PALM BEACH, Florida, March 8, 2019 /PRNewswire/ -- Clinical trials are the pathway for new drugs or devices to enter the U.S. and other worldwide markets. However, not all clinical trials are the same. A recent article by a 20+ year insider in the clinical trial industry said: "While clinical trials for medical devices have many similarities to those for pharmaceuticals, the regulatory evaluation of devices is distinct from that of drugs – and there are critical differences in the way the device trials are designed and executed. When studying new drugs, a clinical trial is required. However, when studying medical devices, clinical trials may not be required, depending on the risk stratification (or class) of the device. Generally, the total number needed to treat to demonstrate safety and effectiveness in a device trial is in the hundreds rather than the thousands needed in drug trials." In the U.S. the FDA allows the use if Independent Review Boards (IRB) to streamline the approval process. The FDA defines an IRB (and medical devices) as follows: " an IRB is an appropriately constituted group that has been formally designated to review and monitor biomedical research involving human subjects (it) has the authority to approve, require modifications in (to secure approval), or disapprove research. This group review serves an important role in the protection of the rights and welfare of human research subjects. The IRB may also use the expedited review procedure to review minor changes in previously approved research during the period covered by the original approval. Active Healthcare companies in the markets this week include: Soliton, Inc. (NASDAQ:SOLY), Bio-Path Holdings, Inc. (NASDAQ:BPTH), ArQule, Inc. (NASDAQ:ARQL), Seelos Therapeutics, Inc. (NASDAQ:SEEL), Eli Lilly and Company (NYSE:LLY).
Approximately 1,700 types of medical devices are regulated by FDA. The range of devices is broad and diverse, including bandages, thermometers, ECG electrodes, IUDs, cardiac pacemakers, and hemodialysis machines. FORBES calls the medical device market a: "A disruptive market of $410 billion until 2023.
Soliton, Inc. (NASDAQ:SOLY) BREAKING NEWS: Soliton, a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of the MD Anderson Cancer Center ("MD Anderson"), discusses that their RAP device received institutional review board ("IRB") approval as a non-significant risk device. Subsequent to receiving this status, the Company conducted several human clinical trials to study the use of the RAP device to accelerate tattoo fading and initiated a proof-of-concept trial in humans for the reduction of cellulite.
Soliton's RAP device accelerates tattoo removal in part by providing dermal clearing of laser-generated vacuoles during laser treatment. This designation by the IRB allows the Company to use its device in human clinical trials.
This new program will be known as SLS-007. Pre-clinical data provide supportive evidence to slow progression – an early sign of disease-modifying potential in PD.
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SOURCE FinancialNewsMedia.com
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