Aida Pharmaceuticals, Inc. Announces New Antibiotic Drug Under Development
SANTA MONICA, Calif., April 9, 2008 /PRNewswire-FirstCall/ -- Aida Pharmaceuticals, Inc. today announced that its recently-acquired research institute in the Jiangsu Province, the Jiangsu Institute of Microbiology Co., Ltd or "JSIM", is developing a new wide-spectrum antibiotic, Wetimicin, in the People's Republic of China. Wetimicin is from the newest generation of amino-glycoside family of antibiotics and is being tested for the treatment of various inflammations, such as respiratory infection, urinogenital infection, soft skin tissue infection as well as infections from trauma and operations, etc. JSIM's scientists believe that it might be safer and more reliable for children and elderly patients than current drug offerings in the marketplace.
Management believes that Wetimicin will have a larger market volume than that of Etimicin Sulphate, the company's current pillar product, which is in the same family of antibiotics as Wetimicin, due to its potentially stronger applicability to a wider range of ailments. Management's experience, resources and marketing channels will play a key role in driving Wetimicin to market approval and distribution.
The research for this new drug started in 2000 and it is currently undergoing Phase 1 clinical trials in conjunction with the Chinese government's State Food and Drug Administration ("SFDA"). The company believes that Phase 2 testing will commence some time in 2008. The company will have the right of first refusal of the manufacturing and marketing of the drug once it is approved by the SFDA as a Category A innovative new drug.
About Aida Pharmaceuticals, Inc.
Aida Pharmaceuticals, Inc. is a product-focused pharmaceuticals company engaged in the formulation, clinical testing, registration, manufacture, sales and marketing of advanced pharmaceutical and genetic products in mainland China. The Company's mission is to discover, develop and market meaningful new therapies that improve human health. Aida Pharmaceuticals, in operation since March 1999, is headquartered in Hangzhou, People's Republic of China with manufacturing, distribution and sales points throughout mainland China. Aida Pharmaceuticals, Inc. is GMP-certified in the People's Republic of China and ISO9002-certified for quality assurance and ISO14000 certified for ecologically-friendly practices.
For additional information, please visit http://en.aidapharma.com.
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
CONTACT: Ashley Hull, +1-310-450-9100, opt. 1, ashley@leacapital.com, for
Aida Pharmaceuticals, Inc.; or Broker Contact, Chesapeake Group,
+1-410-825-3930, for Aida Pharmaceuticals, Inc.
Web site: http://en.aidapharma.com/