Lotus Tissue Repair, Inc. and USC Enter into Exclusive License Agreement for Recombinant Collagen Patent and Technology Portfolio

CAMBRIDGE, Mass. and LOS ANGELES, June 30, 2011 /PRNewswire/ -- Lotus Tissue Repair, Inc. and the University of Southern California (USC) today announced an exclusive license to the patent portfolio for the proprietary recombinant collagen Type VII (rC7) technology invented by USC professors of dermatology, Mei Chen, Ph.D., and David Woodley, M.D. This license includes their groundbreaking work in dystrophic epidermolysis bullosa (DEB), an orphan disease that causes devastating skin blisters, morbidity and early mortality, as well as their rC7 research in accelerated chronic wound healing and bone repair indications.

"Lotus Tissue Repair was founded because we believe our approach - and the strong scientific foundation built by Drs. Chen and Woodley - could dramatically transform the treatment landscape for patients with DEB," said Mark de Souza, Ph.D., founding chief executive officer of Lotus, which also announced $26 million Series A financing today. "We look forward to working closely with them as scientific founders of the company to advance this program and to explore broader applications of the rC7 technology for chronic wound healing."

Lotus Tissue Repair is advancing the licensed rC7 technology as the first and only protein replacement therapy in development for the treatment of DEB. There are currently no approved treatments for DEB, which results from mutations in the gene encoding collagen type VII. Future applications of the technology include treatments for dermatologic conditions in which rC7 may play an important role in accelerating chronic wound healing, such as diabetic foot ulcers, venous stasis ulcers and similar conditions.

"This is a great example of the top flight research taking place at USC, and an even better example of USC's dedication to ensuring that the amazing breakthroughs in our laboratories make it to the market where they can improve the lives of the people that need it most," explains Krisztina "Z" Holly, USC's Vice Provost for Innovation and Executive Director of the USC Stevens Institute for Innovation, which was responsible for promoting and licensing the technology. "This innovation has the potential to help patients all over the world that suffer from this horrible disease to live better and more complete lives. We are proud to have Lotus as the exclusive partner who will make that happen."

Dr. Chen and Dr. Woodley are the world leaders in rC7 technology - their research has been featured in the peer-reviewed scientific publications Nature Medicine and Molecular Therapy and preclinical studies to-date have demonstrated that the rC7 as a protein replacement therapy is potent, long-lasting and specifically homes to wounded skin in multiple preclinical models.

About Lotus Tissue Repair, Inc.

Lotus Tissue Repair, Inc. is developing its proprietary recombinant collagen type VII (rC7) technology as a treatment for dermatologic conditions in which rC7 may play an important role in accelerating chronic wound healing, such as diabetic foot ulcers, venous stasis ulcers and similar conditions. The company's lead program is the first and only protein replacement therapy for the treatment of dystrophic epidermolysis bullosa (DEB), a devastating orphan disease with no currently approved treatment options other than palliative care. Lotus Tissue Repair is a private company launched in 2011 by a proven team of biotechnology entrepreneurs, the world's leading experts in rC7 therapy for chronic skin wounds and Third Rock Ventures. For more information, please visit www.lotustissuerepair.com.

About USC Stevens Institute for Innovation

The USC Stevens Institute for Innovation (http://stevens.usc.edu) is a university-wide resource in the Office of the Provost at the University of Southern California that helps identify, nurture, protect, and transfer to the market the most exciting innovations from USC.  It also provides a central connection for industry seeking cutting-edge innovations in which to invest. As part of this role, the USC Stevens Institute manages the university's intellectual property portfolio stemming from its $560M annual research program. Furthermore, the USC Stevens Institute develops the innovator as well as innovations, through educational programs, community-building events, and showcase opportunities.

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SOURCE USC Stevens Institute for Innovation