PALO ALTO, Calif., June 15 /PRNewswire-FirstCall/ -- Avicena Group, Inc. , a late stage biotechnology company focused on commercializing its proprietary cellular energy modulation technology, announced today its participation at the Huntington’s Disease of America Society’s 22nd Annual Convention, which will take place June 15 - 17, 2007 in Oklahoma City, OK.
Belinda Tsao-Nivaggioli, CEO of Avicena, will give a presentation on the Company’s Huntington’s Disease (HD) Clinical program on Saturday, June 16, at 4:15 p.m. in a panel on Potential New Therapies for HD. Dr. Tsao-Nivaggioli will also participate in the HD Research Today roundtable on Sunday, June 17 at 8:00 a.m. Further, Avicena is sponsoring the convention’s “New to HD/At Risk” conference track.
Dr. Tsao-Nivaggioli stated, “We’re pleased to participate in this convention which brings the entire HD community - physicians, patients and care givers - together. These conventions are critical to advance the science for the treatment of Huntington’s disease, a disease for which there are no treatment options. We look forward to sharing our knowledge and expertise and we are particularly excited to share our treatment approach for pre- symptomatic patients.”
Avicena is currently developing HD-02, a novel drug candidate for the treatment of HD. HD-02 has been granted orphan drug designation by the United States Food and Drug Administration (FDA).
Results from a recently completed the Phase II study of HD-02, which were published in the journal Neurology, showed the drug to be safe and well- tolerated. Equally important, the findings also indicated the reduction of an oxidative marker in patients with Huntington’s disease. The Phase II clinical study of HD-02 was conducted at Massachusetts General Hospital in collaboration with Dr. Steven Hersch and Dr. Diana Rosas.
Avicena intends to collaborate with Dr. Hersch and the Huntington Study Group to initiate a Phase III trial in early 2008 following completion of a chronic toxicology study that is currently underway. Separately, Avicena is initiating the first HD therapeutic trial among healthy and pre-symptomatic Huntington’s disease subjects to investigate HD-02’s ability to delay onset of the disease.
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 studies by Dr. Hersch and Dr. Rosas have optimized the dosing of HD-02 and provided further evidence supporting its potential to slow HD.
In preclinical studies performed by Dr. Flint Beal of Cornell Medical Center and Dr. Robert Ferante of Boston University, 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 U.S. suffer from Huntington’s disease and an additional 150,000 Americans are carriers of the Huntington’s gene. Carriers of the Huntington’s gene will develop this deadly disease 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. Near term, Avicena intends to initiate a Phase III trial in Huntington’s disease to accompany the ongoing 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 dermaceutical ingredients to skin care manufacturers.
SAFE HARBOR
This release contains forward-looking statements that reflect, among other things, management’s current expectations, plans and strategies, 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, 2006, 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) Stephanie Carrington / Sara Ephraim / (investors) (646) 536-7017 / 7002 scarrington@theruthgroup.com or sephraim@theruthgroup.com Janine McCargo / Jason Rando (media) (646) 536-7033 / 7025 jmccargo@theruthgroup.com or jrando@theruthgroup.com
Avicena Group, Inc.
CONTACT: Investors, Stephanie Carrington, +1-646-536-7017,scarrington@theruthgroup.com, or Sara Ephraim, +1-646-536-7002,sephraim@theruthgroup.com, or media, Janine McCargo, +1-646-536-7033,jmccargo@theruthgroup.com, or Jason Rando, +1-646-536-7025,jrando@theruthgroup.com, all of The Ruth Group, on behalf of Avicena Group
Web site: http://www.avicenagroup.com/
