Qrons is Developing 3D Printable Implants to Treat Penetrating Brain Injuries
NEW YORK, NY, Oct. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Qrons Inc. (OTCQB: QRON), an emerging biotechnology company developing advanced stem cell-synthetic hydrogel-based solutions for the treatment of traumatic brain injuries, including concussions and penetrating injuries, announced today that it has entered into an Intellectual Property License Agreement (the “Agreement”) with Dartmouth College for an exclusive world-wide license of Intellectual Property related to 3D printable materials in the fields of human and animal health. The Agreement provides for the payment by Qrons of initial and annual license fees and royalty payments based upon Qrons' product sales. The Agreement was signed on October 2, 2019 and is effective as of September 3, 2019.
Qrons is using the 3D process covered by the patent entitled “Mechanically Interlocked Molecules-based Materials for 3D Printing” as part of its injury specific 3D printable implants to treat penetrating brain injuries. Qrons is also a party to a Sponsored Research Agreement with Dartmouth to advance the license or ownership of additional Intellectual Property. The Qrons research team is working closely with Professor Chenfeng Ke, a member of Qrons Scientific Advisory Board and an inventor of the licensed 3D process, and PhD candidate Qianming Lin.
Ido Merfeld, Qrons Co-founder and Head of Product, commented, “The intellectual property covered by this license has been instrumental in helping us advance our research on the treatment of penetrating brain injuries. We believe combining Qrons’ proprietary hydrogel with customizable 3D printing capabilities is an innovative approach to treating traumatic brain injuries, for which there are limited treatments.”
Jonah Meer, Qrons’ Co-founder and CEO, added, “We’re excited to have concluded negotiations to acquire an exclusive license for this important intellectual property. There is a great need for our promising treatments, and this technology is an integral part of our work to develop innovative 3D printable, biocompatible advanced materials.”
Chenfeng Ke, Assistant Professor of Chemistry, Dartmouth College, stated, “We are excited to partner with Qrons and continue the development of smart hydrogels with 3D printing capability for the treatment of traumatic brain injuries.”
Nila Bhakumi, Director of Technology Transfer at Dartmouth, echoed Professor Ke’s comments and added, “We are delighted with Dr. Ke’s collaboration with Qrons as they try to solve the very important problem of Traumatic Brain Injury.”
About Dartmouth College
Founded in 1769, Dartmouth College is a member of the Ivy League and consistently ranks among the world's greatest academic institutions. Dartmouth has forged a singular identity for combining its deep commitment to outstanding undergraduate liberal arts and graduate education with distinguished research and scholarship in the Arts & Sciences and its three leading professional schools - the Geisel School of Medicine, Thayer School of Engineering, and the Tuck School of Business.
About Qrons Inc.
Headquartered in New York City, Qrons is a publicly traded emerging biotechnology company developing advanced stem cell-based solutions to combat neuronal injuries with a laser focus on traumatic brain injuries and concussions. The Company has two product candidates for treating TBIs, both integrating proprietary, modified mesenchymal stem cells ("MSCs") and smart synthetic material, QS100™, an injury specific, 3D printable, implantable MSCs-synthetic hydrogel, to treat penetrating brain injuries and QS200™, an injectable MSCs-synthetic hydrogel for the treatment of diffused injuries commonly referred to as concussions.
The Company is a party to a license and research funding agreement and related service agreements with Ariel Scientific Innovations Ltd., a wholly owned subsidiary of Ariel University, based in Ariel, Israel, and in addition to the world-wide exclusive intellectual property license, a Sponsored Research Agreement with Dartmouth College funding further research with Professor Chenfeng Ke and his team in the Chemistry Department, to develop innovative 3D printable, biocompatible advanced materials. For additional information, please visit www.qrons.com.
Forward Looking Statement
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.