PRZOOM - /newswire/ -
Palo Alto, CA, United States, 2007/12/06 - Frost & Sullivan is proud to present Avid Radiopharmaceuticals, Inc. with the 2007 North American Molecular Imaging Technology Innovation of the Year Award for its pioneering contributions to the molecular imaging industry.
A world leader in developing molecular imaging agents, Avid's technology can target amyloid plaque in the brain for detection and diagnosis of Alzheimer's disease (AD), which affects approximately 4.5 million Americans.
According to the Alzheimer's Association, it is estimated that a new case of AD occurs in the U.S. every 72 seconds, and by mid century the rate will greatly increase to one case every 33 seconds. The potential benefits of Avid's technology to the patient and overall public health are very promising, generating strong demand.
Avid's first novel compound 18F-AV1/ZK (AV-1), devised for early diagnosis and disease progression monitoring of AD, has completed Phase I clinical trials and is to be used in conjunction with positron emission tomography (PET).
Building on the positive clinical data with AV-1, Avid advanced a series of second generation PET molecular imaging compounds into clinical trials – these compounds provide further improvements in image quality for detecting amyloid plaque in the brains of people with AD. Avid is also testing related compounds in clinical trials for use with single photon emission computed tomography (SPECT).
"By accurately diagnosing AD in its earliest stages, Avid's products may enable more appropriate treatment plans to be devised for patients, thus reducing the long-term cost of care," says Frost & Sullivan Research Analyst Samantha Barbosa. "Bayer Schering Pharma has executed a licensing agreement for Avid's first agent, AV-1 to develop the compound, underscoring the potential clinical value of this technology in the marketplace. Now, Avid is developing a second generation PET molecular imaging compound in IND clinical trials for imaging amyloid plaques."
Researchers are also studying the utilization of this compound for monitoring the efficacy of drugs that may reverse or prevent the deposition of amyloid plaque in the brain. Avid's technology has the potential to yield the first commercially available molecular imaging agent with the capabilities to successfully image plaque in AD patients and others with mild cognitive impairment (MCI).
"The possible value to the end users such as radiologists, neurologists, and nuclear medicine physicians is the concept of early detection of AD at a time when treatment may be more beneficial," notes Barbosa. "Moreover, with early detection comes early diagnosis and treatment that will enable appropriate life planning."
Response level in the scientific community is highly enthusiastic since the results from the reports released on the clinical trial showed a positive outcome.
Through its innovative contribution to molecular imaging with amyloid imaging compounds for patients with AD, Avid is poised to make a major impact on the medical imaging industry, and stands to significantly improve management of Alzheimer's disease. Therefore, Frost & Sullivan is pleased to present Avid with the Technology Innovation of the Year award in molecular imaging.
Each year Frost & Sullivan presents this Award to the company that has demonstrated technological superiority within its industry. The Award recognizes the ability of the company to successfully develop and introduce new technology, formulate a well-designed product family, and make significant product performance contributions to the industry.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Avid Radiopharmaceuticals, Inc.
Avid Radiopharmaceuticals, Inc. (avidrp.com) is a product-focused molecular imaging company developing novel diagnostic imaging agents to enable earlier diagnosis and more effective treatment selection and therapeutic monitoring for patients affected by a range of major medical disorders. The company is a pioneer in the development of molecular imaging agents for Alzheimer's disease that could lead to earlier diagnosis and better evaluation of drugs designed to prevent or reverse amyloid plaque build-up in the brain. Avid's technology can be used with imaging technologies such as positron emission tomography (PET) and single photon computed tomography (SPECT). Avid is currently enrolling patients in IND studies of 18F-PET agents for imaging amyloid plaques in Alzheimer's disease and for imaging the vesicular monoamine transporter (VMAT2) in diseases involving dopaminergic degeneration such as Parkinson's disease (PD) and Dementia with Lewy Bodies (DLB). Recent research has shown that imaging VMAT2 may also be useful in monitoring the functional viability of beta cells of the pancreas, which could improve efforts to diagnose and monitor progression of diabetes mellitus. The VMAT2 imaging program has grown out of a close collaboration with the University of Michigan as well as the University of Pennsylvania.
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