Pinnacle Biologics acquires PDT laser technology

http://www.reuters.com/article/2012/12/05/idUS112392+05-Dec-2012+PRN20121205

 

PR Newswire

BANNOCKBURN, Ill., Dec. 5, 2012

BANNOCKBURN, Ill., Dec. 5, 2012 /PRNewswire/ -- Pinnacle Biologics, Inc., a bio-pharmaceutical technology company developing and manufacturing novel therapies for oncology and rare diseases announced today the acquisition of laser technologies for use in photodynamic therapy (PDT). The acquisition includes the Diomed™ PDT 630 laser and the OPTIGUIDE™ fiber optic diffusers, which are currently the only FDA-approved devices for use in PDT with PHOTOFRIN ® (porfimer sodium) for injection. Financial terms were not disclosed.

Photodynamic therapy with PHOTOFRIN is a two-stage process requiring administration of both drug and light. Pinnacle's acquisition of the laser and fiber technology creates a complete portfolio for the company, which now includes all the PDT treatment components.

"This acquisition delivers significant value to Pinnacle by ensuring we have the strongest platform possible from which to further develop PDT therapy," said Guillermo Herrera, Pinnacle Executive Chairman and CEO. "Having access to all the PDT technology and science allows us to accelerate our push for new indications and treatments for cancer and other, more rare diseases."

Pinnacle acquired PHOTOFRIN in March 2011 solidifying its corporate presence and global leadership in the photodynamic therapy field by normalizing product supply, expanding availability and education among current customers, and targeting areas of unmet medical need for use with PDT. The company continues to work with regulators, top academic institutions and opinion leaders to accelerate product development in areas where the product has shown evidence of safety and efficacy for the benefit of patients affected by rare and devastating diseases.

"PDT with PHOTOFRIN is an established treatment. However, more work needs to be done to elevate awareness of this treatment among physicians and patients," said Herrera.

 

Wow! That's great! Only 6 years too late!
Probably should have saved the cash for legal fees.

 

Too funny! Legal fees and an FDA fine will make Guillermo file for bankruptcy without a doubt. I don't believe PB realizes that many PDT users and KOLs have been sent the Pinnacle Biologics link on cafe pharma and are monitoring it regularly. I had a customer share with me the other day that they no longer depend on PB to update them on initiatives since cafe pharma is keeping them well informed. One of the important PDT customers said, "We are dragging our feet with requests from PB management..." And another said, "It appears Pinnacle Biologics may be getting in a heap of trouble soon..." Is the end near? I don't know. It's starting to smell pretty bad and PB is no longer flying under the radar.