Northwell Health and United Therapeutics announce strategic partnership
MANHASSET, NY and SILVER SPRING, MD — Northwell Health's Feinstein Institute for Medical Research and United Therapeutics Corporation (NASDAQ: UTHR) announced today a strategic partnership focused on the application of bioelectronic medicine and cell therapy to cardiology, hypertension and post-transplant tolerance induction.
"We are truly honored to work with the pioneers of these next generation medical technologies," said Martine Rothblatt, PhD, United Therapeutics' Chairman and Chief Executive Officer. "We expect a great fit with our clinical development pipeline in heart failure, pulmonary disease and transplantation."
"Collaboration is the indispensable factor in successful medical research," said Kevin J. Tracey, MD, President and CEO of the Feinstein Institute. "With great partners, you can accomplish great things for science and for patients. United Therapeutics is such a partner, we share their aims and their values, and we could not be more pleased than to join with them in this effort.
Under the strategic partnership, United Therapeutics will fund Northwell's efforts in four research and development tracks, while United Therapeutics will bring the results into clinical development. The two organizations are working toward the goal of initial regulatory approvals within five years.
Two of the research projects will be conducted by the Feinstein Institute's Center for Bioelectronic Medicine (CBEM). The Feinstein Institute is the worldwide leader for the advancement of scientific knowledge and intellectual property for the rapidly emerging field of bioelectronic medicine. Bioelectronic medicine represents the convergence of three well-established scientific fields: neuroscience, molecular and cell biology, and bioengineering. The Feinstein Institute team, led by Dr. Tracey, a neurosurgeon who pioneered the field, has been working in this area since 1998, and Northwell Health has already invested $75 million in support of the underlying research. As bioelectronic solutions are successfully identified, tested and refined, CBEM will foster the creation of new companies to bring life-changing solutions to market.
About Northwell Health
Northwell Health is New York State's largest health care provider and private employer, with 21 hospitals and over 550 outpatient facilities. We care for more than two million people annually in the metro New York area and beyond, thanks to philanthropic support from our communities. Our 61,000 employees – 15,000+ nurses and nearly 3,400 physicians, including nearly 2,700 members of Northwell Health Physician Partners — are working to change health care for the better. We're making breakthroughs in medicine at the Feinstein Institute. We're training the next generation of medical professionals at the visionary Hofstra Northwell School of Medicine and the School of Graduate Nursing and Physician Assistant Studies. And we offer health insurance through CareConnect. For information on our more than 100 medical specialties, visit Northwell.edu.
About The Feinstein Institute
The Feinstein Institute for Medical Research is the research arm of Northwell Health, the largest healthcare provider in New York. Home to 50 research laboratories and to clinical research throughout dozens of hospitals and outpatient facilities, the 3,500 researchers and staff of the Feinstein are making breakthroughs in molecular medicine, genetics, oncology, brain research, mental health, autoimmunity, and bioelectronic medicine – a new field of science that has the potential to revolutionize medicine. For more information about how we empower imagination and pioneer discovery, visit FeinsteinInstitute.org.
About United Therapeutics
United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of innovative products to address the unmet medical needs of patients with chronic and life-threatening conditions. [uthr-g]
Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the safe harbor contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, United Therapeutics'and Northwell Health's expectations regarding the strategic partnership between United Therapeutics and Northwell Health and the ability of this collaboration to result in approved therapies within five years. These forward-looking statements are subject to certain risks and uncertainties, such as those described in United Therapeutics' periodic reports filed with the Securities and Exchange Commission, that could cause actual results to differ materially from anticipated results. Consequently, such forward-looking statements are qualified by the cautionary statements, cautionary language and risk factors set forth in United Therapeutics' periodic reports and documents filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. United Therapeutics claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. This information is provided as of March 9, 2017, and neither United Therapeutics nor Northwell Health assumes any obligation to update or revise the information contained in this press release whether as a result of new information, future events or any other reason.