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A Sarasota medical technology has completed a new prototype. Oragenics created an automated intranasal device for those who have suffered concussions and are in an acute phase of their injury.
“We are excited about this new automated technology as it allows us to treat the full range of concussive injuries,” Oragenics President Michael Redmond says in a statement. “Given the early mental alterations many concussed patients experience, we aim to provide them the best drug delivery route to improve their clinical outcomes.”
About 69 million concussions are reported worldwide each year, and 10% of patients with concussions become unconscious, while many others experience an altered mental state that can include confusion and short-term memory loss, according to a statement from Oragenics. That makes it difficult to administer medicine, which is why automated technology is key.
The Oragenics device is breath-propelled and consists of nanoparticle powder administered through the nose.
A Phase 2 study is being designed to analyze how effective the treatment is on blood biomarkers and patient-reported outcomes of concussed patients, according to a statement from Oragenics.
Common causes of concussions include falls, vehicle crashes and contact sports, according to the statement, which says neurological disorders like Alzheimer's disease, Parkinson's disease and chronic traumatic encephalopathy have also been linked to concussion.
The company announced it had completed the prototype for the automatic intranasal device for concussed patients the day after it closed a public offering of 1,100,000 shares of its common stock at an offering price of $1 per share. The net proceeds from the $1.1 million offering were intended to fund the continued development of the automated intranasal device for concussed patients, provide for general corporate purposes and be a source of working capital.
As of February, Oragenics listed 1990 Main Street in Sarasota’s Regus shared and co-work office space as the address of its principal executive officers. That's a change from previous corporate filings that listed the corporate address in Tampa. Oragenics was founded in 1996.
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