DGAP-News: Viridax Corporation Signs Research and Development Agreement with American Federal Agency
(firmenpresse) - Viridax Corporation / Key word(s): Contract
21.09.2010 18:30
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Viridax Corporation (FSE:VRC) ('Viridax' or the
'Company') is pleased to report that the Company has entered into a
Co-operative Research and Development Agreement ('CRADA') with the
Department of Agriculture in the U.S.A. The CRADA is focused on the
development of recombinant lytic fusion protein-based products which
represent the next generation of biopharmaceutical products which Viridax
intends to market. The products in question will be based on enzymes
derived from bacteriophage designed for the treatment of respiratory and
systemic infections. The intellectual property for the fusion protein
technology and products is owned by the U.S. Government but Viridax retains
all marketing rights with respect to specific medical uses.
It is estimated that more than 10 percent of all American hospital patients
develop an infection, leading to an increase of about US $5 billion in
annual healthcare costs. The US Centers for Disease Control and Prevention
reported recently that in American hospitals alone, healthcare-associated
infections account for an estimated 1.7 million infections and 99,000
associated deaths each year. Ventilator-Associated-Pneumonia ('VAP')
accounts for about 15% of hospital-acquired infections. VAP is also
responsible for 27% and 24% of infections acquired in the intensive-care
unit and coronary care unit, respectively. Mortality rates ranging from 20
to 50% have been reported for VAP, and health-care costs for these patients
have been estimated at US $40,000 per episode.
Richard Honour, PhD, Vice-President of Research and Development at Viridax
commented that: 'While the statistics relating to the occurrence of
respiratory and systemic infections in American hospital environments and
the associated costs in both dollars and deaths point to a significant and
growing problem for the global health care community, Viridax is
positioning itself to provide a solution that is designed to relieve
suffering and reduce health care costs while building shareholder values.'
About Viridax Corporation
Viridax Corporation was formed to develop new products for the treatment of
respiratory and systemic infections incited by Staphylococcus aureus (S.
aureus) and other Staphylococcal species. The management of Viridax is
primarily focused on providing safe, effective and affordable treatment
alternatives to conventional antibiotics, and to demonstrate the clinical
utility of the Viridax products by substantially reducing the incidence,
prevalence, morbidity and mortality of targeted bacterial infections in
both community and hospital settings. The Company plans to develop products
that are less toxic and more efficacious than conventional antibiotics, and
at lower cost, but that will target antibiotic-resistant bacteria, thus
providing access to extensive global markets. Management intends to
manufacture and evaluate the initial S. aureus bacteriophage product in
compliance with US Food and Drug Administration (FDA) guidelines to assure
approval by US and international regulatory authorities.
On behalf of the Board of Directors
Viridax Corporation
Richard C. Honour, PhD.
Vice-President and Chairman of the Board
FORWARD-LOOKING STATEMENTS
Statements in this document which are not purely historical are'forward-looking statements', including any statements regarding the
intent, belief or current expectations of Viridax Corporation and members
of its management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from those
contemplated by such forward-looking statements. Important factors
currently known to management that could cause actual results to differ
materially from those in forward-looking statements include, among others,
material changes in the global capital markets that may impact negatively
on the Company's ability to secure the working capital required to complete
the development and production of its pharmaceutical products on a timely
basis, the competitive nature of the biopharmaceutical industry and the
ability of the Company to attract the personnel required to efficiently
execute the Company's business plan. Forward looking statements are made
based on management's beliefs, estimates and opinions on the date the
statements are made and the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as updates may be required by
applicable law. Such forward-looking statements reflect our current views
with respect to future events and are subject to certain risks,
uncertainties and assumptions, including, the risks and uncertainties
outlined in our most recent financial statements. Although the Company
believes that the plans, expectations and intentions contained in this news
release are reasonable, there can be no assurance those plans, expectations
or intentions will prove to be accurate. Investors should consider all of
the information set forth herein. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy securities nor shall
there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to qualification under the
applicable securities laws of any such jurisdiction.
Richard C. Honour, PhD.
Vice-President and Chairman of the Board
E-Mail: rhono(at)viridax.com
Website: www.viridax.com
21.09.2010 18:30 Dissemination of a Corporate News, transmitted by DGAP -
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Datum: 21.09.2010 - 18:30 Uhr
Sprache: Deutsch
News-ID 32226
Anzahl Zeichen: 0
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Kategorie:
Business News
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