VANCOUVER, BC and SAN DIEGO, CA, Jan. 23 /PRNewswire-FirstCall/ - MIGENIX Inc. , a clinical-stage developer of drugs for infectious and degenerative diseases, released the Company’s 17th CEO Message today. The CEO Message provides an overview of the MX-3253 and CPI-226 clinical programs for 2006 and the first half of 2007, including the Company’s plan to initiate a combination therapy viral kinetics clinical trial of celgosivir (MX-3253) in Hepatitis C virus (HCV) patients. Celgosivir is an orally administered, first- in-class alpha glucosidase 1 inhibitor, in development for the treatment of chronic HCV infections. The viral kinetics study is intended to demonstrate improved viral load kinetics (antiviral activity) in treatment-naive HCV patients when celgosivir is used in combination with interferon over a treatment period of up to 28 days. The study is expected to start early in the second quarter of calendar 2006, with results in the second half of calendar 2006.
Jim DeMesa, M.D., President and CEO of MIGENIX stated, “This viral kinetics study provides us another significant clinical result in HCV patients in 2006. In mid-year 2006 we will have results from our MX-3253 Phase IIb study in HCV ‘non-responder’ patients initiated in November 2005 with support from Schering-Plough. These results, along with the CPI-226 Phase III clinical results expected in the first half of 2007 provide us several near-term value driving opportunities”.
To obtain a copy of the complete CEO Message, please visit the MIGENIX web site at www.migenix.com or contact Investor Relations at 1-800-665-1968, Extension 241.
About MIGENIX
MIGENIX is committed to advancing therapy, improving health, and enriching life by developing and commercializing drugs in the areas of infectious and degenerative diseases. The Company’s clinical programs include drug candidates for the treatment of chronic hepatitis C infections (Phase II), the prevention of catheter-related infections (Phase III), the treatment of neurodegenerative diseases (Phase I) and the treatment of acne (Phase II). MIGENIX is headquartered in Vancouver, British Columbia, Canada with US operations in San Diego, California. Additional information can be found at www.migenix.com.
“Jim DeMesa” ------------ James M. DeMesa, M.D. President & CEO CONTACTS Jonathan Burke Dian Griesel, Ph.D. MIGENIX Inc. Investor Relations Group Tel: (604) 221-9666 Ext. 241 Tel: (212) 825-3210 jburke@migenix.comTheproteam@aol.com
Certain statements in this news release contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact may be deemed to be forward-looking statements. Forward- looking statements frequently, but not always, use the words “intends”, “plans”, “believes”, “anticipates” or “expects” or similar words; that events “will”, “may”, “could” or “should” occur; and/or include statements concerning our strategies, goals, plans and expectations. Forward-looking statements in this news release include, but are not limited to statements concerning: starting a combination therapy viral kinetics clinical trial of MX-3253 in chronic, treatment naive HCV patients in the second calendar quarter of 2006, with results in the second half of calendar 2006; having results from the Phase IIb MX-3253 combination study by mid calendar 2006; and having results from the Phase III CPI-226 study in the first half of calendar 2007. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Factors that could cause actual events or results expressed or implied by such forward looking statements to differ materially from any future results expressed or implied by such statements include, but are not limited to: uncertainties related to early stage of technology and product development; the possibility that government agency approvals will not be obtained in a timely manner or at all or will be conditioned in a manner that would impair our ability to advance development and/or market the product successfully; dependence on corporate collaborations; uncertainties as to future expense levels and the possibility of unanticipated costs or expenses or cost overruns, the possibility that opportunities will arise that require more cash than presently anticipated and other uncertainties related to predictions of future cash requirements; uncertainties as to the requirement that a drug be found to be safe and effective after extensive clinical trials and the possibility that the results of such trials, if commenced and completed, will not establish the safety or efficacy of our products; risks relating to requirements for approvals by government agencies such as the FDA and/or Health Canada before products can be tested in clinical trials and ultimately marketed; management of growth; dependence on key personnel; the possibility that we will not successfully develop any products; the possibility that advances by competitors will cause our proposed products not to be viable, the risk that our patents could be invalidated or narrowed in scope by judicial actions or that our technology could infringe the patent or other intellectual property rights of third parties; the possibility that any products successfully developed by us will not achieve market acceptance; and other risks and uncertainties which may not be described herein. Certain of these factors and other factors are described in detail in the Company’s Annual Information Form and Annual Report on Form 20-F and other filings with the Canadian securities regulatory authorities and the U.S. Securities & Exchange Commission. Forward-looking statements are based on our current expectations and MIGENIX assumes no obligations to update such information to reflect later events or developments.
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MIGENIX Inc.
CONTACT: Jonathan Burke, MIGENIX Inc., Tel: (604) 221-9666 Ext. 241,jburke@migenix.com; Dian Griesel, Ph.D., Investor Relations Group, Tel:(212) 825-3210, Theproteam@aol.com; To request a free copy of thisorganization’s annual report, please go to http://www.newswire.ca and clickon Tools for Investors.
