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Microchips Biotech, Inc. Completes Development and Clinical Demonstration of Proprietary Drug Delivery Platform and Advances Commercialization Efforts in Diabetes, Contraception and Osteoporosis

WALTHAM, Mass – December 15, 2014 – Microchips Biotech, Inc., formerly MicroCHIPS, Inc., today announced the completion of the development and clinical demonstration of its proprietary drug delivery technology, a microchip-based implant capable of storing and releasing precise doses of a drug on-demand or at scheduled intervals for up to 16 years. Unlike traditional drug delivery platforms, Microchips Biotech’s implant is capable of responding to wireless signals, which can activate, deactivate or modify the frequency or dose of the drug, without requiring removal. Microchips Biotech is currently pursuing applications of its platform in three key areas: diabetes, female contraception and osteoporosis, which all require frequent, long-term dosing and high patient compliance. Microchips Biotech published clinical data demonstrating the ability of its platform to deliver a drug to treat osteoporosis in women , and is actively advancing development and clinical research programs in diabetes and female contraception, respectively.

“Innovating drug delivery is an integral complement to drug discovery, and Microchips Biotech is uniquely poised to revolutionize the way medicines are administered on a long-term basis,” said Cheryl Blanchard, Ph.D., who assumed the role of Chief Executive Officer in July and currently sits on Microchips Biotech’s Board of Directors. “It’s truly an exciting phase in the company’s lifecycle as we continue to advance the development of our contraceptive implant and focus our efforts on forming strategic partnerships that leverage our platform to enhance the utility and compliance of new and established therapeutic agents to manage osteoporosis, diabetes and other chronic conditions that require frequent, long-term dosing.”

Microchips was co-founded by renowned MIT researchers Robert Langer, Ph.D. and Michael J. Cima, Ph.D., who designed the novel technology and published the first study on its viability as a long-term drug delivery platform implant in Nature1. Over the last decade, the safety and viability of the microchip-based implant has been extensively studied in animal models and humans, and documented in peer-reviewed journals.1,2,3,4 In 2012, Microchips Biotech conducted a first-in-human study1 in women with osteoporosis, demonstrating the ability of its platform to deliver the same therapeutic level of a drug to increase bone mass, as achieved via daily injections. In the same year, the company received grants to develop a microchip-based, long-term, reversible, contraceptive implant for women in developing countries who have limited access to routine medical care and modern contraceptive options.

“The versatility of our platform design lends itself to several clinical applications, and diabetes management is one specific area of tremendous opportunity, a fact which is underscored by our discussions with several potential partners focused on managing that condition,” added Dr. Blanchard, who was formerly Senior Vice President and Chief Scientific Officer of Zimmer, Inc. “For patients with diabetes, compliance is critical and a challenge given the need for frequent, even twice-daily administration of therapeutics, often via injections. Leveraging the microchip-based implant to automate dosing to enhance compliance could be life-changing for the 29 million Americans living with the disease.”

Under Dr. Blanchard’s leadership, Microchips updated its visual corporate identity with new corporate branding and a revamped corporate website (www.microchipsbiotech.com) which reflects the company’s new vision and long-term goals.

About Microchips Biotech, Inc.
Microchips Biotech, Inc. is dedicated to improving the lives of patients by revolutionizing drug delivery. The company’s proprietary platform technology is a microchip-based implant which can store and release precise doses of drugs at scheduled intervals for up to 16 years. The microchip-based implant has the potential to address significant unmet needs by simplifying dosing regimens and enhancing compliance for patients who need frequent dosing or require regular injections. Microchips Biotech is developing and exploring potential applications for the microchip platform in female contraception, diabetes, osteoporosis and multiple sclerosis. Microchips Biotech was co-founded by renowned MIT researchers Robert Langer, Ph.D. and Michael J. Cima, Ph.D., and is funded by leading healthcare and technology venture investors including Polaris Partners, Medtronic, InterSouth, Flybridge Capital and InterWest.