Healthcare of Today Acquires Pharmaceutical Company Treating Dry Age-Related Macular Degeneration
BURBANK, CA -- May 4, 2010 -- Healthcare of Today, Inc. today announces that it has completed the acquisition of MacuCLEAR, Inc., a specialty pharmaceutical company focused on discovering and developing novel solutions for vascular disorders of the eye.
MacuCLEAR's (www.macuclear.com) groundbreaking work leverages its unique understanding of ocular pharmacology and drug development to advance a pipeline of proprietary pharmaceuticals. MC-1101, MacuCLEAR's primary product compound, is a patented, preservative-free drug delivered with a proprietary delivery system for treating and stopping the progression of dry Age-related Macular Degeneration (AMD). MacuCLEAR has an active IND for MC-1101 and has completed a successful Phase Ib/Proof of Concept human clinical trial.
The company's work on Dry AMD comes at a crucial time in senior eye care. As the population ages and baby boomers advance into their 50s and 60s, the numbers suggest there will be a virtual epidemic of AMD. Age-related Macular Degeneration (AMD) is the most common cause of vision loss in people 50 and older. However, there is no approved drug treatment yet available to patients with dry AMD, and only limited treatments are available for patients with wet AMD. An astounding 90 percent of AMD patients cannot be treated with the methods currently available.
"MacuCLEAR is delighted to join the HOTI team, especially with its focus on providing quality healthcare solutions for our graying population," said Philip G. Ralston, Jr., the company's President, CEO and Co-founder. "HOTI's critical mass and synergies will allow MacuCLEAR to continue pursuing its strategic goal of bringing our treatment for Dry AMD to market." MacuCLEAR intends to begin a Phase II clinical trial this summer.
MacuCLEAR's accomplished management team also includes CSO and Co-Founder, George C. Y. Chiou, Ph. D., professor and director of the Institute of Ocular Pharmacology and professor of neuroscience and experimental therapeutics at Texas A&M University System Health Science Center. Dr. Chiou previously led the discovery of Timolol, a pioneering treatment for glaucoma.
CEO of Healthcare of Today Henry Jan says, "We handpick companies like MacuClear; an advanced life sciences company that shares Healthcare of Today's ambitious goals and patient focus. While our healthcare network has grown to provide care for all ages, everyone knows we began with the mission of providing seniors and their families with the best medical solutions available. MacuCLEAR's work is groundbreaking and will be life-changing for millions of senior patients, and we are honored to be part of that ride."
About Healthcare of Today
Healthcare of Today is a vertically-integrated healthcare holding company. Founded in 2008, it has since acquired a number of companies, many specializing in the senior care industry. Its subsidiaries are engaged in a wide range of businesses including: nurse staffing, residential care facilities for the elderly, home healthcare services, home healthcare equipment sales, healthcare information technology, medical equipment, healthcare consulting, insurance, data security, advanced human tissue engineering, alternative energy (AEGY.ob) and more.
This announcement is not an offer to sell any Healthcare of Today securities. Offers for any given security are made only through applicable offering circulars and related supplements filed with the SEC pursuant to Section 13(a), 13(c) or 14 of the Securities Exchange Act of 1934.
Healthcare of Today press releases sometimes contain forward-looking statements. A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements will be found in the company's Registration Statement to be filed with the SEC.