Excerpts from the Millennium Financial Group Report on ZymeTx (continued)
ZymeTx is a biotechnology company which innovates new methods and products for the diagnosis and treatment of viruses. In recent years advances in microbiology have changed the manner in which viruses are understood. ZymeTx's technology focuses on the gene-coding of enzymes which allows it to exploit certain unique characteristics, historically thought to have been insignificant. Clinical trials conducted by the company have proved that it can identify the presence of certain enzymes in the host virus which can be targeted specifically.
The company's technology was developed in partnership with the Oklahoma Medical Research Foundation (OMRF), the fourth largest independent research foundation in the U.S. and most renowned for its work in molecular biology. In January 1996 the company's management and core scientific team joined ZymeTx from OMRF. OMRF continues to remain the company's second largest shareholder with 5.1% of total outstanding shares.
The crux of the ZymeTx technology, patented under the name "ViraZyme", is the identification of pertinent target sites of viral enzymes and selective action on them by synthetically produced molecules. ZymeTx asserts that this approach towards viruses is effective, not only in the development of diagnostics, but will also lead to the discovery of closely related therapies. Antivirals are relatively new, and the outlook for this therapeutic approach is for aggressive growth. (The current edition of the Physician's Desk Reference lists only 20 antiviral agents out of 20,000 FDA approved drugs.)
Diagnosis
The company's diagnostic process is based on a two-part compound which splits when the compound comes in contact with a targeted enzyme. As a result of the split of the compound, one of its elements becomes visible to the naked eye when collected using the method and devices provided by the company. The 100% reliability of the diagnostic kit has allowed the company to coin the phrase: "If it's blue, it's flu".
Treatment
ViraZyme inhibitors used in therapeutic products -- derivatives of the diagnostic compound -- are used to fuse and isolate targeted enzymes and thus arrest their infectious capabilities during therapeutic applications.
Corporate Strategy
ZymeTx will initially target respiratory viruses which will include influenza A and B, respiratory syncytial virus (RSV), parainfluenza, and adenovirus. The company will branch out to other non-respiratory infections such as herpes simplex (HSV) and cytomegalovirus (CMV). ZymeTx intends to develop therapeutic and diagnostic products for an array of viral diseases. Furthermore, the company indents to utilize funds generated from the launch of its first product, the ZstatFlu diagnostic to finance its future therapeutic and diagnostic R & D. ZymeTx does not anticipate a need for further capital until 1999.
more to come.... |
