Full Press Release Details
WIXOM, Mich., July 9, 2008 (PRIME NEWSWIRE) -- Rockwell Medical Technologies, Inc. (Nasdaq:RMTI), a specialty pharma company focused on drug and device development in the renal market, reported today that it has added Dr. Richard Hurrell, an internationally recognized expert in the field of iron, with a specialty in SFP and its role in nutrition, to its Scientific Advisory Board (SAB).
Dr. Hurrell is the Professor for Human Nutrition and Head of the Laboratory of Human Nutrition at the Institute of Food Science and Nutrition, Swiss Federal Institute of Technology (ETH), Zurich, Switzerland. He specializes in the iron fortification of foods and has helped develop improved methods to fortify food products without causing adverse organoleptic changes. He was awarded the International Prize for Modern Nutrition for studies on the influence of food processing and preparation on food quality and is a member of the British Nutrition Society, the Swiss Nutrition Society and the European Academy of Nutrition. Dr. Hurrell is President of the Swiss Committee of International Union of Nutritional Scientists, the editor of the International Journal for Vitamin and Nutrition Research, and a member of the WHO Task Force on Food Fortification and the WHO International Micronutrient Advisory Group. He has been on the Editorial Board of the Zeitschrift fuer Ernaehrungswissenschaft and The British Journal of Nutrition and on the Editorial Advisory Board of the journal Trends in Food Science and Technology. Dr. Hurrell is a consultant on food fortification to leading multinational food companies and international agencies and was previously the Head of the Micronutrient Research Team and the Coordinator for Infant Nutrition Research at the Nestle Research Center, Lausanne. Dr. Hurrell has more than 130 publications in the areas of iron bioavailability, iron fortification, iron and iodine nutrition in developing countries, mineral absorption using stable isotopes, influence of food processing on nutritional value of foods. Dr. Hurrell holds a PhD in Nutrition from Cambridge University and BSc Honors Degree in Food Technology from Reading University.
Mr. Robert L. Chioini, Chairman, CEO and President of Rockwell, stated, "Dr. Hurrell has accomplished a tremendous amount of work with iron pyrophosphate and is the top expert in iron nutrition at the international level, specifically for SFP, and we are delighted to have him join our Scientific Advisory Board as one of our expert consultants. As we evaluate and develop other SFP applications, outside of iron maintenance via dialysate, we believe Dr. Hurrell's expertise and experience in the industry will be of great benefit to the Company."
Dr. Hurrell is the sixth iron expert added to Rockwell's current SAB. Rockwell's seven-member SAB currently advises the Company on clinical development for its proprietary iron-maintenance renal drug SFP, currently in FDA Phase IIb clinical trials, as well as proprietary SFP-related extensions and the evaluation of new renal drug opportunities. Rockwell's SAB consists of experts in the fields of renal anemia, iron therapy, nutrition, nephrology, parenteral, enteral and FDA regulatory affairs.
SFP, the Company's lead renal drug, is a water-soluble iron designed to provide physiological-iron-maintenance-therapy for treatment of anemia, with initial indication for end stage renal disease (ESRD). SFP is delivered direct to the bloodstream of the ESRD patient, via dialysate, during each kidney dialysis treatment, maintaining optimal iron balance, avoiding liver toxicity and decreasing associated nursing and pharmaceutical IV iron administration costs. Recent academic studies have shown that more frequent maintenance doses of iron improve the therapeutic response and benefits of recombinant erythropoietin treatments. The Company is currently conducting a FDA Phase IIb study and sponsoring an on-going NIH-funded study in anticipation of gaining FDA market approval. Rockwell has licensed exclusive world-wide rights and has secured patents for SFP in multiple countries, including the three largest dialysis markets in the world: the United States, Japan and the European Union. The total U.S. market for IV-iron is approximately $525 million annually while global market potential is approximately $800 million.
About Rockwell Medical Technologies:
Rockwell is a leading, innovative manufacturer and developer of renal drug therapies and critical products focused on improving the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients who suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 370,000 ESRD patients in the United States growing approximately 3-5% on average each year and approximately 2 million ESRD patients world-wide. Rockwell's products are used to maintain life, removing toxins and replacing nutrients in the dialysis patient's bloodstream. Rockwell is currently developing unique, proprietary renal drug therapies for both iron maintenance and carnitine supplementation utilizing its dialysate as the delivery mechanism. These exclusive renal drug therapies support disease management initiatives to improve the quality of life and care of dialysis patients and are designed to deliver safe and effective therapy to these patients while decreasing cost. Visit www.rockwellmed.com for more information.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "projected," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements which are based on information available to us on the date of this release. Because these forward looking statements are based upon estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the Company's control or are subject to change, actual results could be materially different. Factors which could cause such a difference include, without limitation, the risk factors set forth in the Company's SEC filings. The forward-looking statements should be considered in light of these risks and uncertainties. Rockwell does not undertake, and expressly disclaims any obligation, to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.