PITTSBURGH, March 22 /PRNewswire-FirstCall/ -- Demegen, Inc. (PRVG), a biotechnology company specializing in the development of peptides for the treatment of infectious diseases, announced today it had granted a license to Pacgen Biopharmaceuticals Corporation (Pacgen) for certain Demegen peptides for prescription and over-the-counter pharmaceutical products to treat oral diseases.
Pacgen’s initial focus will be a treatment for oral candidiasis, for which Demegen already has an approved IND. This condition is an AIDS-defining opportunistic illness that is highly prevalent in HIV-infected individuals. Other immunocompromised individuals, including cancer patients receiving chemotherapy, are also susceptible to oral fungal infections. The disease causes pain, inability to eat, and increased risk of additional infection. Oral candidiasis outbreaks often recur and maintenance therapy may be needed.
David Cheng, Ph.D., CEO of Pacgen, said: “While Pacgen has a number of anti-microbial peptides in its pipeline, we are impressed with the clinical development achieved thus far by Demegen and believe we can get to market faster by working with Demegen.”
Pacgen Biopharmaceuticals Corp. is an international biotechnology company based in Vancouver, Canada, with specialty in drug design and development in infectious diseases and immune system regulations.
Demegen develops novel and natural peptides for the treatment of bacterial and fungal infections. Demegen operates primarily with strategic partners and development efforts are underway for a number of dermatological, ophthalmic, cosmetic and agricultural applications. Other products to be developed include a treatment for cystic fibrosis infections.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (as amended, the “Act”). In particular, when used herein, the words “plan,” “estimates,” “should,” “confident that,” “believe,” “expect,” or “intend to,” and similar expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward- looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company’s products and technologies, possible delays or failures to develop and/or commercialize any technology, possible risks related to adverse clinical results, impact of alternative technology advances, inherent risks in early stage development of such technology, competitive factors, the ability to successfully complete additional financings, continuing to function as a viable going-concern, and other risks. Demegen is a non-reporting public company that is presently utilizing the name PAR Advance Technologies Corporation pending a proposed corporate reorganization.
Demegen, Inc.
CONTACT: Demegen, +1-412-621-9625, or infopr@demegen.com; or Pacgen,+1-604-436-4388, or info@pacgenbiopharm.com
