Avicena Scientific Collaborator Advances Program for Using Energy Enhancing Molecules to Treat Neuromuscular Diseases
PALO ALTO, Calif., August 24, 2007 /PRNewswire-FirstCall/ -- Avicena Group, Inc. , a late stage biotechnology company that develops central nervous system therapeutics for neurodegenerative diseases, announced today that Mark A. Tarnopolsky, MD, PhD, FRCPC, professor at McMaster University in Hamilton, Ontario, Canada, presented a summary of findings demonstrating the positive effect of energy enhancing compounds for the potential treatment of neuromuscular diseases.
The findings were presented at the 10th International Congress on Amino Acids and Proteins (ICAAP) in Kallithea, Chalkidiki, Greece and is part of an ongoing collaborative program with Avicena to identify energy enhancing molecules as potential therapeutic agents for applications in neuromuscular diseases.
Avicena Group, Inc. is a Palo Alto, California based late stage biotechnology company that develops central nervous system therapeutics for neurodegenerative diseases. The company's core technologies, supported by a robust IP portfolio, have broad applications in both pharmaceuticals and dermaceuticals. Avicena's pharmaceutical program centers on rare neurological disorders (orphan diseases). The company is currently analyzing data from its Phase IIb/III trial in ALS. Near term, Avicena intends to initiate a Phase III trial in Huntington's disease to accompany the ongoing NIH Phase III trial in Parkinson's disease. Avicena's science is well established and its products are safe and well tolerated. Unlike traditional biotechnology companies, Avicena's clinical programs are largely funded by government and non-profit organizations. Avicena presently derives revenue from the sale of proprietary dermaceutical ingredients to skin care manufacturers.
This release contains forward-looking statements that reflect, among other things, management's current expectations, plans and strategies, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. See "Risk Factors" under "Item 6. Management's Discussion and Analysis of Financial Condition and Results of Operation" from our Annual Report on Form 10-KSB for the year ended December 31, 2006, and other descriptions in the company's public filings with the Securities and Exchange Commission for a discussion of such risks, including the company's need for additional funds, the company's dependence on a limited number of therapeutic compounds, the stage of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company's ability to avoid infringement of the patent rights of others, and the company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Avicena does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Contact: The Ruth Group (on behalf of Avicena Group) Stephanie Carrington / Sara Ephraim / (investors) (646) 536-7029 / 7002 / Janine McCargo / Jason Rando (media) (646) 536-7033 / 7025 /firstname.lastname@example.org email@example.com firstname.lastname@example.org email@example.com
CONTACT: Investors: Stephanie Carrington, +1-646-536-7029,, or Sara Ephraim, +1-646-536-7002,; or Media: Janine McCargo, +1-646-536-7033,, or Jason Rando, +1-646-536-7025,, all for Avicena Group, Inc. firstname.lastname@example.org email@example.com firstname.lastname@example.org email@example.com
Ticker Symbol: (NASDAQ-OTCBB:AVGO)
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Posted: August 2007