Scott Nicholas
The Department of Health and Human Services‘ Biomedical Advanced Research and Development Authority has amended a previously awarded contract option to Cytori Therapeutics to fund continued development and investigation of the company’s burn wound treatment.
Cytori said Monday BARDA increased the option’s value by $2.5 million to approximately $16.6 million and supplemental funds from the amended contract will support activities necessary for the company to apply for an investigational device exemption of its Cell Therapy.
The company plans to request for additional financial assistance from BARDA to perform clinical trials of the the medical technology if it obtains IDE approval from the Food and Drug Administration.
The original contract also contains $68 million in additional options to support pilot and pivotal clinical trials of the the Cell Therapy.
Cytori President and CEO Marc Hedrick said the company aims to bring the device into clinics for the treatment of thermal burn injuries in 2017.
