AurimMed Pharma, Inc. and Hovding Named First Recipients of Award and $25,000 Prizes
LANDOVER, Md., July 11, 2013 /PRNewswire-USNewswire/ -- The Epilepsy Foundation, a national organization dedicated to serving all people with seizures, today launched the Epilepsy Innovation Seal of Excellence (SEAL), an award that recognizes groundbreaking and innovative product development programs deemed by the Foundation as deserving of significant and urgent support. The launch of the SEAL is part of the Foundation's strategic mandate to recognize critical advancements in the field of epilepsy. The SEAL is designed to facilitate access to funding and resources that will carry the recipient's work through proof of concept (PoC) and beyond, which typically costs from $1 million to $5 million dollars.
The award is given after intense scrutiny by the Scientific and Business Advisory Boards of the Epilepsy Foundation's Epilepsy Therapy Project (ETP) Initiative. ETP is focused on identifying and accelerating the most innovative epilepsy products in development. The SEAL includes a prize of $25,000 and the privilege of using the Foundation's Epilepsy Innovation Seal of Excellence in advancing their efforts (http://www.epilepsy.com/etp/seal_of_excellence).
The Epilepsy Foundation is honored to announce the recipients of the first two SEAL awards:
- AurimMed Pharma of Park City, Utah is advancing an exciting anti-seizure drug AMP-X-0079 that has already demonstrated promising early-stage data in the National Institute of Neurological Disorders and Stroke (NINDS) Anticonvulsant Screening Program. The company is currently seeking $1.9 million to prepare AMP-X-0079 for an Investigational New Drug (IND) Application with the U.S. Food and Drug Administration, taking this program into human clinical studies. (www.aurimmed.com)
- The second SEAL recipient is Hovding of Malmo, Sweden for their revolutionary airbag helmet. The product was originally designed to protect cyclists, but also has the potential to offer significant safety features for people with epilepsy. The goal for Hovding is to obtain $4 million to adapt the bicycle device for falls during seizures and to make the airbag reusable. (www.Hovding.com)
"When it comes to money spent on research and innovation, the epilepsy community is tremendously underserved -- especially in comparison to medical conditions of similar or smaller prevalence," said Roger J. Porter, MD, Chief Scientific Officer of the Epilepsy Foundation. "With this SEAL, we have recognized innovative projects in urgent need of funding and resources."
The Epilepsy Innovation Seal of Excellence will be awarded biannually by the Epilepsy Foundation. Companies, investigators and researchers engaged in product development are encouraged to share research and product development programs of high merit and proof of concept with the Foundation (http://my.epilepsy.com/etp/seal_of_excellence/about).
"The Epilepsy Innovation Seal of Excellence represents our commitment to advancing important new products for the betterment of persons with epilepsy worldwide," said Philip M. Gattone, President and CEO of the Epilepsy Foundation. "Our first prize winners were selected for their potential to improve the quality of life for people with epilepsy in a timeframe that matters. I hope support from the Epilepsy Foundation helps mobilize funding from other investors, government agencies and industry participants to make these important innovations real options for people with epilepsy. "
"The Epilepsy Therapy Project's mandate is to accelerate pioneering epilepsy research, especially with near-term potential, and we recognize the need to assist in finding resources for critical but expensive innovations," said Warren Lammert, Chairman of the Board of the Epilepsy Foundation. "The Epilepsy Innovation Seal of Excellence is an expression of our commitment to build the Epilepsy Foundation as a leader in driving new therapies and other innovations."
When a person has two or more unprovoked seizures, they have epilepsy, which affects nearly three million people in the United States and 65 million people worldwide. This year, another 200,000 people in our country will be diagnosed with epilepsy. Despite all available treatments, four out of 10 people with epilepsy continue to experience uncontrolled seizures while many more experience less than optimal seizure control.
About the Epilepsy Foundation
The Epilepsy Foundation, a national non-profit with affiliated organizations throughout the United States, has led the fight against seizures since 1968. The Foundation's goals are to ensure that people with seizures are able to participate in all life experiences; and to prevent, control and cure epilepsy through services, education, advocacy and research, so not another moment is lost to seizures.
To learn more about epilepsy, visit www.epilepsy.com. 'Like' the Epilepsy Foundation on Facebook at www.facebook.com/epilepsyfoundationofamerica and follow us on Twitter at www.twitter.com/epilepsyfdn
SOURCE Epilepsy Foundation