$TWSI gets Phase 2 Funding for Prostate Cancer Product from NIH
By: staff reporter, John Bodger
Last Updated: May 21, 2015 8:43 AM EST
(NEW YORK)--TriStar Wellness Solutions, Inc. (OTC:TWSI), a health and wellness company that targets opportunities in the advanced wound care marketplace, announced that its wholly owned subsidiary HemCon Medical Technologies, Inc. was awarded funding from the National Institutes of Health (NIH) of $1.1 million to develop a novel chitosan endoluminal hemostatic dressing that is able to be delivered by a catheter to control and prevent prostatic bleeding during prostatic surgery such as transurethral resection of the prostate (TURP).
Oregon Health & Science University (OHSU) will work with HemCon as a subcontractor in development of the dressing.
Prostate benign hyperplasia (BPH) and prostate cancer are two of the most common urologic diseases that are treated with surgical intervention in older men. The Department of Health and Human Services report approximately 150,000 prostatic surgical procedures performed in the U.S. annually. Uncontrolled bleeding associated with transurethral and open prostatic surgical procedures often results in delayed healing, increased patient discomfort and ultimately prolonged hospitalization which significantly increases the cost of patient care.
The chitosan endoluminal hemostatic dressing development will enable rapid control of bleeding, reduce discomfort associated with extended catheterization, and more significantly enable reduction in hospital stays and expenditure. A previous Phase I award demonstrated feasibility of the chitosan endoluminal hemostatic dressing, its incorporation into a urinary catheter device, and its use to control bleeding in a large animal model. The Phase II funding that has now been awarded provides for development of a final balloon-delivered hemostatic system.
China FDA Approval
In addition to this product, TWSI recently announced approval from the China Food and Drug Administration (CFDA) to market and sell their line of medical products into China. TWSI has commercially entered the market as of April 2015 by accepting an order through a distributor on the mainland, and will include its full portfolio of wound care solutions which are protected by patents both in China and throughout the world. Currently the wound care market in China is estimated at $1.2 billion. TWSI now current holds FDA approval in both the US and China.
TWSI currently has around 25 million shares issued and outstanding, and was last traded around $0.20 per share.
About TriStar Wellness Solution, Inc.
TriStar Wellness Solutions, Inc. is a health and wellness company that targets under-met consumer opportunities in the OTC and professional marketplace. Its core strategy plans to meet the growing demand for personalized, care solutions by leveraging proprietary innovation and healthcare technology with the rapid transformation of the healthcare marketplace to create innovative, science based solutions and brands. TriStar recently acquired HemCon Medical Technologies Inc., a developer, manufacturer, and marketer of innovative technologies for hemostatic devices for the control of bleeding resulting from trauma or surgery. It also owns the Beauty de MamanTM brand of women's health products. Additional information is available at www.tstarwellness.com
