insulin infusion sets. The stability and biocompatibility of these sensors and insulin infusion sets is incredibly important to the daily lives of patients and advancing the technology in this space will have a significant impact on the $20 billion industry."
"Not only are the materials ideally suited for applications within the diabetes management space, but we will build upon KNOW Bio company successes in other therapeutic areas. As an example, we will leverage advances in anti-infective solutions in applications for treatments for diabetic foot ulcers," continued Dr. Chemla. "Our mission to help diabetic patients maximize the potential of on-patient management systems will benefit the estimated 30 million patients living with this disease."
KNOW Bio's Chief Medical Officer, Dr. Stephen DeCherney commented, "This sensor technology is part of the continuing revolution in diabetes care. It was only about 30 years ago that home glucose monitors were introduced requiring a finger puncture and it was only with the publication in 1993 of the results of the Diabetes Control and Complications Trial that we finally knew that controlling blood glucoses reduces the risk of the complications of diabetes. Advancing the sensors which read blood sugar levels would be a huge advance for patients afflicted with diabetes, which is currently about 1 in 12 people in the US." Dr. DeCherney formerly held a number of positions at Quintiles Transnational Corp. including President of Global Clinical Research and Chief Innovation Officer.
KNOW Bio is based in the Research Triangle Park area of North Carolina and is a nitric oxide life science incubator for operating companies utilizing leveraged drug development models using small teams with high quality service contractors and suppliers.
About Neal Hunter
Neal Hunter, Managing Director and CEO of KNOW Bio, has a 25-year track record of successfully raising capital for and building technology companies in both the public and private markets beginning as a Co-founder of Cree, Inc. Mr. Hunter served multiple roles at Cree, including as the public company CEO and Chairman from 1994 to 2001 and then Chairman until 2005. He was also instrumental in the creation and start-up of LED Lighting Fixtures, Inc. which he co-founded in 2005 to accelerate the use of LEDs in general illumination applications and sold in 2008 for over $100M. In total, Mr. Hunter has been either co-founder, founder, co-founding investor or founding investor in over ten significant start-up ventures in the areas of semiconductor materials and devices, aesthetic materials, software, commercial and residential real estate, LED lighting systems and life sciences.
About Philippe Chemla
Philippe Chemla has over 30 years of international experience in technology platform commercialization, global business development, alliance management, business consulting and R&D management related to biomarkers and life sciences products and services (Metabolon, Syngenta, Novartis, Ciba, Diosynth/Organon, Ampfuul Consulting). Prior to joining Clinical Sensors as CEO, Philippe served as Vice President of Business Development at Metabolon. Philippe received his Ph.D. in Chemistry from the University Louis Pasteur (Strasbourg, France) and his MBA from the Duke's Fuqua School of Business.
About Stephen DeCherney, MD, MPH
Stephen DeCherney is both a Director of KNOW Bio and serves as the company's Chief Medical Officer in addition to being a Professor of Medicine specializing in Endocrinology. Prior to his faculty clinical appointment, Dr. DeCherney served in a number of positions at Quintiles Transnational Corp (now IQVIA) including President of Global Clinical Research and Chief Innovation Officer. Prior to Quintiles, he held research positions at the National Institute of Health as well as a number of management roles in the Christiana Care Health Systems in Wilmington, Delaware until he joined PRA International. In addition to serving on several Boards of Directors for companies in the pharmaceutical and biotechnology markets, he has been advisor to several medical colleges and hospitals, including at the University of London, and the University of Delaware. Dr. DeCherney has been the author or co-author of over 100 publications.
About KNOW Bio, LLC
KNOW Bio, LLC is a life science incubator focused on using its extensive intellectual property developed internally as well as licensed patents and applications in the field of nitric oxide across a vast majority of therapeutic applications to redefine the standard of care in a number of diseases and conditions. Corporate strategy involves forming subsidiaries to focus on specific diseases and conditions, assemble teams of experienced personnel in each and incentivize them to succeed by granting them equity in their respective subsidiary, with KNOW Bio retaining controlling ownership of each unless and until an appropriate opportunity for a subsidiary sale, IPO or other financing makes sense. Vast Therapeutics, Inc. and PhotonMD, Inc. are two companies that have emerged from the KNOW Bio platform.
About Diabetic Health, Inc (formerly Clinical Sensors, Inc.)
Diabetic Health, Inc. is a development-stage company based in Research Triangle Park, N.C. committed to pioneering diagnostic devices and coatings that harness the physiologic properties of nitric oxide to improve diabetic self-management. For more information visit www.diabetichealthinc.com.
Forward-looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: risks associated with the drug development process; reliance on key personnel; the early stage of our business and our need to raise additional capital to complete development of our drug candidates; competition; and other risks described in other Company press releases and presentations. KNOW Bio no Diabetic Health assume no obligation and does not intend to update these forward-looking statements, except as required by law.
Media Contact:
Darlene Dendy, Director of Administration
ddendy@knowbiollc.com
(919)270-5789
Investor Contact:
John Oakley, Chief Financial Officer
joakley@knowbiollc.com
(919)939-7715
View original content to download multimedia:http://www.prnewswire.com/news-releases/know-bio-announces-acquisition-of-clinical-sensors-inc-300977658.html
SOURCE KNOW Bio, LLC
ncG1vNJzZmilkae4psDSZ5muq5mjsrS%2FyKeqopyVp3uku8xopZ6vo2TAtbvCpKpoo56kxG6uyKhkmqaepMKvr8SsZJqboaq2tLXToqanZZ%2BbeqS4yKegnJmcYsCmutKoqaxlmaOwbn2Pa29wb2ZlhHU%3D