Advanced BioInformatics GmbH Secures Exclusive Worldwide Intellectual Property Rights to Develop Novel Cardiac Rhythm Management Technologies -…

May 04, 2020 08:00 ET | Source: Advanced BioInformatics GmbH

FRIEDBERG, Germany and BAYERN, Germany, May 04, 2020 (GLOBE NEWSWIRE) -- Advanced BioInformatics GmbH, a medical technology company developing solutions that improve long-term outcomes for people with cardiac arrhythmias, today announced that the company has secured exclusive worldwide intellectual property rights from the University of Utah Research Foundation to develop novel cardiac rhythm management solutions based on proprietary low-energy pacing technology.

We founded this company to potentially address a significant unmet medical need that persists for the approximate 500,000 people globally who are implanted with cardioverter defibrillators (ICDs) every year to treat the onset of life-threatening cardiac arrhythmias, commented Volker Brand, Managing Director and Co-Founder of Advanced BioInformatics. Current defibrillator technology, which has remained largely unchanged over the past 20 years, employs high-energy electrical shocks that can cause tissue damage and other serious and unwanted side effects, leading to increased morbidity and mortality. These shocks can also cause severe pain and result in mental distress and a diminished quality of life among patients. We believe an unmet medical need exists with these patients who desire a better therapeutic option, and we plan to work diligently toward that goal.

We are excited to enter into this partnership with Advanced BioInformatics, said Keith Marmer, Executive Director and Associate Vice President for Technology & Venture Commercialization at the University of Utah. It often takes time for emerging companies to develop a global presence as they grow. As an international company, Advanced BioInformatics is off to a terrific start.

We are pleased with the indications of interest that we are receiving from strategic partners and highly-regarded institutional investors, noted J. Todd Derbin, Managing Director and Co-Founder of Advanced BioInformatics. We believe this level of interest offers early validation of our technology and our development plan. With the average cost of an ICD ranging from $35,000 to $50,000, we are working to address a large global market opportunity that we estimate to be between $17.5 billion and $25.0 billion. Our proprietary technology, which is based on low-energy His bundle pacing for pain-free defibrillation, represents a potential paradigm shift in the treatment of cardiac arrhythmias. We look forward to efficiently advancing our pre-clinical work and initiating formal clinical studies as expeditiously as possible while in parallel exploring partnering opportunities with leading defibrillator manufacturers around the world.

ABI has applied for non-dilutive funding to support product and clinical development.

About Advanced BioInformatics GmbH

Founded in January 2019 by J. Todd Derbin and Volker Brand, Advanced BioInformatics GmbH leverages proprietary defibrillation technology to develop next-generation cardiac rhythm management solutions to patients with significantly fewer complications and side effects than current standards of care.

Contacts:

J. Todd Derbin Managing Director and Co-Founder +1 307 690-4074 (M) derbin.jtodd@advbioinfo.com

Volker Brand Managing Director and Co-Founder +49 1725945000 (M) brand.volker@advbioinfo.com

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Advanced BioInformatics GmbH Secures Exclusive Worldwide Intellectual Property Rights to Develop Novel Cardiac Rhythm Management Technologies -...