Bio3 Research S.r.l. and ProtElix Inc. enter into an agreement for the development of mimic-antibody

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 17, 2008 --

Bio3 Research S.r.l. and ProtElix Inc. announced today that they have entered into a non-exclusive worldwide collaboration for the development and commercial exploitation of mimic-antibody HMGB1 antagonists to prevent restenosis and atherosclerotic plaque progression. Anti-HMGB1 mimic-Abs will be generated by ProtElix using its proprietary technology platform and under a non-exclusive license to utilize Bio3 Research’s patent (IP WO02074437) relating to HMGB1 for cardiovascular disorders. Patents have been granted to Bio3 Research in Italy and Australia and the patent nationalization phase is underway in the USA, EU, Japan, Canada, China and Mexico.
Through a licensing program, Bio3 Research and ProtElix will jointly carry out the commercial exploitation of the mimic-Abs in key pharmaceutical markets. No details on commercial terms have been disclosed.

Dr Roberto Crea, Chairman and CEO of Protelix Inc., commented, “The collaboration with Bio3 Research is a great opportunity for ProtElix to direct its proprietary antibody mimics platform to important applications in cardiovascular diseases and cancer. We are very pleased to combine Bio3 Research’s Intellectual Property and marketing expertise with our “core” technology to discover and develop cheaper and more effective protein drug antagonists”.

Mr. Francesco Paolo Pilato, President and Chief Executive Officer of Bio3 Research commented: “Mimic-Abs represent an innovative approach to antagonizing HMGB1, a biological target recognized as one of the major factors contributing to several cardiovascular disorders. The world market potential for therapeutics in this area is in the range of $35 Billion. Bio3 Research has already focused on the possible development of monoclonal antibodies to antagonize HMGB1. By developing an HMGB1-specific mimic-antibody using ProtElix’s pioneering technology, we may accelerate the development of new therapeutic tools with better tissue penetration, the potential for non-injected formulations, higher stability, lower production costs and longer shelf-life.