Message #35 From:
TheMachine Date: September 20, 2008 12:59:52 AM
Upstream Biosciences Begins Animal Efficacy Testing For Trypanosomiasis Treatment
Company reaches a significant development milestone in program to treat Trypanosomiasis
Vancouver, British Columbia CANADA, September 15, 2008 /FSC/ -
Upstream Biosciences Inc. (UPBS - OTCBB), announced today that it has
begun animal efficacy testing in collaboration with Makerere University
in Kampala, Uganda to evaluate its proprietary drug candidates as
potential livestock and human treatments for Trypanosomiasis.
Management anticipates that this research will lead to the selection of
a drug candidate to treat Trypanosomiasis initially in livestock
followed by a human treatment for the disease.
"We are excited that our R&D programs have yielded several high
quality preclinical candidates for the treatment of Trypanosomiasis,"
said Bellenson. "The results of this round of testing are expected to
allow us to take an important step towards developing our first drug
for a veterinary application in Africa. Our treatment for this
devastating disease could have a huge economic impact on Africa.
Trypanosomiasis causes an estimated annual economic loss of US$4.5
billion and impacts a geographic area the size of Canada."
Upstream has demonstrated in vitro efficacy and in vivo (in
animals) safety for potential treatments for Trypanosomiasis,
Leishmaniasis, and Malaria. Trypanosomiasis, Leishmaniasis, and Malaria
are caused by related parasites that have developed resistance to
available treatments. An estimated 60 million people and 50 million
cattle and other animals in sub-Saharan Africa are at risk of
contracting Trypanosomiasis. Drug resistance has greatly reduced the
effectiveness of existing Trypanosomiasis treatments. Leishmaniasis
afflicts millions of people living in Africa, India, and the Middle
East. According to the World Health Organization, about 40% of the
world's population is at risk of Malaria. These diseases will be
included in the United States Food and Drug Administration's proposed
priority review voucher program designed to provide financial incentive
to companies developing treatments.
The Trypanosomiasis testing will be conducted at Makerere
University Faculty of Veterinary Medicine, Dept. of Parasitology and
Microbiology, in Kampala, Uganda. Testing will directed by Prof. George
Lubega, department head, and by Dr. Enock Matovu.
"We are very pleased to play an important role in Upstream's
rapidly-advancing program to develop a treatment for Trypanosomiasis,"
said Prof. Lubega. "An effective treatment for Trypanosomiasis in
livestock could significantly increase the production of dairy, meat,
and agricultural products across sub-Saharan Africa."
About Makerere University
Makerere University located in Kampala, Uganda is one of
sub-Saharan Africa's oldest and most prestigious institutions of higher
learning. It is among the largest universities in East and Central
Africa, with a student population of over 30,000 undergraduate and
3,000 postgraduate students. Makerere consists of 22 faculties,
institutes and schools and is an active center of research. While some
faculties including Medicine were founded as early as 1924, Makerere
was established as the University of East Africa in 1963, and became an
independent national university of the Republic of Uganda in 1970. For
more information visit: www.mak.ac.ug
About Upstream Biosciences, Inc.
Upstream Biosciences is focused on developing and commercializing
drug candidates to treat tropical diseases, including leishmaniasis,
trypanosomiasis, and malaria. Caused by parasites that have developed
resistance to available treatments, these diseases afflict millions of
people living in the tropics with death, illness, malnourishment and
economic hardship. Upstream's drug candidates are generated using its
proprietary computer-assisted drug discovery process. The Company's
lead drug candidates have demonstrated anti-parasitic efficacy in vitro
and positive safety data in animals.
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's proprietary drugs may treat livestock and humans for
Trypanosomiasis; (ii) animal efficacy testing may lead to the selection
of a drug candidate to treat Trypanosomiasis in livestock followed by a
human treatment; (iii) the results of animal efficacy testing may allow
the Company to take an important step towards development its first
drug for a veterinary application in Africa; (iv) the Company's
treatment for Trypanosomiasis could have a huge economic impact on
Africa; and (v) an effective treatment for Trypanosomiasis in livestock
could significantly increase the production of meat, dairy, and
agricultural products across sub-Saharan Africa. 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, because of insufficient
financing, inefficacy of products or other reasons; (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 risk that the Company's
drugs may not be approved for sale by regulators having authority over
medicine and drug therapies; and (x) the potential inability to
effectively market and commercialize the Company's technologies,
including the establishment of viable relationships with third parties.
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.
Investor and Media contact:
Samantha Haynes
1-800-539-0289 or
info@upstreambio.com
Source: Upstream Biosciences Inc. (OTCBB: OPBS) http://www.upstreambio.com
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