Irvine, CA, June 18, 2010 – Proteo, Inc. (OTCBB: PTEO; Frankfurter Freiverkehr: WKN: 925981) and its wholly-owned subsidiary Proteo Biotech AG announced today the signing of a cooperative research and development agreement with the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID). Under the agreement Proteo will provide USAMRIID with Elafin and related scientific data in order to plan and conduct preclinical research on the development of new therapeutic strategies to combat life-threatening infectious diseases.
Scientists from the U.S. Army Medical Research Institute of Infectious Diseases are investigating therapies to treat individuals that have become symptomatic after exposure to one of the bacterial bio-threat agents (anthrax, plague, tularemia, glanders or melioidosis). One direction their research has taken is to attempt to mitigate or alter the immunological response that in many cases is the ultimate cause of death in these infections. They are interested in investigating if Proteo’s Elafin could help as a co-therapy with antibiotics.
Proteo’s CEO, Birge Bargmann: »We are looking forward to the results of the U.S. Army Medical Research Institute of Infectious Diseases regarding the use of our Lead Product, Elafin, in preclinical models«
Proteo's drug substance Elafin is a natural human antagonist of elastase and proteinase-3, two potent tissue destroying enzymes, both of which participate in the inflammatory mechanism of a variety of diseases. Elafin's ability to block these inflammation promoting enzymes makes it a promising drug candidate for the treatment of inflammatory lung diseases and severe reperfusion injury. The excellent tolerability of intravenously administered recombinant Elafin was demonstrated convincingly in a Phase I clinical trial. The results of a Phase II clinical trial for the treatment of postoperative inflammatory reactions of esophagus carcinoma are currently being evaluated. Proteo's licensing and development partner, Minapharm Pharmaceuticals SAE, has initiated a further Phase II clinical trial on the use of Elafin in kidney transplantation patients. This trial is concerned with the prevention of acute organ rejection and chronic graft injury (allograft nephropathy) and will be conducted at the University of Cairo. As a further cooperation partner, the University of Edinburgh is planning a clinical trial to test Elafin in the context of bypass surgery after a heart attack.
The company researches, develops and markets compounds for biological and medical research as well as for use as pharmaceuticals. The main focus is on anti-inflammatory drugs, in particular on the human elastase inhibitor Elafin. Proteo intends to out-license selected indications and to establish international strategic alliances in order to open up new fields of application and for marketing (www.proteo.us).
USAMRIID, located at Fort Detrick, Maryland, is the lead medical research laboratory for the U.S. Department of Defense's Biological Defense Research Program, and plays a key role in national defense and in infectious disease research. The Institute conducts basic and applied research on biological threats resulting in medical solutions (such as vacchines, drugs and diagnostics) to protect the warfighter. While USAMRIID's primary mission is focused on the military, its research often has applications that benefit society as a whole. USAMRIID is a subordinate laboratory of the U.S. Army Medical Research and Materiel Command. For more information, visit www.usamriid.army.mil.
The information contained in this press release does not necessarily reflect the position of the policy of the Government and no official endorsement should be inferred.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements and risks and uncertainties involved are further qualified by other factors including, but not limited to those set forth in the company's Form 10-K filing and other filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Barbara Kahlke, Ph.D.
Proteo Biotech AG
Am Kiel-Kanal 44
Telephone: +49 431 8888-462
Fax: +49 431 8888-463