Our History

Prior to November 26, 2003, the Company developed, manufactured and marketed proprietary, technologically-advanced orthopedic products designed to promote the healing of musculoskeletal bone and tissue, with particular emphasis on fracture healing and spine repair. Product lines included bone growth stimulation and fracture-fixation devices including the OL1000 product line, SpinaLogic® and OrthoFrame/Mayo, which at times are referred to as the “Bone Device Business.”

On November 26, 2003, the Company sold its Bone Device Business. The principal business remained focused on tissue repair through biopharmaceutical approaches.

On August 5, 2004, the Company purchased substantially all of the assets and intellectual property of Chrysalis Biotechnology, Inc. (“CBI”), including its exclusive worldwide license for Chrysalin for all medical indications, for $2.5 million in cash and $25.0 million of the Company's common stock, plus an additional $7.0 million of the Company's common stock upon the occurrence of certain triggering events. With the acquisition, the Company became a development stage entity; all efforts were focused on research and development of the Chrysalin Product Platform, with the goal of commercialization.

On February 23, 2006, the Company entered into an agreement to purchase certain assets and assume certain liabilities of AzERx, Inc. for $390,000 in cash and the issuance of 1,355,000 shares of the Company's common stock. The transaction was completed (closed) on February 27, 2006. Under the terms of the transaction, the Company acquired an exclusive license for the core intellectual property relating to AZX100, and will continue to develop the product for indications relating to smooth muscle relaxation and fibrosis, based on the unique technology developed by AzERx. The acquisition provided the Company with a new technology platform that diversified the portfolio, and may provide more than one potential product.

AZX100 is a novel synthetic 24-amino acid peptide, one of a new class of compounds in the field of smooth muscle relaxation and fibrosis. Based on its demonstrated effects in pre-clinical models and safety in Phase 1 clinical trials, AZX100 is currently being evaluated for commercially significant medical applications such as the treatment of pulmonary fibrosis, the prevention of hypertrophic and keloid scarring and intimal hyperplasia.

Effective October 1, 2008, OrthoLogic Corp. began doing business as Capstone Therapeutics; on May 21, 2010 the name of the Company was changed from OrthoLogic Corp. to Capstone Therapeutics Corp. The NASDAQ ticker symbol is “CAPS” and the website is www.capstonethx.com.