{"47193":{"#nid":"47193","#data":{"type":"news","title":"ATDC Company with Promising Gene Therapy to Merge","body":[{"value":"\u003Cp\u003EAn Advanced Technology Development Center (ATDC) member company with a promising gene therapy for treating severe cardiovascular disease will become part of a new publicly-traded life sciences company known as Autus Genetics Corportation under a merger agreement announced September 13 by San Diego-based Gen Star Therapeutics (AMEX:GNT).\u003Cbr \/\u003E\nThe new company will focus on the VEGF-2 gene-based therapy developed by Atlanta-based Vascular Genetics, Inc. for treating cardiovascular disease for which other treatments have failed.  The genetic therapy, which has shown promise in early clinical trials, helps grow new blood vessels for oxygen-deprived areas of the heart.\u003Cbr \/\u003E\n\u0022Our treatment takes a heart that may not be working very efficiently and revitalizes it with the growth of new blood vessels,\u0022 said Richard Otto, CEO of Vascular Genetics.  \u0022We have been able to show fairly dramatic increases in the motion of heart wall tissue that had not been functioning.\u0022\u003Cbr \/\u003E\nThe VEGF-2 gene also holds promise for treating peripheral vascular disease, which causes patients to lose limbs due to inadequate blood circulation.\u003Cbr \/\u003E\nThe merger must be approved by shareholders of both firms, but could be final as early as the fourth quarter of 2002.  The transaction has been structured as a merger of equals.\u003Cbr \/\u003E\n\u0022This is a merger of two companies with truly complementary assets and virtually no overlap,\u0022 Otto explained.  \u0022With Vascular Genetics\u0027 financial restructuring and renewed focus on continuing the VEGF-2 testing for cardiovascular disease, we welcome the clinical, scientific and regulatory expertise of the GenStar team as well as their manufacturing capabilities.  This is a great fit.\u0022\u003Cbr \/\u003E\nOtto will serve as CEO of the new company.  Vascular Genetics\u0027 chief financial officer Robert T. Atwood will serve the new comapny in that same role.  Dr. Robert E. Sobol, president of GenStar, will be president of the new firm.\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"A gene therapy developed by a Georgia Tech-affiliated company could offer heart patients new hope.","format":"limited_html"}],"field_summary_sentence":"","uid":"27304","created_gmt":"2002-10-05 00:00:00","changed_gmt":"2016-10-08 03:03:45","author":"Matthew Nagel","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2002-10-05T00:00:00-04:00","iso_date":"2002-10-05T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"related_links":[{"url":"http:\/\/www.atdc.org\/news\/october42002.html","title":"Late-stage testing planned"}],"groups":[{"id":"1188","name":"Research Horizons"}],"categories":[{"id":"135","name":"Research"}],"keywords":[],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cstrong\u003E \u003C\/strong\u003E\u003Cbr \/\u003E\u003Ca href=\u0022http:\/\/www.gatech.edu\/contact\/index.html?id=\u0022\u003EContact  \u003C\/a\u003E","format":"limited_html"}],"email":[],"slides":[],"orientation":[],"userdata":""}}}