Message #26 From:
NewsBot Date: February 15, 2007 05:37:00 AM
UGNE News Unigene Receives Phase II SBIR Grant for Novel Peptide Discovery Program
FAIRFIELD, N.J.--(BUSINESS WIRE)--Unigene Laboratories, Inc. (OTCBB: UGNE) has been awarded a Phase II Small Business Innovative Research (SBIR) Grant from the National Institute for Diabetes and Digestive Kidney Diseases (NIDDK), a division of the National Institutes of Health. The Phase II award, which will provide approximately $900,000 over two years, will fund the continuation of Unigene’s proprietary discovery program to identify novel therapeutic peptide hormones.
In 2003, Unigene received a Phase I grant which allowed the Company to utilize a proprietary technology developed in collaboration with the University of South Florida to establish a procedure for identifying such peptides in various plant or animal tissues. Unigene subsequently confirmed the utility of the technology and achieved all of the objectives of the Phase I program. The Company then filed a Phase II application, which was reviewed and accepted by the funding agency without any modifications.
“We are very pleased that the NIDDK has chosen to continue its support of this innovative program because the competition for such funds is intense,” said Dr. Ronald S. Levy, Executive Vice President of Unigene. “An increasing number of peptides are being shown to play essential roles in fundamental human metabolic processes, yet only a small number of these have already been commercialized. This program can create additional opportunities for the utilization of Unigene’s patented peptide manufacturing and delivery technologies, while enabling us to obtain additional patent protection on the novel peptides themselves.”
About Unigene
Unigene Laboratories, Inc. is a biopharmaceutical company focusing on the oral and nasal delivery of large-market peptide drugs. Due to the size of the worldwide osteoporosis market, Unigene is targeting its initial efforts on developing calcitonin and PTH-based therapies. Fortical®, Unigene’s nasal calcitonin product for the treatment of postmenopausal osteoporosis, received FDA approval and was launched in August 2005. Unigene has licensed the U.S. rights for Fortical® to Upsher-Smith Laboratories, worldwide rights for its oral PTH technology to GlaxoSmithKline and worldwide rights for its calcitonin manufacturing technology to Novartis. The Company is also manufacturing a second peptide for Novartis. Unigene’s patented oral delivery technology has successfully delivered, in preclinical and/or clinical trials, various peptides including calcitonin, PTH and insulin. Unigene’s patented manufacturing technology is designed to cost-effectively produce peptides in quantities sufficient to support their worldwide commercialization as oral or nasal therapeutics. For more information about Unigene, call (973) 882-0860 or visit www.unigene.com. For information about Fortical, visit www.fortical.com.
Safe Harbor statements under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based upon Unigene Laboratories, Inc.’s management’s current expectations, estimates, beliefs, assumptions, and projections about Unigene’s business and industry. Words such as “anticipates,”“expects,”“intends,”“plans,”“predicts,”“believes,”“seeks,”“estimates,”“may,”“will,”“should,”“would,”“potential,”“continue,” and variations of these words (or negatives of these words) or similar expressions, are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various risk factors. These risks and uncertainties include the risks associated with the effect of changing economic conditions, trends in the products markets, variations in Unigene's cash flow, market acceptance risks, technical development risks and other risk factors detailed in Unigene's Securities and Exchange Commission filings.
