PYMX - .67/.71 I nibbled this AM.
PolyMedix Receives United States Patent for Angiogenesis Inhibitor Compounds
Jul. 15, 2009
Business Editors/Biotech Writers
RADNOR, Pa.--(BUSINESS WIRE)--Jul. 15, 2009--PolyMedix, Inc. (OTCBB: PYMX,
polymedix.com), an emerging biotechnology company developing acute care
products for infectious diseases and acute cardiovascular disorders, announced
today that the United States Patent and Trademark Office issued a patent
assigned to PolyMedix relating to angiogenesis inhibitors. The patent, number
7,553,876, entitled "Polycationic Compounds and Uses Thereof," relates to
therapeutic uses of PolyMedix compounds for inhibiting angiogenesis.
Angiogenesis is a process involving the growth of new blood vessels. The
abnormal growth of new blood vessels is associated with many diseases,
including age-related macular degeneration (AMD), the most common form of
blindness in the elderly, cancers, and inflammation. Inhibiting abnormal
angiogenesis may be useful therapy for these conditions. Lucentis(r) and
Macugen(r) are two products currently approved for treatment of AMD.
PolyMedix's angiogenesis inhibitors may have a mechanism of action distinct
from compounds that only inhibit VEGF (vascular endothelial growth factor).
"This is an exciting accomplishment for PolyMedix. This patent represents
the first allowance from our applications relating to angiogenesis inhibition,
and another compelling example of the efficiency and capabilities of our drug
discovery approach," commented Nicholas Landekic, President and Chief Executive
Officer.
About PolyMedix, Inc.
PolyMedix is a publicly traded emerging biotechnology company focused on
the development of novel drugs and biomaterials for the treatment of infectious
diseases and acute cardiovascular disorders. PolyMedix's compounds are based on
biomimetics: non-peptide small molecule drug candidates that mimic the activity
of proteins. The Company's antibiotic compounds, including PMX-30063 - small
molecule mimetics of human host-defense proteins - have a mechanism of action
distinct from those of current antibiotic drugs, a mechanism which is intended
to make bacterial resistance unlikely to develop. The Company's goal is to
develop these as rapidly acting antibiotics for serious systemic and local
infections. The Company plans to continue the development of polymeric
formulations as antimicrobial biomaterials, which can be used as additives to
paints, plastics, and textiles to create self-sterilizing products and
surfaces. The Company's heptagonist compounds, including PMX-60056, reverse the
activity of both heparin and Low Molecular Weight Heparins, with the goal of
developing an antagonist drug that is safer and easier to use than currently
approved therapy for heparin. For more information, please visit PolyMedix on
its website at www.polymedix.com.
Lucentis(r) is a registered trademark of Genentech, Inc.
Macugen(r) is a registered trademark of Eyetech, Inc.
This press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995
that involve risks, uncertainties and assumptions that could cause PolyMedix's
actual results and experience to differ materially from anticipated results and
expectations expressed in these forward looking statements. PolyMedix has in
some cases identified forward-looking statements by using words such as
"anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans,"
"intends", "goal", "potential," "may," "suggest," and similar expressions.
Among other factors that could cause actual results to differ materially from
those expressed in forward-looking statements, PolyMedix's compounds may not
enter or successfully complete clinical testing or be granted regulatory
approval to be sold and marketed in the United States or elsewhere. A more
complete description of these factors is included in PolyMedix's filings with
the Securities and Exchange Commission. You should not place undue reliance on
any forward-looking statements. PolyMedix undertakes no obligation to release
publicly the results of any revisions to any such forward-looking statements
that may be made to reflect events or circumstances after the date of this
press release or to reflect the occurrence of unanticipated events, except as
required by applicable law or regulation.
CONTACT: PolyMedix, Inc.
Lona Cornish, 484-598-2340
lcornish@polymedix.com
or
The Investor Relations Group
Investors: Erika Moran
emoran@investorrelationsgroup.com
Media: Janet Vasquez
jvasquez@investorrelationsgroup.com
212-825-3210
(TS:PYMX;) |
