PALO ALTO, Calif., April 25 /PRNewswire-FirstCall/ -- Avicena Group, Inc. , a biotechnology company focused on commercializing its proprietary cellular energy modulation technology, announced today that the pharmaceutical magazine R&D Directions selected Avicena’s lead Huntington’s disease drug candidate, HD-02, as one of the “100 Great Investigational Drugs of 2007" in the March issue.
R&D Directions included HD-02 in the “100 Great Investigational Drugs 2007" list based on the drug candidate’s potential to address a major medical need in a growing therapeutic area. In previous preclinical studies, HD-02 demonstrated a significantly improved survival rate and a reduction in the rate of brain atrophy. In clinical studies, HD-02 has demonstrated the ability to significantly reduce levels of the Huntington’s disease marker as well as to slow the rate of disease progression. Avicena plans to initiate a Phase III trial with HD-02 early 2008.
“We are excited that R&D Directions has recognized our efforts to develop HD-02,” stated Belinda Tsao-Nivaggioli, Avicena’s chief executive officer. “We believe that HD-02 represents a significant opportunity to bring an effective treatment to a disease area that currently has no FDA approved treatment options available.”
ABOUT HD-02
HD-02 is novel drug candidate for the treatment of Huntington’s disease (HD) with orphan drug designation in the U.S. Avicena has recently completed a Phase II clinical study of HD-02 led by Dr. Steven Hersch of Massachusetts General Hospital. Results from this study, which were published in the journal Neurology, showed that HD-02 reduced the Huntington’s disease marker, which some researchers have linked to reduced brain injury. Further, HD-02 was shown to slow the rate of disease progression.
In preclinical studies performed by Dr. Flint Beal of Cornell Medical Center, HD-02 has shown significant neuroprotective effects such as improved motor movement and increased survival rate.
ABOUT HUNTINGTON’S DISEASE
HD is a progressive neurodegenerative disease caused by a defective gene that is often inherited from parent to child. This genetic defect causes a programmed deterioration of neurons in those parts of the brain that are responsible for controlling cognitive, emotional and motor functions. This progressive deterioration results in a variety of symptoms including uncontrolled muscle movement, loss of intellectual capacity, and severe emotional disturbances.
Approximately 35,000 people in the US suffer from Huntington’s disease. It is estimated that an additional 250,000 Americans carry the Huntington’s gene and will develop this deadly disease sometime during their lifetime.
ABOUT AVICENA
Avicena Group, Inc. is a late stage biotechnology company focused on developing products based on its proprietary understanding of the regulation of cellular energy processes. The company’s core technologies, supported by a robust IP portfolio, have broad applications in both pharmaceuticals and dermaceuticals. Avicena’s pharmaceutical program centers on rare neurological disorders (orphan diseases). The company is currently analyzing data from its Phase IIb/III trial in ALS (Amyotrophic Lateral Sclerosis, or Lou Gehrig’s disease). Near term, Avicena intends to initiate a Phase III trial in Huntington’s disease to accompany its on-going Phase III trial in Parkinson’s disease. Avicena’s science is well established and its products are safe and well tolerated. Unlike traditional biotechnology companies, Avicena’s clinical programs are largely funded by government and non-profit organizations. Avicena presently derives revenue from the sale of proprietary ingredients to skin care manufacturers.
SAFE HARBOR
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management’s current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. See “Risk Factors” under “Item 6. Management’s Discussion and Analysis of Financial Condition and Results of Operation” from our Annual Report on Form 10-KSB for the year ended December 31, 2005, and other descriptions in the company’s public filings with the Securities and Exchange Commission for a discussion of such risks, including the company’s need for additional funds, the company’s dependence on a limited number of therapeutic compounds, the stage of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company’s ability to avoid infringement of the patent rights of others, and the company’s ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Avicena does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Contact: The Ruth Group (on behalf of Avicena Group) Sara Ephraim / (investors) (646) 536-7002 Janine McCargo / Jason Rando (media) (646) 536-7033 / 7025
Avicena Group, Inc.
CONTACT: Investors, Sara Ephraim, +1-646-536-7002, or Media, JanineMcCargo, +1-646-536-7033, or Jason Rando, +1-646-536-7025, all of The RuthGroup, on behalf of Avicena Group
Web site: http://www.avicenagroup.com/
