CASTLE ROCK, Colo., May 16 /PRNewswire-FirstCall/ -- AspenBio Pharma, Inc. an emerging bio-pharmaceutical company dedicated to the development of novel drugs and diagnostics for animals and humans, has been invited to present at The Wall Street Analyst Forum’s 18th Annual Institutional Investor Conference to be held at The Princeton Club in New York City on May 22-24th, 2007.
AspenBio Pharma president and CEO, Richard Donnelly, is scheduled to address the conference at 11:50 a.m. Eastern Time on May 22, 2007. He will discuss the development status of the company’s human appendicitis blood test and recent results from ongoing clinical studies.
A simultaneous Webcast will be available at www.wsw.com/webcast/wsaf2/apnb.ob.
For more information about the conference, contact The Wall Street Analyst Forum at (802) 253-7596, or visit www.analyst-conference.com.
AspenBio has created and optimized a specialized assay test to detect a marker in the blood associated with appendicitis and has tested this assay in several on-going research trials involving hundreds of human patients. Positive results from preliminary clinical trials were announced on February 22, 2007. These include three studies which were conducted during the past 30 months, with one 400 patient study still ongoing.
Based on the data obtained to-date, the company’s AppyScore(TM) blood test has been able to identify patients with appendicitis at a very high sensitivity level of 94% to 97%. This compares to significantly lower diagnostic success rates for expensive CT scans, which are generally considered the best diagnostic method available for appendicitis.
With the AppyScore emergency room triage test and its sister product, AppyScreen(TM) designed for physician offices, AspenBio is targeting an overwhelming need for more accurate, faster, and more economical assessment of the appendicitis condition, and are anticipated to be the first and only such tests available.
The company anticipates a third quarter 2007 initial regulatory filing with the FDA. The FDA approval process for diagnostic tests is typically much shorter than for drugs, and if successfully completed and approved, management’s estimates suggest a worldwide, several hundred million dollar market potential. The patent portfolio for the AppyScore/AppyScreen appendicitis diagnostic technologies has also recently been significantly expanded.
The Wall Street Analyst Forum
Since 1988, The Wall Street Analyst Forum has been a sponsor of four annual institutional investor conferences for the CEO/CFO’s of NYSE/NASDAQ/AMEX corporations in New York, Boston and London. The Forum conferences leverages the strength of its independence to optimize the reach of participating companies, and it distinguishes its conferences by inviting all buy/sell side analyst & portfolio managers to attend while using three new media assets to “greatly extend” the reach of public companies. Analyst/portfolio managers from the vast majority of money management firms attend while large, mid, and small-cap corporations present. Over 2,500 public corporations have presented, ranging from General Electric, Nokia, Pfizer, Unilever, KB Homes to Adobe Systems. For more information, please visit visit www.analyst-conference.com.
About AspenBio Pharma, Inc.
AspenBio Pharma is an emerging bio-pharmaceutical company dedicated to the discovery, development, manufacture, and marketing of novel proprietary products, including those that enhance the reproductive efficiency of animals and that have large worldwide market potential. The company was originally formed to produce purified proteins for diagnostic applications and has become a leading supplier of human hormones to many of the nation’s largest medical diagnostic companies and research institutions. The company has successfully leveraged this foundational science and technology expertise to rapidly develop an enviable late-stage pipeline of several novel reproduction hormone analogs for wide-ranging therapeutic use initially in bovine and equine species. AspenBio Pharma continues to make exciting progress in the development and testing of its two first-generation blood-based human diagnostic tests designed to rapidly help diagnose or rule out appendicitis in patients complaining of abdominal pain. For more information, please visit: www.aspenbiopharma.com.
Forward Looking Statements
This news release includes “forward looking statements” of AspenBio Pharma, Inc. (“APNB”) as defined by the Securities and Exchange Commission (the “SEC”). All statements, other than statements of historical fact, included in the press release that address activities, events or developments that APNB believes or anticipates will or may occur in the future are forward- looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors APNB believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of APNB. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including the ability to successfully complete the development of new products, execute agreements required to successfully advance the company’s objectives, retain the scientific management team to advance the products, obtain additional funding as and if needed, adverse changes in market conditions and the regulatory environment, fluctuations in sales volumes, and realization of intangible assets. Furthermore, APNB does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this news release should be considered in conjunction with the warnings and cautionary statements contained in APNB’s recent filings with the SEC.
For more information contact: AspenBio Pharma, Inc. Greg Pusey, Chairman 303-722-4008 Investor Relations: Liolios Group, Inc. Scott Liolios or Ron Both 949-574-3860
AspenBio Pharma, Inc.
CONTACT: Greg Pusey, Chairman of AspenBio Pharma, Inc., +1-303-722-4008;or Scott Liolios or Ron Both, both of Liolios Group, Inc., +1-949-574-3860,for AspenBio Pharma, Inc.
