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PolyMedix Inc. (PYMX.OB) Announces Departure of CEO, Appointment of Interim CEO



1/31/2013 9:50:58 AM

RADNOR, Pa., Jan. 30, 2013 (GLOBE NEWSWIRE) -- PolyMedix, Inc. (OTCBB:PYMX), a biotechnology company dedicated to developing novel treatments for infectious diseases with defensin-mimetic antimicrobials, today announced that Nicholas Landekic's employment with the company has ceased and that he will be pursuing other interests. Mr. Landekic was the company's president and chief executive officer and Edward F. Smith, who has served as the company's chief financial officer since January 2006, has been appointed as the interim president and chief executive officer.

PolyMedix remains committed to pursuing its strategic and financial alternatives in its efforts to increase stockholder value.

About PolyMedix, Inc.

PolyMedix is a clinical stage biotechnology company dedicated to transforming the treatment of infectious diseases. PolyMedix is developing a new class of antibiotics – defensin-mimetics – for the treatment of serious, life-threatening infections which often develop resistance to currently available antibiotics. PolyMedix's compounds are designed to imitate the mechanism of action of host defense proteins, which contribute to natural human immunity. In contrast to existing antibiotics, PolyMedix's lead antibiotic compound, brilacidin (formerly PMX-30063), was designed to exploit a method of bacterial cell killing, via biophysical membrane attack, against which bacteria have not shown development of resistance in multiple preclinical studies.

PolyMedix has internally developed an extensive pipeline of compounds, including other defensin-mimetic antimicrobial compounds for other infectious diseases, such as Gram-negative pathogens, fungal infections, and malaria.

For more information, please visit our website at www.polymedix.com.

The PolyMedix, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10449

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause PolyMedix's actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. PolyMedix has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are PolyMedix's need for, and the availability of, substantial capital in the future to fund its operations and research and development; the fact that PolyMedix may not be successful in obtaining financing or completing an alternative transaction, and the fact that PolyMedix's compounds may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in PolyMedix's filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. PolyMedix undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

Lona Cornish
484-598-2340

Read at BioSpace.com


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