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AFID Therapeutics Inc. Engages Pharmaceutical Industry: Makes Bold Bid To Be Known As The Provider Of The Most Advanced Drug Discovery Chemistry

10/19/2005 5:08:59 PM

LANSING, Mich., July 13 /PRNewswire/ -- AFID Therapeutics Inc. announced the launch of the first phase of its campaign to establish itself as the provider of the most advanced drug discovery chemistry in the industry. An array of potential therapeutic agents or drug leads featuring synthetically challenging optically active centers and functionalities are being provided. They have not been made or tested before and are being made available for a very limited time at prices 100 times lower than the norm for compounds of comparable complexity in a move meant to raise the industry expectations for the level of chemistry from providers. Small companies with limited budgets and biology based companies with little or limited in-house chemistry but with proprietary targets can benefit tremendously. The compounds are also launching points into a new chemistry structure space. As projects emerge contract synthesis groups and chemical manufacturers will be brought into the picture in strategic partnerships.

The AFID Therapeutics' offerings are aimed at targets such as kinases, proteases, phosphatases, glycosidases, glycosyltransferases, ribosomes, nucleic acids, monamine oxidases, adrenergic receptors and nucleic acids. The diseases covered include cancer, diabetes, neurological disorders, hepatitis and other viral and bacterial infections. The libraries can be viewed at or in the next few issues of Genetic Engineering News starting with the July 1, 2004 issue (page 35). A direct mail campaign targeting pharma, biotech and non-profit research institutions has also been launched.

"One of my goals as a chemist is to raise the bar on the level of sophistication and complexity of the chemistry that can be obtained free and clear with no IP issues just by writing a purchase order" says Rawle Hollingsworth, Chief Scientific Officer and Founder of AFID Therapeutics. "The pharmaceutical sector needs new molecules with big potential that cover old themes and introduce new ones. It needs new molecular prospects. The AFID Therapeutics chemistry platform can provide this because we can capture and exploit the rich bounty of chemical functionality in the most abundant and complex molecules on earth ... carbohydrates. If one of our molecules leads to a new drug and our chemistry is really the best we will figure in the final picture. We believe that few companies can follow our lead in this structure space."

AFID Therapeutics is cultivating an assertive market stance with an informed perspective. It was the first start-up firm to receive support from the "Rational Siting Push-Pull Accelerator" (RSPPA) grant to Michigan State University (MSU) from the Michigan Technology Tri-Corridor. "With our community collaborators in Midland and Lansing, we are excited about fostering a range of start-ups in Michigan," said Loraine J. Hudson, the MSU Director of Intellectual Property. "AFID Therapeutics has licensed a broad portfolio of important MSU chiral technologies which includes dozens of issued and pending US and international patents."

AFID Therapeutics Inc.

CONTACT: Rawle Hollingsworth of AFID Therapeutics Inc., +1-517-353-0613,or +1-517-336-4663

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