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Dipexium Pharmaceuticals Initiates Pivotal Phase 3 Clinical Trial of Locilex

NEW YORK, July 17, 2014 /PRNewswire/ -- Dipexium Pharmaceuticals, Inc. (NASDAQ: DPRX) today announced it has initiated patient enrollment in the first of two pivotal Phase 3 clinical trials, known as OneStep-1 and OneStep-2, evaluating Locilex (pexiganan cream 0.8%), the company's novel, broad-spectrum, topical antibiotic peptide, for the treatment of patients with mild infections of diabetic foot ulcers, or Mild DFI. According to medical literature, approximately 47% of all patients with diabetic foot infections first present at the mild stage. Currently, there are no antibiotics, systemic or topical, which are FDA approved specifically to treat patients with Mild DFI. The U.S. Food and Drug Administration has agreed to a Special Protocol Assessment (SPA) with Dipexium for Locilex's pivotal Phase 3 clinical trial program in Mild DFI.

"Current therapy for Mild DFI is a choice between several systemic antibiotics prescribed 'off-label.' These products are associated with systemic side effects, including black box warnings, and are known to contribute to the proliferation of resistant bacteria," said David P. Luci, President & Chief Executive Officer of Dipexium. Robert J. DeLuccia, Executive Chairman of Dipexium, added "Locilex®'s profile is emerging as truly differentiated and well suited for potential use as front-line therapy in Mild DFI. In a prior Phase 3 clinical trial in Mild DFI, topical Locilex® demonstrated non-inferiority to an oral fluoroquinolone antibiotic. Pexiganan, the active pharmaceutical ingredient in Locilex®, has demonstrated bactericidal activity against several of the most difficult to treat resistant bacteria, or 'superbugs,' known to cause diabetic foot infections, including methicillin-resistant staphylococcus aureus (MRSA), vancomycin-resistant enterococci (VRE), extended-spectrum beta-lactamase (ESBL), and other multi-drug resistant (MDR) bacteria. In over 500 patients treated to date, Locilex® has demonstrated an excellent safety and tolerability profile, no systemic absorption, and no bacterial resistance or cross-resistance to other antibiotics. We look forward to completing the OneStep trials, which we anticipate will occur in the first quarter of 2015."

OneStep-1 and OneStep-2 Trial Design

OneStep-1 and OneStep-2 are identical, double-blind, placebo-controlled clinical trials conducted simultaneously that will each enroll approximately 180 patients at 20 separate centers in the United States. The primary objective is to establish the clinical superiority and safety of topical Locilex® plus standard local wound care as compared to placebo cream plus standard local wound care, in the treatment of Mild DFI. Patients will be randomized 1:1 to receive either topical Locilex® plus standard local wound care or placebo cream plus standard local wound care for 14 days, with final evaluation at day 28.

The primary endpoint of the trials is clinical response, which is defined as infection resolved per the judgment of each treating physician using the 2012 Infectious Disease Society of America (IDSA) Clinical Practice Guideline for the Diagnosis and Treatment of Diabetic Foot Infections. Secondary endpoints include microbiological success, which is defined as complete microbiological response, as well as the incidence and severity of adverse events.

Additional information on the OneStep-1 and OneStep-2 trials can be found at www.clinicaltrials.gov or at Dipexium's website at www.dipexiumpharmaceuticals.com. Video of presentations made at Dipexium's Phase 3 Investigators' Meeting conducted in May 2014 can be found at Dipexium's website. These include presentations by Benjamin A. Lipsky, MD, FACP, FIDSA, FRCP, Chair of the OneStep trials and lead author of the 2012 IDSA Clinical Practice Guideline for the Diagnosis and Treatment of Diabetic Foot Infections, as well as Warren S. Joseph, DPM, FIDSA, Vice-Chair of the OneStep trials, and co-author of the 2012 IDSA Clinical Practice Guideline for the Diagnosis and Treatment of Diabetic Foot Infections.

About Dipexium Pharmaceuticals

Dipexium Pharmaceuticals, Inc. (NASDAQ: DPRX) is a late-stage pharmaceutical company focused on the development and commercialization of Locilex® (pexiganan cream 0.8%), a novel, broad spectrum, topical antibiotic peptide. Initially, Locilex® is targeted for the treatment of Mild DFI. Based on a compilation of available clinical and microbiology data, Locilex® is also considered a promising product candidate to treat other mild and moderate skin and skin structure infections, including infected decubitus ulcers, infected burns, infected surgical wounds and nasal colonization of methicillin-resistant staphylococcus aureus (MRSA).

Cautionary Note on Forward-Looking Statements

This press release and any statements of representatives and partners of Dipexium Pharmaceuticals, Inc. (the "Company") related thereto contain, or may contain, among other things, certain "forward-looking statements" within the meaning of the U.S. federal securities laws. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission and those that relate to the Company's ability to leverage the expertise of employees and partners to assist the Company in the execution of its strategy. Actual results (including, without limitation, the timing for and results of the clinical trials and proposed NDA submission for Locilex®) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Dipexium Pharmaceuticals, Inc.

Posted: July 2014

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