Intersect ENT Quadruples Operation Size with Expansion to New Facility in Menlo Park, Calif.
PROPEL Implant Named Edison Award Winner
MENLO PARK, Calif., Apr 17, 2012 (BUSINESS WIRE) -- Intersect ENT, Inc., an innovator in treatment solutions for ear, nose and throat clinicians and patients, today announced that the company is quadrupling its operation size with an expansion to a new 32,000-square foot facility located at 1555 Adams Drive in Menlo Park, Calif. The expanded headquarters will house all business and manufacturing operations for the company's PROPEL(TM) mometasone furoate implant for chronic sinusitis patients.
The company also announced that the PROPEL implant has been recognized as a winner in the Science & Medical category by the internationally-renowned 2012 Edison Awards. The awards, which will be presented next week at a gala in New York, represent the spirit of innovation personified by Thomas Edison, inspiring America's drive to remain in the forefront of creativity and ingenuity in the global economy.
"We're pleased that the Edison Awards have recognized the PROPEL implant as one of the most innovative new technologies on the forefront of science and medicine today," said Lisa Earnhardt, the company's president and CEO. "The limited release of PROPEL seven months ago has exceeded our expectations by every measure as we continue to gain traction in the clinical community. We are particularly proud that more than 90 percent of accounts who placed orders have reordered the product. The expansion into our new Menlo Park facility will allow us to maintain a rapid pace of growth as we prepare for a full U.S. launch as well as continue the development of a full product pipeline."
The first and only product for chronic sinusitis patients to combine both a mechanical and medical benefit, PROPEL offers localized, controlled delivery of steroid directly to the sinus tissue. Inserted by the physician to maintain the surgical opening, the spring-like dissolvable implant expands to prop open the sinus, gradually delivering a corticosteroid with anti-inflammatory properties directly to the sinus lining. Positive clinical data has demonstrated that PROPEL's localized and controlled steroid delivery confers significant benefits to patients, reducing the need for post-operative medical and surgical therapies.
The PROPEL implant received U.S. Food and Drug Administration (FDA) approval in August 2011. PROPEL is now commercially available as part of a limited release in Atlanta, Chicago, Dallas, Houston, New York City, and Ohio.
About the Edison Awards
The ballot of nominees for the Edison Awards is judged by more than 3,000 senior business executives and academics from across the nation whose votes acknowledge the Finalists' success in meeting the award criteria of Concept, Value, Delivery and Impact.
Innovations honored alongside PROPEL include the Fisker Karma electric car, IBM's Watson supercomputer, and Apple's iPhone 4s. Announcement of the Gold, Silver and Bronze level awards will take place on April 26, 2012 at the Edison Awards Annual Gala, held in the historic ballroom of New York's famed Capitale.
The members of the Edison Awards Steering Committee are senior executives with diverse marketing, scientific, and business backgrounds who monitor the development and successful launch of innovative products each year. The Committee is responsible for bestowing the annual Edison Achievement Awards and serves as a guidepost in developing the list of nominees that is presented to the Edison Award judges.
The 2012 Edison Awards are sponsored by Nielsen, Discovery Communications, Science Channel, USA Today, CSRware, and applepeak. For more information about the Edison Awards and a list of past winners, visit www.edisonawards.com .
About Chronic Sinusitis
Chronic sinusitis is a condition in which patients' sinuses become swollen and inflamed, leading to difficulty breathing, facial pain or headache, and reduced sense of smell and taste. The condition is common, affecting 31 million people in the U.S.,(1) and greatly impacts quality of life.
Chronic sinusitis often requires a complex combination of surgical and medical treatments. Each year, 500,000 patients undergo sinus surgery to treat the condition.(2) Although sinus surgery is effective, the majority of patients experience recurrent symptoms within the first year; as many as 25 percent then undergo revision surgery due to recurrent obstruction of the sinus cavity.(3)
About PROPEL(TM) Mometasone Furoate Implant
PROPEL is clinically proven to maintain sinus patency after surgery by reducing post-operative inflammation and scarring, reducing the need for post-operative medical and surgical therapies.(4) The implant props open the sinuses in a spring-like fashion and provides for safe, effective and localized delivery of steroid directly to the sinus lining. The self-expanding implant conforms to the highly variable sinus anatomy, and effectively delivers anti-inflammatory medication where it's needed most as the implant dissolves.
Safety and efficacy of the PROPEL implant have been studied in three rigorous prospective clinical trials conducted in the United States enrolling a total of 205 patients, providing an unparalleled level of clinical evidence for an ENT product: a randomized, double-blind pilot study, recognized with the 2010 Maurice Cottle Research Award honoring best clinical or basic science by American Rhinologic Society; the ADVANCE single-cohort study assessing safety and patient symptoms to six months; and the ADVANCE II randomized, controlled, double-blind clinical trial, which included review by an independent panel of surgeons.
About Intersect ENT
Intersect ENT Inc., located in Palo Alto, Calif., is an innovator in local drug delivery focused on advancing clinically proven therapy solutions that improve quality of life for ear, nose and throat patients. The company's initial focus is a dissolvable steroid-releasing implant to treat patients with chronic sinusitis, a common condition that affects one out of seven adults in the U.S. and greatly impacts quality of life. The company holds seventeen issued U.S. patents and more than 75 patents and pending applications worldwide. Intersect ENT is backed by Kleiner, Perkins, Caufield & Byers; U.S. Venture Partners; PTV Sciences; and Medtronic. For more information please visit www.intersectENT.com .
2011 (C) Intersect ENT Inc. All rights reserved. INTERSECT ENT(TM) and PROPEL(TM) are trademarks of Intersect ENT, Inc.
Patients with chronic sinusitis should consult their ENT surgeon for a full discussion of risks and benefits to determine whether this product is the right choice.
(1) Pleis JR, Lethbridge-Cejku M. Summary health statistics for U.S. adults: National Health Interview Survey, 2006. National Center for Health Statistics. Vital Health Stat 10(235). 2007.
(2) Rosenfeld et al. Clinical practice guideline: Adult sinusitis. Otolaryngology--Head and Neck Surgery. 137, S1-S31, 2007.
(3) Shaitkin et al. Endoscopic Sinus Surgery. Laryngoscope, 103, Oct 1993.
(4) Han JK, Marple BF, Smith TL, et al. Presented at AAOA meeting Sept. 9, 2011.
SOURCE: Intersect ENT, Inc.
For Intersect ENT, Inc.
Nicole Osmer, 650.454.0504