Proteo (GM) (USOTC:PTEO)
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Proteo, Inc. (OTCBB: PTEO; Frankfurt Freiverkehr: WKN: 925981) and its
wholly-owned subsidiary Proteo Biotech AG together with Minapharm
Pharmaceuticals SAE (Cairo and Alexandria Stock Exchange: MIPH) and its
subsidiary Rhein Minapharm Biogenetics SAE announced today that the
responsible authority in Cairo has granted approval for a Phase II
clinical trial to study the efficacy of Elafin on kidney transplant
patients.
The study will be conducted as a randomized, double-blinded,
placebo-controlled Phase II trial for prevention of acute and chronic
allograft nephropathy at the University of Cairo. The aim of the trial
is to investigate the effectiveness of Elafin at suppressing the
inflammatory processes that frequently occur after transplantation and
contribute to organ rejection and accelerated aging of the transplanted
organ.
A further Phase II clinical trial on patients undergoing esophagectomy
for esophagus carcinoma has already been started in the Clinic for
General and Thorax Surgery at the University Hospital of
Schleswig-Holstein, Campus Kiel.
In 2007 Proteo and Minapharm have entered into a license agreement for
the clinical development, production and marketing of Elafin in Egypt,
Middle Eastern and African countries. Proteo will receive an upfront
payment, milestone-payments and royalties on net product sales. In
addition, Minapharm will take over the funding of clinical research
activities for the designated region.
About Elafin
The developmental drug Elafin is produced naturally in humans and
inhibits enzymes responsible for the formation of circulating factors
(cytokines) that can cause inflammatory reactions. In kidney
transplantation these inflammatory processes are considered to be
responsible for the occurrence of acute rejections and chronic damages
of the transplanted organ.
The anti-inflammatory properties of Elafin during and the first few days
after transplantation should ensure a rapid resumption of normal kidney
function without chronic injuries caused by the endogenous inflammatory
mechanisms.
About Proteo
The company researches, develops and markets compounds for biological
and medical research as well as for use as pharmaceuticals. PROTEO holds
the production and utilization rights for recombinant human Elafin.
PROTEO intends to out-license selected indications and to establish
international strategic alliances in order to open up new fields of
application and for marketing (www.proteo.de).
About Minapharm
Minapharm, headquartered in Cairo with its production facilities in the
tenth of Ramadan, is among the leading prescription medicine companies
in Egypt and the Middle East. The company is specialized in the
manufacture and marketing of innovative pharmaceuticals and through its
subsidiary Rhein-Minapharm-Biogenetics, in the research, development and
manufacturing of biopharmaceuticals. Its biotech subsidiary is focussing
on the core therapeutic areas of liver disease and thrombosis &
haemostasis. With three therapeutic proteins already marketed and
several in the pipeline, Minapharms competence lies in decreasing time
to market without compromising ethical and safety standards. By
combining its expertise in pharmaceuticals and leadership in
biopharmaceuticals Minapharm, along with its worldwide strategic
alliances, contributes significantly to the quality of life of many
people in the region. Minapharm employs a collective workforce of over
700 and is listed on the Cairo and Alexandria stock exchange (www.minapharm.com)
Forward-Looking Statements
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are
subject to the safe harbor created by those rules. All statements, other
than statements of fact included in this release, including, without
limitation, statements regarding potential future plans and objectives
of the company, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Technical
complications that may arise could prevent the prompt implementation of
any strategically significant plan(s) outlined above. The company
cautions that these forward looking statements and risks and
uncertainties involved are further qualified by other factors including,
but not limited to those set forth in the company's Form 10-KSB filing
and other filings with the United States Securities and Exchange
Commission. The company undertakes no obligation to publicly update or
revise any statements in this release, whether as a result of new
information, future events or otherwise.