AMPLICORE, INC. ANNOUNCES US FDA CLEARANCE OF FIRST INVESTIGATIONAL NEW DRUG APPLICATION (IND) AND ADDITION OF EXPERIENCED FINANCIAL LEADER TO BOARD

CINCINNATI, July 14, 2022 /PRNewswire/ -- Amplicore Inc., a Mason, OH-based, early-stage biopharmaceutical company specializing in the development of minimally invasive therapeutic solutions for musculoskeletal disorders, today announced that the Food and Drug Administration (FDA) has cleared their first application for AM3101, a novel treatment to promote healing of acute meniscal tears. The move enables the initiation of a Department of Defense-sponsored phase 1/2b clinical study in concert with the University of Cincinnati.

The FDA clearance marks the company's transition into a clinical stage company. In addition to AM3101, the company's pipeline also includes AM1101, which is being developed for osteoarthritis, and AM2101, with an indication to treat degenerative disc disease.

"We are very proud to announce the clearance for AM3101," said Chief Executive Officer/Founder Dr. James Lin, "Despite their commonality, service men and women have limited treatment options for acute meniscal tears. While suturing is often the most frequent approach, the failure rate for surgery is quite high due to the limited reparative capacity of much of the tissue. Our research has found that our Active Pharmaceutical Ingredient (API) provides pain relief and promotes regeneration of the meniscus, as well as several other structurally related joint tissues. In this way, the transition of Amplicore into a clinical stage company represents a critical development for all patients suffering from musculoskeletal conditions."

Amplicore also announced the addition of Steve Schrader to its advisory board. A high-impact financial leader with three decades of experience in corporate finance, Schrader has held Chief Financial Officer positions in a variety of industries, including an international auto glass company, a private healthcare company, a Fortune 500 public utility, and a NASDAQ-listed startup. Throughout his career, Steve has increased revenue and raised over $1.3 Billion in capital for companies. He has also taken two firms from start-up to manufacturing.

Schrader will advise on financial planning and fundraising efforts. "Amplicore is a leader in developing injectable therapeutics for musculoskeletal disorders. I am excited to join the board during this pivotal time as they work to close their Series A investment round, and I look forward to being a part of their future success."

Amplicore, Inc. is an early-stage biotech start-up company based on technology developed in the laboratory of CEO/Founder Dr. Chia-Ying (James) Lin at the University of Cincinnati. Headquartered in Mason, OH, the company is dedicated to developing novel injectable therapeutics to serve unmet medical needs for degenerative musculoskeletal disorders. Unlike current therapies that focus solely on palliative treatment, Amplicore is also taking a regenerative approach to treating these disorders. The company's lead products, AM3101, AM1101, and AM2101, address significant deficiencies in the current standard of care for the treatment of acute meniscal tear, osteoarthritis, and degenerative disc disease, respectively. Amplicore's overall mission is to translate scientific innovation into effective but minimally invasive products that can be easily delivered to patients.

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SOURCE Amplicore, Inc.