PYMX - .93 This has been inching higher for several days. Perhaps this is the reason.
PolyMedix Receives U.S. Patent Protection for Licensed Computational Methods to
Design Antimicrobial Polymers
Sep. 28, 2009
Business Editors/Biotech Writers
RADNOR, Pa.--(BUSINESS WIRE)--Sep. 28, 2009--PolyMedix, Inc. (OTC BB: PYMX,
polymedix.com), an emerging biotechnology company developing new
therapeutic drug products to treat infectious diseases and acute cardiovascular
disorders based on biomimetics, has received patent protection for certain
exclusively licensed intellectual property by the issuance to the University of
Pennsylvania of U.S. patent number 7,590,517, "Methods, Systems, and Computer
Program Products for Computational Design of Amphiphilic Polymers."
This patent claims the underlying process and implementation of two
proprietary computational methodologies: PACE(tm) (Proteomic Assisted
Computational Engine) and GOLDYN(tm) (Global Optimization of Long-time Dynamics
force field), useful for the de novo design of small molecule mimetics. It
relates to the identification of stable conformations of polymers and polymer
fragments (oligomers) by computing force fields for the target compounds, and
then predicting their conformations using molecular dynamics and
configurational-biased simulations. This methodology enables the design of
small amphiphilic polymers or oligomers, taking into account backbone
structures, side-chain architectures and solvent effects, and improves the
likelihood of synthesizing compounds with desired properties.
These computational methods were used in the design of PolyMedix's defensin
mimetic antibiotic compounds, which represent a new class of antibiotic drugs
and antimicrobial biomaterials that are believed to work in such a way that
makes bacterial resistance unlikely to develop. PolyMedix's lead
defensin-mimetic antibiotic compound is PMX-30063, currently in Phase I
clinical development. On December 10, 2008, PolyMedix announced the results of
the first Phase I human clinical study with PMX-30063. The results of that
study suggest that it should be possible to achieve clinically therapeutic
levels with daily doses of PMX-30063 which are lower than those associated with
any adverse effects seen in the single dose study. On May 15, 2009, PolyMedix
announced that it had received regulatory clearance from Health Canada to
initiate a second Phase I clinical study with PMX-30063. This Phase IB clinical
study will assess the safety of PMX-30063 given repeatedly over a period of
several days. The initial indication planned for PMX-30063 is as a treatment
for pan-Staphylococcal infections, including MRSA (methicillin-resistant
Staphylococcus aureus).
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 for LMWHs, and 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.
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: Company:
PolyMedix, Inc.
Lona Cornish, 484-598-2340
lcornish@polymedix.com
or
Investors:
Erika Moran
emoran@investorrelationsgroup.com
or
Media:
The Investor Relations Group
Laura Colontrelle, 212-825-3210
lcolontrelle@investorrelationsgroup.com
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