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Biotech / Medical : Essential Therapeutics (ETRX) formerly Microcide (MCDE -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (404)	1/6/2003 8:08:27 PM
From: tuck	Read Replies (1) \| Respond to of 415

>>WALTHAM, Mass., Jan. 6 /PRNewswire-FirstCall/ -- Essential Therapeutics, Inc. (Nasdaq: ETRX - News) today announced that it has completed its Phase I trial for ETRX 101, and that based upon its review of the Phase I data and the data from recently completed non-clinical studies, the Company has decided not to continue the development of ETRX 101. The Company indicated that neither the Phase I data nor the non-clinical data generated by the Company showed signs of sufficient efficacy to support the continuation of development of ETRX 101 as a single agent. "We are obviously disappointed with the results of the ETRX 101 Phase I study and the non-clinical results we have received," said Mark Skaletsky, President and Chief Executive Officer of Essential Therapeutics. "We intend to refocus our efforts to our other potential products and to actively pursue strategic in-licensing opportunities that will maximize the likelihood of success for accelerating our commercial goals," Skaletsky added. The Company continues to progress in developing its novel broad-spectrum azole and its fungal efflux pump inhibitor for treating serious fungal infections. Additionally, the Company has initiated pre-clinical proof-of-concept studies on a small molecule therapeutic for wound healing applications. As previously announced, the Company's parenteral cephalosporin candidate, partnered with Johnson & Johnson Pharmaceutical Research & Development, L.L.C., continues in Phase I clinical trials.<< snip Cheers, Tuck