Nuvo's High Throughput Experimentation Platform Selected as 2009 Edison Award Finalist
February 24, 2009
MISSISSAUGA, ON, Feb. 24 /CNW/ - Nuvo Research Inc. (TSX: NRI), a Canadian drug development company focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies, today announced that Nuvo's INSIGHT™ platform, developed by its San Diego based research and development subsidiary, fqubed, Inc., has been selected as one of four finalists in the Science and Medical category for the prestigious 2009 Edison Best New Product Awards™. The awards honour excellence in new product development, marketing, and innovation. Finalists in other categories include the Apple iPhone and Procter & Gamble's Olay Regenerist®. Skin-based or transdermal delivery is a sought-after mode of therapeutically administering molecules through the skin and into the body. Skin is a challenging barrier and measuring the effectiveness of multiple formulations' ability to pass through the skin is a prerequisite to developing optimized transdermal and topical treatments. INSIGHT is Nuvo's high throughput experimentation ("HTE") skin permeability screening platform that is 100-times faster than the traditional method of measuring the permeabilizing effect of a drug formulation. INSIGHT's key technological innovation is that it measures skin permeabilization indirectly, via changes in the skin's electrical impedance caused by application of a formulation. This dramatically speeds the measurement process and has allowed fqubed to discover extremely effective molecular penetration enhancer systems. "This nomination is indicative of the cutting-edge research and development that we are doing at Nuvo Research," said John M. Newsam, fqubed's President and Managing Director. "INSIGHT is being used to accelerate the development of Nuvo's own topical and transdermal drug pipeline and also to open doors with potential partners seeking to co-develop therapeutic products using our HTE skin permeability screening platform." The Edison Best New Product Awards, sponsored this year by Google, The Nielsen Company and Steelcase, focus on new products and services that excel in marketplace innovation, marketplace success, technological innovation, market structure innovation, and societal impact. These criteria align with Edison's own innovation best practices, called the Five Competencies of Innovation™. Gold, Silver and Bronze winners will be announced at an Awards Gala on April 1, 2009 at the Computer History Museum in Mountain View, California. For more information about The Edison Awards, visit www.edisonawards.com. About Nuvo Research Inc. Nuvo is focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies. Nuvo's lead product is Pennsaid, a topical non-steroidal anti-inflammatory drug, used for the treatment of osteoarthritis. Nuvo intends to leverage its skin-penetrating technologies to create a portfolio of topical and transdermal products targeting a variety of indications. Nuvo Research Inc. is a publicly traded, Canadian pharmaceutical company headquartered in Mississauga, Ontario, with manufacturing facilities in Varennes, Québec and Wanzleben, Germany and a research and development center in San Diego, California. For more information, please visit www.nuvoresearch.com. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but caution that these assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report, as well as in the Company's Annual Information Form for the year ended December 31, 2007. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether a result of new information or future events, except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company's ongoing quarterly filings, annual report and Annual Information Form and other filings found on SEDAR at www.sedar.com.
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For further information: about Nuvo, please contact: Media and Investor Relations, Adam Peeler, The Equicom Group Inc., Tel: (416) 815-0700 x225, email: [email protected]