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Alliance Pharmaceutical Corp. (ALLP) Updates Clinical Development of Oxygent(TM) in China

3/16/2007 12:03:42 PM

SAN DIEGO, March 15 /PRNewswire-FirstCall/ -- Alliance Pharmaceutical Corp. previously reported that recently produced clinical supplies of Oxygent(TM) (perfluorochemical [PFC] emulsion) would be used by Alliance's partner in China, Beijing Double-Crane Pharmaceutical Co. Ltd. (Double-Crane), for Double-Crane's Investigational New Drug (IND) application to the State Food and Drug Administration P.R. China (sFDA).

In accordance with the current regulations of sFDA, the supplies for the IND application and clinical development must be manufactured in a facility in China. As a result, Alliance has agreed to accelerate the technology transfer to Double-Crane, which originally was planned to occur when Phase 3 trials were initiated in China. Because Double-Crane has considerable experience in manufacturing large-volume parenteral and IV solutions, Double-Crane has indicated to Alliance that it believes production of the relevant clinical supplies can begin in an expeditious manner. Double-Crane has also expressed a desire to supply Alliance with clinical and commercial supplies of Oxygent from its facilities, which would be contingent on Double-Crane's compliance to Current Good Manufacturing Practices (cGMP) and registration with the U.S. FDA.

Once clinical supplies are manufactured by Double-Crane, Double-Crane has indicated that it will submit its IND application for initiation of the agreed upon clinical development plan. Once sFDA approves the application, Double- Crane will start the clinical trials immediately.

Double-Crane intends to pursue an intra-operative and post-operative transfusion avoidance endpoint as the primary endpoint. Double-Crane's clinical development plan would incorporate a new protocol design which is intended to build on the previously conducted Alliance Phase 2 and Phase 3 clinical trials. In these studies, the efficacy of Oxygent in terms of drug activity, i.e., its ability to deliver oxygen which enabled patients to remain physiologically stable at lower intra-operative Hb levels, was statistically demonstrated to be better than blood. Importantly, the Double-Crane study will not employ any blood harvesting techniques (i.e., acute normovolemic hemodilution or intra-operative autologous donation), which were implicated in safety issues in a previous Alliance Phase 3 clinical trial.

Double-Crane is obligated pursuant to its agreement with Alliance to conduct clinical trials in China in accordance with International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH) Guidelines, which would allow Alliance to use any data derived from the clinical trials in other countries.

About Alliance Pharmaceutical Corp.:

Alliance Pharmaceutical Corp. is a development-stage pharmaceutical company that is currently focused on developing its lead product, Oxygent, which is based on its proprietary PFC technology. Oxygent is being developed as an intravascular oxygen carrier designed to augment oxygen delivery in surgical patients.

Except for historical information, the matters set forth in this release are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth herein. Alliance refers you to cautionary information contained in documents Alliance files with the Securities and Exchange Commission from time to time, including the last Form 10-KSB and Form 10-QSB. Alliance is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

Alliance Pharmaceutical Corp.

CONTACT: Corporate Communications of Alliance Pharmaceutical Corp.,+1-858-410-5275

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