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PolyMedix Defensin-Mimetic Antibiotic PMX-30063 Active Against NDM-1 Drug-Resistant Bacteria

RADNOR, Pa.--(BUSINESS WIRE)--Apr 28, 2011 - PolyMedix, Inc. (OTC BB: PYMX), a biotechnology company focused on developing new therapeutic drugs to treat patients with acute infectious diseases and cardiovascular disorders, announced today that its lead defensin-mimetic antibiotic, PMX-30063, has shown activity in an in vitro laboratory test against the NDM-1 drug resistant strain of Klebsiella pneumonia. NDM-1 (New Delhi metallo-beta-lactamase-1) is an enzyme carried by some bacteria that are resistant to many antibiotics, including carbapenems. PMX-30063 is currently being studied in a Phase 2 clinical trial in patients for treatment of Acute Bacterial Skin and Skin Structure Infections caused by Staph bacteria.

“NDM-1 resistant bacteria are an emerging infectious threat of growing concern to the medical community,” commented Nicholas Landekic, President & CEO of PolyMedix. “We believe PMX-30063, with its unique mechanism of action that makes the development of resistance unlikely, has the potential to represent a novel approach to address this mounting problem.”

These data were presented in March 2011 to the medical community at the SuperBugs SuperDrugs conference in London by Dr. Richard Scott, Vice President of Research at PolyMedix. At the same conference, Dr. Scott also presented results with PolyMedix's defensin-mimetic antimicrobial compounds related to additional indications, including activity against Candida albicans for oral candidiasis. These results, along with data showing anti-inflammatory properties of PolyMedix's defensin-mimetic compounds, were published in a recent issue of Molecular Oral Microbiology. These anti-inflammatory properties may be important and beneficial in the treatment of a variety of infectious disorders, and appear to be a distinct characteristic not seen in many other antibiotic agents.

“We are very excited by the breadth and scope of our defensin-mimetic antibiotic compounds,” commented Dr. Scott. “We continue to demonstrate expanded spectrums of activities, most recently against anthrax and NDM-1 drug resistant strains. In addition, our demonstration of inherent anti-inflammatory activity is potentially an important distinction versus other antibiotics. We remain dedicated to exploring the potential for our compounds to address a number of increasingly troubling infectious diseases, including fungal infections, malaria, tuberculosis, and food borne pathogens.”

About PolyMedix, Inc.

PolyMedix is a publicly traded biotechnology company focused on the development of novel drugs for the treatment of serious infectious diseases and acute cardiovascular disorders. PolyMedix uses a rational drug design approach to create non-peptide, small-molecule drug candidates. PolyMedix's lead antibiotic compound, PMX-30063, is currently in a Phase 2 clinical trial for treatment of Acute Bacterial Skin and Skin Structure Infections (ABSSSI) caused by Staph, including MRSA. PMX-30063 is a small-molecule that mimics the mechanism of action of human host defense proteins, a mechanism that is distinct from currently approved antibiotic drugs and is intended to make bacterial resistance unlikely to develop. PolyMedix's lead heptagonist compound, PMX-60056, is in a Phase 2 clinical trial in patients undergoing PCI procedures. PMX-60056 is designed to reverse the anticoagulant activity of both heparin and low molecular weight heparins (LMWH). PolyMedix believes that PMX-60056 could potentially be a safer and easier to use anticoagulant reversing agent, with broader activity, than the currently approved therapy for reversing heparin and LMWH. In addition to its small molecule therapeutics, PolyMedix has polymeric formulations with the same mechanism of action as PMX-30063, PolyCides®. PolyCides are intended for use in antimicrobial biomaterials applications as additives to paints, plastics, and textiles to create self-sterilizing products and surfaces.

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, uncertainties and assumptions 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 in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are PolyMedix's need for, and the availability of, substantial capital in the future to fund its operations and research and development, and the fact that PolyMedix's compounds may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors 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, except as required by applicable law or regulation.

Posted: April 2011