CLEVELAND – University Hospitals (UH) Case Medical Center has licensed photodynamic therapy technology for the treatment of psoriasis and other skin diseases to Fluence Therapeutics, Inc. (FTI), a company spun off by the medical center. FTI represents the first time that UH Case Medical Center has made a “pre-seed” investment in a company in a start-up phase.
The technology was developed by researchers at UH Case Medical Center and Case Western Reserve University (CWRU). It represents the culmination of more than 20 years of research in photodynamic therapy by clinicians and researchers in the UH Case Medical Center Departments of Radiation Oncology and Dermatology and the CWRU Department of Chemistry. Photodynamic therapy uses chemical compounds that are sensitive to light through specific wavelengths. When these compounds, called photosensitizers, are infused into tissue and are exposed to light, they alter the function of the affected cells.
UH Case Medical Center founded FTI to develop and produce photosensitizer technology emitting the appropriate wavelength of light used to activate the compounds for the treatment of psoriasis.
“The founding of FTI to further the development of this important technology is part of our mission: To Heal. To Teach. To Discover. Our goal is to translate what we learn in the lab and move it quickly into new therapies that improve the outcomes for our patients,” said Fred C. Rothstein, M.D., President of UH Case Medical Center. “The combination of this new technologic discovery with continued clinical research shows great promise for the treatment of psoriasis and other skin disorders.”
Researchers at UH Case Medical Center and CWRU School of Medicine are currently conducting a clinical trial funded by the National Institute of Arthritis, Musculoskeletal and Skin Diseases, examining the efficacy of using these compounds for the treatment of psoriasis. According to the principal investigator on the study, Elma Baron, M.D., Department of Dermatology at UH and associate professor at CWRU School of Medicine, “Psoriasis affects 6-9 million people in the U.S. alone, with an estimated cost of over $1 billion to treat. Currently there is no known cure for psoriasis, which is why this technology holds so much promise.”
UH Case Medical Center is a world leader in the treatment of psoriasis, having established the Murdough Family Center for Psoriasis and is among the nation’s leading recipients of federal grant money for clinical research through its primary affiliate CWRU School of Medicine.
“UH Case Medical Center approached entrepreneur Warren Goldenberg in 2009 to take on the CEO role for FTI,” said Stephen Behm of Technology Management at UH Case Medical Center. “He has a successful track record with early stage companies, including CardioInsight, based on CWRU/UH research in electrocardiographic imaging, and Imalux, based on optical coherence tomography imaging technology.”
Mr. Goldenberg splits his time between being a startup CEO and a partner in the law firm of Hahn Loeser & Parks LLP, where he co-chairs the Intellectual Property and Technology Group.
“Startup companies, such as FTI and CardioInsight, are vital to the future of Ohio’s burgeoning biotechnology field, and UH Case Medical Center plans on fostering the development of such companies,” said Dr. Rothstein.
FTI is located within Akron’s Biomedical Corridor District, and is now a vital member of the Akron Global Business Accelerator’s growing cluster of domestic and international life sciences companies.