Data on PolyMedix's Heptagonist Compounds to be Presented at Annual Meeting of the American Society of HematologyRADNOR, Pa.--(BUSINESS WIRE)--Dec 6, 2007 - PolyMedix, Inc. (OTC BB: PYMX, http://polymedix.com), an emerging biotechnology company developing acute care products for infectious diseases and acute cardiovascular disorders based on biomimetics, announced that data will be presented on its heptagonist compounds at the annual meeting of the American Society of Hematology in Atlanta, Georgia.
The data will be presented in a poster on December 9, 2007, Abstract 1869, titled: "In Vitro Characterization of the Neutralization of Unfractionated Heparin and Low Molecular Weight Heparin by Novel Salicylamide Derivatives." Lead author and investigator is Dr. Walter Jeske, of Loyola University Medical Center, Maywood, Illinois, where the studies were conducted. The poster describes the activities of several PolyMedix heptagonist compounds and their abilities to reverse the action of both heparin and Low Molecular Weight Heparin. PolyMedix is planning to file an IND application for its lead heptagonist compound, PMX-60056, in the 1Q of 2008.
About PolyMedix, Inc.
PolyMedix is a publicly traded 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 drugs that mimic the activity of proteins. The Company's antibiotic compounds - small molecule mimetics of human host-defense proteins - are believed to have a completely different mechanism of action from all current antibiotic drugs, a mechanism which is intended to make bacterial resistance unlikely to develop. These compounds are being developed as rapidly acting antibiotics for serious systemic and local infections. The Company is also developing 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 reverse the activity of both heparin and low molecular weight heparins, in keeping with our goal of developing an antagonist drug that is safer and easier to use than currently approved therapy. PolyMedix plans to file IND applications during the first quarter of 2008 in anticipation of commencing human clinical trials for both its antibiotic and heptagonist compounds. 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 and 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 tried, wherever possible, to identify these forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends" and similar expressions. Among other things, there can be no assurance that PolyMedix's compounds will enter or successfully complete clinical testing or be granted regulatory approval to be sold and marketed in the Unites States or elsewhere. A more complete description of these risks, uncertainties and assumptions 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.
Lona Cornish, 484-598-2340
The Investor Relations Group
Erika Moran, 212-825-3210
Steve Melfi, 212-825-3210
Posted: December 2007