Message #33 From:
Stock News Bot Date: November 15, 2006 06:00:00 AM
OXIS News OXIS Phase IIA Licensed Compound Significantly Reduces Damage from Heart Attack in Diabetic Mice
FOSTER CITY, Calif.--(BUSINESS WIRE)--OXIS International, Inc. (OTCBB: OXIS) (Nouveau Marché:
OXIS) (FWB: OXI) commented today on an earlier announcement by Alteon
(Amex: ALT) that BXT-51072 (ALT-2074), a compound that OXIS developed
and subsequently licensed to Alteon, has been shown to significantly
reduce the myocardial damage in a diabetic mouse heart injury model.
"We congratulate Alteon’s team on this
important step towards the development of a potentially effective future
treatment for high-risk diabetic patients," stated Marvin S. Hausman,
M.D., Chairman and CEO of OXIS International. "This study is also a
significant example of the association of a disease with a marker of
oxidative stress, and provides further evidence that oxidative stress
biomarkers may prove valuable in the diagnosis, treatment and especially
the monitoring of a patient’s response to
treatment in some of today’s most prevalent
diseases.”
BXT-51072 (ALT-2074), licensed by OXIS to Alteon in September 2004, is a
low molecular weight oral drug that mimics the antioxidant enzyme
glutathione peroxidase. It directly neutralizes hydrogen peroxide and
appears to protect cells from oxidative and inflammatory damage. OXIS
previously completed a multi-center, nonrandomized, open-label, two-arm
clinical trial, which showed BXT 51072 to be active in the treatment of
inflammatory bowel disease by mitigating the symptoms of ulcerative
colitis, and demonstrating a direct correlation with oxidative stress.
The trial also assessed the safety and efficacy of BXT 51072 but due to
the lack of financial resources, OXIS ceased further testing in late
1999.
In September 2004, OXIS licensed to Alteon the exclusive worldwide
rights in defined areas of cardiovascular indications to develop,
manufacture and market BXT-51072.
OXIS intends, contingent on its ability to secure additional financing,
to further investigate the safety and efficacy of the BXT-51072
therapeutic compound for gastrointestinal indications, including
inflammatory bowel disease.
OXIS International, Inc. develops technologies and products to research,
diagnose, treat and prevent diseases of oxidative stress/inflammation
associated with damage from free radical and reactive oxygen species.
The company holds the rights to three therapeutic classes of compounds
in the area of oxidative stress, and has focused commercialization
programs in clinical cardiovascular markers, including MPO
(myeloperoxidase) and GPx (glutathione peroxidase), as well as a highly
potent antioxidant, Ergothioneine, that may be sold over-the-counter
(OTC) as a dietary supplement. OXIS has acquired a 51% interest in and
has the option to purchase the remaining 49% of BioCheck.
BioCheck, Inc. is a leading provider of high-quality enzyme immunoassay
research services and products including immunoassay kits for cardiac
and tumor markers, infectious diseases, thyroid function, steroids, and
fertility hormones. The company operates a 15,000-square-foot, U.S. Food
and Drug Administration (FDA) certified cGMP, and ISO
device-manufacturing facility in Foster City, California. BioCheck has
advanced developmental programs on two promising cancer biomarkers,
related to the Id-gene, and the HMGA2 gene. Id proteins play a
significant role in the process of tumor-related angiogenesis and other
functions related to blood vessel formation. The HMGA2 gene has been
implicated in aggressive forms of breast cancer.
The statements in this press release that are not purely historical
are forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, including, without limitation, statements regarding our
expectations, objectives, anticipations, plans, hopes, beliefs,
intentions or strategies regarding the future. Forward-looking
statements in this release include statements that: contingent on its
ability to secure additional financing, OXIS intends to further
investigate the safety and efficacy of the BXT-51072 therapeutic
compound for gastrointestinal indications, including inflammatory bowel
disease. Factors that could cause actual results to differ materially
from the forward-looking statements include risks and uncertainties such
as (1) failure to complete our acquisition of BioCheck or to adequately
integrate the operations of the two companies; (2) failure to achieve
any benefits in connection with the recent changes in management or
personnel; (3) disruption in operations due to the relocation plan and
reduction in workforce; (4) failure to comply with our obligations under
the debenture transaction agreements or to repay the debentures when
such payments are due; (5) inability to hire employees or management;
(6) failure to make payments when required under our Mutual Services
Agreement with BioCheck to avoid termination; (7) failure to find
alternative suppliers; (8) failure to develop or market products
successfully; (9) failure to obtain necessary financing; (10) the cost
of complying with regulatory requirements; (11) uncertainties exist
relating to issuance, validity and ability to enforce and protect
patents, other intellectual property and certain proprietary
information; (12) our products may not meet product performance
specifications; (13) new products may be unable to compete successfully
in either existing or new markets; (14) availability and future costs of
materials and other operating expenses; (15) weakness in the global
economy and changing market conditions, together with general economic
conditions affecting our target industries, could cause our operating
results to fluctuate; (16) miscalculations in the assessment of our cash
position; and (17) our failure to accurately predict the impact of the
adoption of certain accounting standards, and other risks indicated in
the company’s filings with the Securities and
Exchange Commission. It is important to note that actual outcomes could
differ materially from those in such forward-looking statements. Readers
should also refer to the documents filed by the company with the
Securities and Exchange Commission, specifically the company’s
annual report on Form 10-KSB filed with the Securities and Exchange
Commission on March 31, 2006 and the company's quarterly reports on Form
10-QSB filed thereafter.
