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PTC Therapeutics, Inc. Announces $17.2 Million Award From The United States Defense Threat Reduction Agency


10/2/2006 9:03:09 AM

SOUTH PLAINFIELD, N.J., Oct. 2 /PRNewswire/ -- PTC Therapeutics, Inc. (PTC), a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small-molecule drugs that target post-transcriptional control processes, today announced that it has received a $17.2 million award from the United States Defense Threat Reduction Agency (DTRA) for the discovery and development of broad-spectrum small-molecule antibacterials that may be applicable against biowarfare or bioterrorism agents. PTC plans to utilize the three-year contract to fund the discovery and development of small-molecule compounds through the initiation of Phase 1 clinical trials.

PTC has applied its expertise in addressing RNA biology with small-molecule drugs to identify compounds to combat bacterial infections through post-transcriptional control processes. In in vitro tests, the lead compounds in PTC's antibacterial program demonstrated significant activity against several drug-resistant strains of bacteria, including methicillin-resistant and multidrug-resistant Staphylococcus aureus and vancomycin-resistant Enterococci. These antibacterial effects have been achieved without toxicity in human cell lines with the lead compounds exhibiting favorable pharmacokinetic properties.

"We are honored to receive this award from the Defense Threat Reduction Agency to develop novel antibacterial agents. The DTRA award is another example of the potential applicability of our post-transcriptional drug discovery technologies to a wide range of therapeutic areas," commented Stuart W. Peltz, President and CEO of PTC Therapeutics, Inc. "The DTRA award allows us to diversify our pipeline to include antibacterial agents targeting post-transcriptional control mechanisms."

About the Defense Threat Reduction Agency (DTRA)

The Defense Threat Reduction Agency (DTRA) safeguards America and its allies from weapons of mass destruction by providing capabilities to reduce, eliminate, and counter the threat, and mitigate its effects. This Department of Defense agency is located at Fort Belvoir, Va., and operates field offices worldwide.

The Chemical and Biological Technologies Directorate within DTRA provides direct Science and Technology (S & T) support for the nation's defense through its many medical and physical (non-medical) S & T programs and initiatives to improve U.S. defensive capabilities against Chemical and Biological Weapons and to protect the safety of U. S. forces operating in a contaminated environment.

About PTC Therapeutics, Inc.

PTC is a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small-molecule drugs that target post-transcriptional control processes. Post-transcriptional control processes regulate the rate and timing of protein production and are of central importance to proper cellular function. PTC has assembled proprietary technologies and extensive knowledge of post-transcriptional control processes that it applies in its drug discovery and development activities. PTC's current pipeline of clinical and preclinical product candidates addresses multiple indications, including genetic disorders, oncology, and infectious diseases.

Source: PTC Therapeutics, Inc.

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