Ambulero Finishes Second for Prestigious Cade Prize
Company Voted Top Health Care Company in Competition
MIAMI--(BUSINESS WIRE)--Ambulero, Inc., a Miami, Florida-based biotechnology company, a spinout from the University of Miami Miller School of Medicine (“Ambulero” or the “Company”) developing new gene and cell therapy treatments for severe vascular disease, finished second for the prestigious Cade Prize out of 85 technology and healthcare companies developed from university technology in Florida, Georgia, and Alabama. The Company was voted the top health care company in the competition for its gene therapy technology, AMB-301 for an orphan disease, Buerger’s Disease and for other vascular disorders.
AMB-301 is a first-in-class gene therapy vector encoding E-selectin. Over a decade of basic research suggests providing E-selectin to damaged blood vessels can promote angiogenesis and improved limb and muscle cell function. The Company’s first gene therapy indication, Buerger’s Disease, is a debilitating vascular disease that can lead to severe limb damage and amputation, often in young patients who are chronic smokers. There are no effective treatments and existing therapies are largely ineffective. AMB-301 is a promising gene therapy candidate for enhancing blood vessel formation, restoring tissue integrity, and potentially eliminating need for amputation.
Randy Berholtz, one of the co-founders of the Company and its Chair, and Zhao-Jun Liu, M.D., Ph.D., the Company’s Chief Scientific Officer and Professor and Director of the Vascular Research Laboratory at the Department of Surgery at the University of Miami Health System, presented Ambulero to the Cade Prize Committee in Gainesville, Florida.
“We are very excited about our great reception during the Cade Prize competition. The judges and the audience really understood the novelty and great promise of our gene therapy approach for Buerger’s Disease and other vascular disorders to bring much needed relief to these patients,” Mr. Berholtz stated.
“The judges were very encouraged that the FDA has provided AMB-301 with ‘Orphan Status’ for the treatment of Buerger’s Disease and recently reviewed our proposed first-in-man Phase 1/2a clinical trial, non-clinical pharmacology, toxicology and manufacturing details with positive pre-IND feedback via a type B meeting,” said Dr. Liu.
“AMB-301 could transform the landscape of vascular therapy in a relatively short time for patients with devastating peripheral arterial occlusive diseases,” said Omaida C. Velazquez, M.D., FACS, the Company’s Chief Medical Officer and Chair/Surgeon-in-Chief of the DeWitt Daughtry Family Department of Surgery, Jackson Memorial Hospital, and the University of Miami Health Systems. “And then, Ambulero will be able to continue the development of this platform technology for several other disorders where vascularized tissue regeneration may be the underlying main clinical need,” she continued.
The Cade Prize was created in 2009 and is given annually to top companies who have been spun out of Florida, Georgia, and Alabama universities. The prize was named for Robert Cade, M.D., who was a Professor of Medicine at the University of Florida Medical School and the inventor of the sports drink, Gatorade. It is given by the Cade Museum for Creativity and Invention. Ambulero was nominated by the University of Miami for the award.
Ambulero is a privately held biotechnology company advancing a new platform of cell and gene therapies to treat serious vascular diseases. The Company’s technology is based off the research of Drs. Velazquez and Liu , and Ambulero is currently sourcing new investors to support development of its novel gene and cell therapy pipeline. Visit www.ambulero.com for more information.
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “expect,” and “intend,” among others. These forward-looking statements are based on Ambulero's current expectations and actual results could differ materially. As with any new cell and gene therapy under development, there are significant risks in the development, regulatory approval, and commercialization of new products. Ambulero does not undertake an obligation to update or revise any forward-looking statement. All Ambulero's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.
Robert L. Buchanan
Chief Executive Officer