HOLLISTON, Mass., Aug. 22, 2016 /PRNewswire/ -- Biostage, Inc. (Nasdaq: BSTG), ("Biostage" or the "Company"), a
biotechnology company developing bioengineered organ implants to treat cancers and other life-threatening conditions of the
esophagus, bronchus and trachea, announced today that it has received the National Instruments ("NI") Engineering Impact Award for Regenerating and
Restoring Organ Function Damaged by Disease or Trauma for its groundbreaking Cellframe™ Technology. The Company was also
the recipient of the NI 2016 Community's Choice Humanitarian Award.
Jim McGorry, CEO of Biostage, commented, "We
are incredibly proud to receive recognition for our proprietary Cellframe technology and are honored to have been given these
awards from National Instruments. We believe that our proprietary technology can unleash the body's natural healing process and
signal pathways to regenerate and restore organ function, and we expect that this technology will enable the first truly
personalized approach to organ regeneration."
Esophageal, bronchial, and tracheal cancers and trauma, have a devastating impact on patients. The current surgical treatment
options are complex and include procedures like moving the patient's stomach or a portion of their colon into the chest to
replace a portion of the esophagus or removing a healthy lung as part of the resection of a diseased bronchus. Biostage is
currently investigating its Cellframe technology to treat life-threatening conditions of the esophagus, trachea and bronchus with
the objective of dramatically improving the treatment options available to those patients.
"The procedures of replacing the diseased sections of these organs carry serious risks of organ dysfunction and damage,
leading to high complication rates and a drastically reduced quality of life," stated Saverio La Francesca, MD, EVP and Chief Medical Officer
of Biostage. "The Cellframe technology offers a completely new way of treating these potentially life-threatening conditions and
we believe it holds the potential to improve mortality rates, reduce complications often involved in these procedures and
drastically enhance the patient's quality of life."
Biostage has a collaboration agreement with Mayo Clinic to develop solutions for diseases of the esophagus and bronchi and
bring them to the clinic. In addition to its product development collaboration with Mayo Clinic, the Company has an ongoing
collaboration with Connecticut Children's Medical Center to develop an innovative process for repairing or replacing the
esophagus to treat life-threatening pediatric conditions such as esophageal atresia. Esophageal atresia is a congenital condition
where a baby is born without a fully-developed esophagus, so that the esophagus does not reach the stomach.
The Company expects to file an Investigational New Drug ("IND") application with the U.S. Food and Drug Administration ("FDA")
for the esophageal implant by year end.
About the NI Engineering Impact Awards
National Instruments provides a graphical system design platform for test, control, and embedded design applications that is
transforming the way engineers and scientists design, prototype, and deploy systems. The NI Engineering Impact Awards are
presented to applicants that showcase the most innovative projects based on NI software and hardware. Awards are given to one
finalist and one winner in each of the seven categories; Industrial Machinery and Control, Advanced Research, Aerospace and
Defense, Electronics and Semiconductor, Energy, Wireless and Mobile Communications, and Transportation and Heavy Equipment.
About Cellframe™ Technology
The Company's proprietary Cellframe technology is designed to harness the full potential of the in vivo
microenvironment to achieve tissue regeneration and restore organ function. It employs a multistep process in which the patient's
own stem cells are taken from a simple adipose/fat tissue biopsy, expanded and banked, and then seeded onto a proprietary
scaffold that mimics the natural dimensions of the organ being regenerated. After several days in a rotating bioreactor, the
biocompatible scaffold containing the stem cells is ready to be implanted. Preclinical studies suggest that the organ implant
signals the stem cell niche in the surrounding native tissue to guide the regeneration of a biological structure. This technology
is based on the concept of in situ tissue regeneration using the body's own biologic resources and reparative capability in
combination with tissue-specific biomaterials implanted at the sites of disease or injury.
About Biostage
Biostage is a biotechnology company developing bioengineered organ implants based on the company's new CellframeTM
technology which combines a proprietary biocompatible scaffold with a patient's own stem cells to create CellspanTM
organ implants. Cellspan implants are being developed to treat life-threatening conditions of the esophagus, bronchus or trachea
with the hope of dramatically improving the treatment paradigm for patients. Based on its preclinical data, Biostage has selected
life-threatening conditions of the esophagus as the initial clinical application of its technology.
Cellspan implants are currently being advanced and tested in collaborative pre-clinical studies. Pre-clinical, large-animal
safety studies, conducted in compliance with the FDA Good Laboratory Practice (GLP) regulations, for the Company's Cellspan
Esophageal Implant product candidate have begun, in support of Biostage's goal of filing an Investigational New Drug (IND)
application with the U.S. FDA in late 2016. The IND will seek approval to initiate clinical trials for its esophageal implant
product candidate in humans.
For more information, please visit www.biostage.com and
connect with the Company on Twitter and LinkedIn.
Forward-Looking Statements:
Some of the statements in this press release are "forward-looking" and are made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. These "forward-looking" statements in this press release include, but are not
limited to, statements relating to the development expectations and regulatory approval of any of our products, including those
utilizing our Cellframe technology, by the FDA, EMA, MHRA or otherwise, which expectations or approvals may not be achieved or
obtained on a timely basis or at all; or success with respect to any collaborations, clinical trials and other development and
commercialization efforts of our products, including those utilizing our Cellframe technology, which such success may not
be achieved or obtained on a timely basis or at all. These statements involve risks and uncertainties that may cause results to
differ materially from the statements set forth in this press release, including, among other things, our ability to obtain and
maintain regulatory approval for our products; plus other factors described under the heading "Item 1A. Risk Factors" in our
Annual Report on Form 10-K for the fiscal year ended December 31, 2015 or described in our other
public filings. Our results may also be affected by factors of which we are not currently aware. The forward-looking statements
in this press release speak only as of the date of this press release. Biostage expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or
any changes in the events, conditions or circumstances on which any such statement is based.
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SOURCE Biostage, Inc.