In Vitro Testing Collaboration With the Provincial Laboratory for Public Health Marks the Formal Initiation of Upstream's Preclinical Anti-Malaria Program
Upstream Biosciences Inc. (OTCBB: UPBS) today announced that it has entered into a collaboration with the Provincial Laboratory for Public Health (or ProvLab) in Alberta, Canada to begin in vitro testing of Upstream's novel compounds for the potential treatment of malaria. According to the World Health Organization (WHO), an estimated 500 million people become severely ill with malaria and more than one million people die of the disease each year."ProvLab is among the most respected and well-accredited laboratories in Canada, and we are pleased to be working with their scientists to test the potential utility of our anti-malarial drug candidates," said Joel L. Bellenson, Chief Executive Officer of Upstream. "Malaria is the most widely known and devastating of the tropical parasitic diseases, yet the best efforts of global health organizations have so far failed to come up with effective and affordable drugs to take the place of existing therapies, which are becoming increasingly ineffective."
Upstream's library of novel compounds has already demonstrated encouraging potential in vitro against the tropical parasitic diseases leishmaniasis and trypanosomiasis, or African sleeping sickness, and may also have therapeutic utility against the parasite that causes malaria. Malaria, leishmaniasis and trypanosomiasis are caused by related parasites.
Mr. Bellenson continued, "We look forward to moving quickly to complete these initial studies so that we can hopefully progress to further preclinical and clinical studies of the candidates that demonstrate the most promise for the treatment of this terrible disease, which causes so much human suffering and acts as a barrier to economic and social development throughout the developing world."
About Malaria
Malaria is an infectious disease caused by parasites of the species Plasmodium that are spread from person to person through the bites of infected mosquitoes. According to the World Heath Organization (WHO), about 40% of the world's population is at risk of malaria. Malaria is endemic in some parts of the world, mostly in sub-Saharan Africa, where many of the estimated 500 million malaria cases per year are found. Early diagnosis and treatment can shorten the duration of the disease and prevent death or the development of debilitating complications. However, the malaria-causing parasite's resistance to current medicines continues to undermine malaria control efforts. Malaria disproportionately affects the poor who cannot afford treatment or who have limited access to health care. According to the WHO, in some countries with a heavy malaria burden, the disease may account for as much as 40% of public health expenditure, 30-50% of inpatient admissions and up to 60% of outpatient visits.
About The Provincial Laboratory for Public Health
Founded in 1907, the Provincial Laboratory for Public Health (ProvLab) in Alberta, Canada, belongs to a network of federal and provincial public health laboratories called the Canadian Public Health Laboratory Network (CPHLN). ProvLab supports Alberta's hospitals, health system and government agencies with its laboratory-based surveillance, diagnostics and research. Internationally recognized for laboratory excellence, ProvLab maintains accreditation from the foremost inspection agencies designed to evaluate the quality of laboratory services. ProvLab is the only public health laboratory in Canada to simultaneously hold certificates from the following agencies: College of Physicians and Surgeons of Alberta (CPSA), College of American Pathologists' (CAP), Canadian Association of Environmental Analytical Laboratories (CAEAL), and the American Association of Tissue Banks.
About Upstream Biosciences, Inc.
Founded in 2004, Upstream Biosciences is a pioneer in the discovery and development of novel drugs for tropical parasitic diseases and in the development of genetic diagnostics for cancer susceptibility and drug response. Upstream's innovative approach to drug discovery and its proprietary data mining pipeline enable it to apply advanced computational approaches to generating novel drug candidates and to locating and analyzing the genetic variations important to disease progression and drug response. For more information visit www.upstreambio.com.
Notice Regarding Forward-Looking Statements: This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) the Company and ProvLab will begin in vitro testing of the Company's novel compounds for the potential treatment of malaria; and (ii) the Company may progress to further preclinical and clinical studies of the candidates that demonstrate the most promise for the treatment of malaria. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that the Company does not execute its business plan; (ii) the inability of the Company to keep pace with technological advancements in the field of genetic diagnostics and the treatment of tropical parasitic diseases; (iii) the Company's inability to adequately protect its intellectual property or the Company's inadvertent infringement of third party intellectual property; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties; and (x) the conference not proceeding as planned for any reason. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contacts:
Media/Corporate:
GendeLLindheim BioCom Partners
Barbara Lindheim
212 918-4650
Investors:
Samantha Haynes
800-539-0289
Email Contact