Proteo Inc./Proteo Biotech AG - Minapharm/Rhein Minapharm Biogenetics SAE: Approval for a Phase II Clinical Trial with Elafin...
December 10 2008 - 4:27AM
Business Wire
Proteo, Inc. (OTCBB: PTEO; Frankfurt Freiverkehr: WKN: 925981) and
its wholly-owned subsidiary Proteo Biotech AG together with
Minapharm Pharmaceuticals SAE (Cairo and Alexandria Stock Exchange:
MIPH) and its subsidiary Rhein Minapharm Biogenetics SAE announced
today that the responsible authority in Cairo has granted approval
for a Phase II clinical trial to study the efficacy of Elafin on
kidney transplant patients. The study will be conducted as a
randomized, double-blinded, placebo-controlled Phase II trial for
prevention of acute and chronic allograft nephropathy at the
University of Cairo. The aim of the trial is to investigate the
effectiveness of Elafin at suppressing the inflammatory processes
that frequently occur after transplantation and contribute to organ
rejection and accelerated aging of the transplanted organ. A
further Phase II clinical trial on patients undergoing
esophagectomy for esophagus carcinoma has already been started in
the Clinic for General and Thorax Surgery at the University
Hospital of Schleswig-Holstein, Campus Kiel. In 2007 Proteo and
Minapharm have entered into a license agreement for the clinical
development, production and marketing of Elafin in Egypt, Middle
Eastern and African countries. Proteo will receive an upfront
payment, milestone-payments and royalties on net product sales. In
addition, Minapharm will take over the funding of clinical research
activities for the designated region. About Elafin The
developmental drug Elafin is produced naturally in humans and
inhibits enzymes responsible for the formation of circulating
factors (cytokines) that can cause inflammatory reactions. In
kidney transplantation these inflammatory processes are considered
to be responsible for the occurrence of acute rejections and
chronic damages of the transplanted organ. The anti-inflammatory
properties of Elafin during and the first few days after
transplantation should ensure a rapid resumption of normal kidney
function without chronic injuries caused by the endogenous
inflammatory mechanisms. About Proteo The company researches,
develops and markets compounds for biological and medical research
as well as for use as pharmaceuticals. PROTEO holds the production
and utilization rights for recombinant human 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.de). About Minapharm Minapharm,
headquartered in Cairo with its production facilities in the tenth
of Ramadan, is among the leading prescription medicine companies in
Egypt and the Middle East. The company is specialized in the
manufacture and marketing of innovative pharmaceuticals and through
its subsidiary Rhein-Minapharm-Biogenetics, in the research,
development and manufacturing of biopharmaceuticals. Its biotech
subsidiary is focussing on the core therapeutic areas of liver
disease and thrombosis & haemostasis. With three therapeutic
proteins already marketed and several in the pipeline, Minapharms
competence lies in decreasing time to market without compromising
ethical and safety standards. By combining its expertise in
pharmaceuticals and leadership in biopharmaceuticals Minapharm,
along with its worldwide strategic alliances, contributes
significantly to the quality of life of many people in the region.
Minapharm employs a collective workforce of over 700 and is listed
on the Cairo and Alexandria stock exchange (www.minapharm.com)
Forward-Looking Statements 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-KSB 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.
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