SCOTTSDALE, AZ--(Marketwired - February 28, 2017) - Lattice Biologics Ltd. (TSX VENTURE: LBL) (LBLTF) ("Lattice Biologics" or the "Company") is pleased to announce that it is part of a new public-private initiative, the Advanced Regenerative Manufacturing Institute ("ARMI").
ARMI will receive approximately $80 million from the federal government, which will be combined with more than $200 million in non-federal cost share, to establish the Advanced Tissue Biofabrication Manufacturing USA Institute. Headquartered in Manchester, New Hampshire, this new Institute brings together a consortium of nearly 100 partner organizations from industry, government, academia and the non-profit sector to develop next-generation manufacturing processes and technologies for life-saving cells, tissues and organs.
This effort will provide support to help bridge the gap between basic/early research and product development by advancing and scaling critical biofabrication technologies, and will provide shared assets to help entities access cutting edge capabilities and equipment.
In collaboration with key individuals at ASU Biodesign in Tempe, Arizona, Lattice Biologics is developing products, which include the use of scaffolds derived from human tissue that can 1) support ingrowth of tissue progenitor cells (notably, stem cells), 2) direct and preserve the phenotypes of engrafted cells and 3) enhance healing times and improve patient outcomes. Underlying these efforts is the use of ECM (extracellular matrix) secreted by stem cells and/or harvested from various tissues including muscle, adipose and placenta, to develop game-changing technologies in the field of regenerative medicine.
As an emerging leader in the field of cellular therapies and tissue engineering, Lattice Biologics will play an important role in ARMI's mission to develop innovative manufacturing capabilities by sharing strategic research and development efforts, provide source biomaterial for testing and bring together cross-disciplinary research players in the biomedical and academic communities.
About the Biodesign Institute at Arizona State University:
The ASU Biodesign Institute plays a critical role in advancing the research mission of Arizona State University; specifically, to conduct use-inspired research, fuse intellectual disciplines and value entrepreneurship. The Biodesign Institute is a hub of 21st century innovation, with the Biodesign Institute's convergent technologies and fields of research focusing on biomedicine and health outcomes, sustainability and security.
Headquartered in Manchester, New Hampshire, ARMI is the 12th Manufacturing USA Institute. It brings together a consortium of nearly 100 partners from across industry, government, academia and the non-profit sector to develop next-generation manufacturing processes and technologies for cells, tissues and organs. ARMI will work to organize the current fragmented domestic capabilities in tissue biofabrication technology to better position the U.S. relative to global competition. For more information on ARMI, please visit www.ARMIUSA.org.
Lattice Biologics Ltd.
Chief Executive Officer
Telephone No: (480) 563-0800
About Lattice Biologics Ltd.:
Lattice Biologics Ltd. is an emerging precision medicine leader in the field of cellular therapies and tissue engineering, with an emphasis on bone, skin, and cartilage regeneration. As a manufacturer of the highest quality allografts, Lattice is focused on next generation products to improve surgical outcomes.
Versatile allografts for a variety of surgical applications:
- Enhancing fusion in spine surgery
- Enhancing breast reconstruction post mastectomy for breast cancer patients
- Sports medicine indications, including ACL repair
- Promotion of bone regeneration in foot and ankle surgery
- Promotion of cranial healing following neurosurgery
- Enhancing wound repair in burn victims
- Subchondral bone defect repair in knee and other joint surgeries
The Company is currently exploring new technologies in regenerative and personalized medicine:
- All natural amniotic fluid supplement for arthritic joints
- Personalized Cancer Diagnostics - revolutionary high-throughput precision chemotherapy screening
Lattice Biologics operates headquarters, laboratory and manufacturing facilities in Scottsdale, Arizona as well as offices in Toronto Ontario. The Company maintains all necessary licensures to process and sell its tissue engineered products within the U.S. and internationally. This includes Certificates to Foreign Governments from the U.S. Food and Drug Administration (FDA) and registrations for 29 countries, which allow the export of bone, tendon, meniscus, ligament, soft tissue, and cartilage products outside of the U.S.
Lattice Biologics (TSX VENTURE: LBL) (LBLTF) became a publicly traded company on January 4, 2016.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the 'safe harbour' provisions of Canadian securities laws. All statements herein, other than statements of historical fact, are to be considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential", "future", "expected", "could", "possible", "goal", "intends", "will" or similar expressions. Forward-looking statements in this news release include, without limitation: information pertaining to the Company's strategy, plans, or future financial performance, such as statements with respect to participation in the ARMI, future revenues or products, and other statements that express management's expectations or estimates of future performance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lattice to be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management as of the date such statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions that could prove to be incorrect, include, but are not limited to: that market prices will be consistent with expectations, the continued availability of capital and financing, and that general economic, market and business conditions will be consistent with expectations. The forward-looking statements are not guarantees of future performance. We disclaim any obligation to update or revise any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.