ETP makes investment to support development of ICVrx's targeted epilepsy drug technology

Pioneering new treatment category - site-specific delivery of drugs to the brain

Epilepsy Therapy Project (ETP), a non-profit organization whose mission is to accelerate new therapies for people living with epilepsy and seizures, and ICVrx, LLC (ICVrx), a pharmacy product research and development company focused on novel therapies for central nervous system (CNS) disorders, announced today that ETP has made an investment in ICVrx to support the development of ICVrx's targeted epilepsy drug technology for patients whose seizures are not controlled by current therapies.

"Our business and scientific advisory boards are enthusiastic about ICVrx's strategy of combining a drug delivery pump technology with established epilepsy medications for direct administration to the central nervous system," said Warren Lammert, Chairman and Co-founder of the Epilepsy Therapy Project and www.epilepsy.com.  "This approach may reduce systemic toxic effects of selected oral anti-epilepsy drugs, facilitate increased local drug concentrations at the site of action, and offer the potential to improve overall tolerability of the effective dose. ETP is making a special-case investment in ICVrx's promising technology for the millions of people suffering uncontrolled, or refractory, epilepsy."

"We are honored to receive ETP's investment, which enables ICVrx to move forward with Phase 1/2 proof-of-concept clinical studies, an important milestone in our effort to bring this new class of therapy to patients.  ETP's business and medical leadership are among the best in CNS drug and device development.  We deeply appreciate their interest in and support of our work," said Daniel J. Abrams, M.D., Chief Executive Officer of ICVrx.

The Epilepsy Therapy Project is committed to investing in promising start-up companies with an emphasis on facilitating the development of treatments for epilepsy.  These investments are unique in that they focus on projects demonstrating a clear path from research in the laboratory to the commercialization of new treatments for epilepsy.

ICVrx has completed preclinical work and will now start clinical studies of three generic drugs reformulated for implanted pump delivery to brain sites.  The aim is to provide the medically refractory epilepsy community a "first choice" treatment option, as current options, which include removal of a brain lobe, are high-risk, high-cost, and irreversible.

Surgery to insert the implant able pump and catheter used to implant ICVrx's pharmaceuticals takes approximately 45 minutes and is similar to surgery for implanting a pump for spinal drug delivery, which has been performed successfully in over 100,000 patients.  Implantable pumps have the potential to deliver as many drugs as are effective and safe for people suffering from brain diseases.