NEWS!irus
Potential HIV Antiviral Developed in Collaboration with Oklahoma Medical
Research Foundation
OKLAHOMA CITY, May 14 /PRNewswire/ -- ZymeTx, Inc. (Nasdaq: ZMTX), a development stage biotechnology company and emerging leader in the diagnosis and management of viral diseases, announced today it has signed a letter of intent with the Oklahoma Medical Research Foundation (OMRF) to license a technology that has demonstrated a reduction of HIV in laboratory tests. HIV is the virus that leads to AIDS.
The lead compound, in a family of compounds, internally designated ZX0851, has the potential to be used as a single therapy but may also have application as part of a "drug cocktail" -- a diverse mix of therapeutic compounds commonly used to treat the virus. The drug must clear significant pre-clinical and Phase I-III Clinical Trials before it may be approved for marketing. It is the Company's intention to file an initial new drug (IND) application with the U.S. Food and Drug Administration following the successful completion of current pre-clinical studies.
Peter G. Livingston, ZymeTx President and Chief Executive Officer, commented: "We are cautiously optimistic about this development because it may represent a new method of treating HIV infections. Conducting appropriately controlled clinical trials is a significant challenge in any therapeutic category, especially in HIV where the consequences are so critical. Currently, the drugs available for the treatment of HIV all work by inhibiting either the HIV protease or the reverse transcriptase enzyme. Our understanding of this technology leads us to believe this is a novel approach different than the current treatments for HIV infections."
Dr. J. Donald Capra, President of the Oklahoma Medical Research Foundation, remarked: "The partnership with ZymeTx has been very fruitful for the Foundation. With access to capital markets and the Company's internal product development capabilities, we believe ZymeTx can effectively manage new product development from the laboratory stage to physician's offices."
About OMRF
The Oklahoma Medical Research Foundation, based in Oklahoma City, is a non-profit biomedical research facility specializing in several research areas. The Foundation is staffed with over 450 personnel including at least 35 nationally recognized scientists conducting research in areas including AIDS, cancer, heart disease, lupus, arthritis and aging.
About the Company
ZymeTx, Inc. is a biotechnology company established in conjunction with research support from the Oklahoma Medical Research Foundation. Based in Oklahoma City, the Company is engaged in the development of unique diagnostic and therapeutic products for the detection and intervention of viral diseases.
Safe Harbor Statement
Statements in this news release that are not strictly historical, including statements as to plans, objectives and future financial performance, are "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although ZymeTx believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that the expectations will prove to be correct. Factors that could cause actual results to differ materially from ZymeTx's expectations include, among others, competition within the viral disease detection and treatment industry; the Company's access to and the market's acceptance of new products; the Company's ability to market therapeutic products; the Company's ability to establish and/or expand contractual relationships with managed care organizations; the effects of economic conditions and government regulation on the healthcare market and on reimbursement policies; as well as the risks, uncertainties and other factors described from time to time in the Company's periodic filings on Forms 10-Q and 10-K on file with the Securities and Exchange Commission.
Visit the ZymeTx Web Site at: zymetx.com
SOURCE ZymeTx, Inc.
CO: ZymeTx, Inc.; Oklahoma Medical Research Foundation
ST: Oklahoma
IN: MTC
SU: PDT
05/14/98 08:31 EDT prnewswire.com
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