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Otomagnetics Awarded a $2.3M Fast Track NIH/NCI SBIR Contract to Develop a Pediatric Cancer Drug Delivery System to Prevent Hearing Loss From Chemotherapy Regimens

15:55 EDT 12 Oct 2017 | PR Web

The funds will be used to develop Otomagnetics delivery system for magnetically delivering otoprotective drugs to the cochlea.

Rockville, Maryland (PRWEB) October 12, 2017

Information about the technology:

Otomagnetics has invented a magnetic drug delivery system that we intend to develop to enable prevention of a major side effect of chemotherapy in children. Cisplatin and carboplatin chemotherapy regimens can lead to severe hearing loss, especially in pediatric patients. For cisplatin, hearing loss is FDA listed on-label as a dose limiting toxicity. Hearing loss in kids has a dramatic impact on their ability to communicate and learn and is associated with substantial cognitive and speech development deficits. Our drug delivery technology enables topical delivery of otoprotective therapy to the cochlea, and in animal studies has been shown to protect hearing from cisplatin regimens. Topical and non-invasive magnetic delivery of a small dose of otoprotective steroid to the cochlea would have no risk of interrupting the systemic anti-tumor action of chemotherapy, and in some patients could remove limits on administering needed chemo doses due to induced severe hearing loss. Funding support shall be used to progress our delivery system through FDA milestones, so it can reach patients.

Our device acts like a syringe, with the needle replaced by non-invasive magnetic forces that safely and effectively deliver therapy to difficult targets, including to the cochlea.

“We are honored and excited to be working closely with the National Institutes of Health to address a pressing clinical need. There should not have to be a choice between effective chemo and lifelong hearing loss. Our technology has the potential to allow treatment by chemotherapy without the attendant risk of hearing loss.” – Dr. Benjamin Shapiro, President and CEO, Otomagnetics.

About Otomagnetics:

Otomagnetics is developing a non-invasive method to effectively deliver drugs and other therapeutic payloads to hard-to-reach targets in the body, to ear compartments, to the eye, and into the skin.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/10/prweb14778666.htm

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