Advanced Plasma Products, Inc. Announces Receipt of Second Year SBIR Funding
LENOIR CITY, Tenn., Nov. 18, 2014 /PRNewswire/ -- Advanced Plasma Products, Inc. announced today that it has received second year funding for an SBIR Phase II grant provided by the National Institute of General Medical Sciences (NIGMS) of the National Institutes of Health (NIH). The two year grant award total is $2.2 million dollars.
Advanced Plasma Products, Inc. and its partners from the Center for Biofilm Engineering at Montana State University and the Graduate School of Medicine and the College of Veterinary Medicine of The University of Tennessee are developing and testing the Atmospheric Plasma Wound Applicator (APWA) device to treat chronic wounds. The APWA is designed to eliminate biofilm infection within a chronic wound and stimulate wound healing.
Chronic wounds are difficult to treat, generally take months or years to heal and come at a high cost to patients and healthcare providers. The global advanced wound care market is estimated to be $20.5 billion by 2020. There are approximately 50 million chronic wound cases reported annually, and the incidence of chronic wounds is expected to rise with the steady increase in adult and child obesity.
More information about the Atmospheric Plasma Wound Applicator can be found on our website including a presentation by Dr. Garth James, Director of the Medical Biofilm Laboratory at the Center for Biofilm Engineering, Montana State University. He presented his findings at the recent Industrial Meeting at the Center of Biofilm Engineering at Montana State University, Bozeman, MT.
The company expects to complete testing of the AWPA in animal models during the next six to nine months and has a goal of starting limited human trials by the end of 2015.
Research reported in this press release was supported by the National Institute of General Medical Sciences of the National Institutes of Health under award number R44GM099207. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
About Advanced Plasma Products, Inc.
Advanced Plasma Products, Inc. is an engineering and applied research company with expertise in developing atmospheric plasma products primarily for the healthcare and agricultural sector. It is a wholly owned subsidiary of Applied Science Products (OTC: APLD). More information is available at our website, advancedplasmaproducts.com or emailing [email protected] .
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
SOURCE Advanced Plasma Products, Inc.
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