SOURCE: Lipid Sciences, Inc.

October 16, 2006 13:43 ET

/ CORRECTION - Publication in the Journal of Virological Methods Supports Lipid Sciences' Viral Immunotherapy Platform Strategy

PLEASANTON, CA -- (MARKET WIRE) -- October 16, 2006 -- In the news release, "Publication in the Journal of Virological Methods Supports Lipid Sciences' Viral Immunotherapy Platform Strategy," issued earlier today by Lipid Sciences, Inc. (NASDAQ: LIPD), we are advised by the company that the title of the paper in the first sentence of the first paragraph should be "Delipidation of a Hepadnavirus: Viral Inactivation and Vaccine Development" rather than "Delipidation of a Hepadnaviurs: Viral Inactivation and Vaccine Development," and that the sixth sentence of the third paragraph should read "Based on the positive results of this exploratory study, Lipid Sciences has launched an expanded study in a larger animal population with results expected during the period Fourth Quarter of 2007/First Quarter of 2008," rather than "Based on the positive results of this exploratory study, Lipid Sciences has launched an expanded study in a larger animal population with results expected in Fourth Quarter of 2006/First Quarter of 2008," as originally issued. There are also several minor other changes throughout the corrected release. Complete corrected text follows.

Publication in the Journal of Virological Methods Supports Lipid Sciences' Viral Immunotherapy Platform Strategy

Effectiveness of Viral Delipidation Demonstrated in a Duck Hepatitis B Virus Model

PLEASANTON, CA -- October 16, 2006 -- Lipid Sciences, Inc. (NASDAQ: LIPD) announced that a paper entitled "Delipidation of a Hepadnavirus: Viral Inactivation and Vaccine Development" by B.E. Cham*, K. Vickery et.al., appearing in the Journal of Virological Methods 137 (2006) 160-163, outlined a novel approach to the development of a vaccine against viral infection utilizing the process of viral delipidation. In this study, delipidated Hepatitis B virus was successfully used to vaccinate and protect young ducklings against a lethal challenge. The duck/duck hepatitis B model was chosen to demonstrate this principle because it has been used as a surrogate for Hepatitis B. The second aim of the study was to determine whether removing lipids from the envelope of DHBV (Duck Hepatitis B Virus) would preserve the viral proteins in their antigenic form -- which was successfully demonstrated. The results of this study support the premise that delipidation of lipid-enveloped viruses with specific organic solvent combinations has potential as a basis for the development of vaccines with a wide range of human and animal health animal applications.

These results further support Lipid Sciences' Viral Immunotherapy platform which is focused on the removal of lipid coatings from lipid-enveloped viruses and other lipid containing infectious agents by the application of the Company's proprietary delipidation technology. It is believed that removing the virus' protective lipid coating enhances the processing and presentation of antigen to stimulate the body's immune system to effectively fight the disease. In addition to Hepatitis B, other conditions that could potentially be impacted by the Company's technology include HIV, Hepatitis C, West Nile, SARS, and influenza, in addition to a broad range of animal health applications.

Late last year, Lipid Sciences completed an exploratory investigation of the therapeutic effect of delipidated autologous virus in chronically SIV-infected non-human primates. Simian Immunodeficiency Virus (SIV) is a widely accepted primate model for viral diseases like HIV. The results of that study demonstrated that the administration of "autologous" SIV viral antigen, delipidated by Lipid Sciences' proprietary delipidation process, to chronically SIV-infected non-human primates led to the recognition of new epitopes of the virus by the animals' immune system which was coincident with an improvement in the general indicators of overall health in these study animals. Statistical significance was reached both in the long-term survival of these animals as compared to a retrospective, SIV-infected, non-immunized control group (p=0.0067), as well as a viral load reduction of approximately 90% (p=0.04), that was achieved for the nine months' duration of the study follow-up period. The ability to use extremely small amounts of an animal's autologous circulating viral antigen to generate a virus-specific neo-immune response that can potentially lead to the control of viral replication provides a unique, potential approach to the development of an effective treatment for chronic HIV infection. Based on the positive results of this exploratory study, Lipid Sciences has launched an expanded study in a larger animal population with results expected during the period Fourth Quarter of 2007/First Quarter of 2008. It is anticipated that this study will provide a strong base of safety data that can be used as the basis for a future application to the Food and Drug Administration to allow the Company to move to a human clinical trial designed for the treatment of HIV-infected patients.

For further information regarding Lipid Sciences' Viral Immunotherapy platform, please visit the Company website at: www.lipidsciences.com.

*Dr. Bill E. Cham is a founding shareholder of Lipid Sciences, Inc.

Lipid Sciences, Inc. is a development-stage biotechnology company engaged in the research and development of products and processes intended to treat major medical indications, in which lipids, or fat components, play a key role. The Company's HDL Therapy platform (HDL Selective Delipidation and HDL mimetic peptides) is aimed at developing treatments for the reversal of atherosclerosis, a systemic disease of the blood vessels caused by the build-up of cholesterol-filled plaques in the vascular system and, most critically, in the coronary arteries. Regression of such plaques may have a major impact on reducing the risk of acute coronary events. The Company's Viral Immunotherapy platform is focused on the removal of the lipid coatings from lipid-enveloped viruses and other lipid-containing infectious agents by application of Lipid Sciences' proprietary delipidation technology. The Company believes that removing the virus' protective lipid coating enhances the processing and presentation of viral proteins to stimulate the body's immune system to effectively fight the disease. Conditions that could potentially be impacted by this technology include HIV, Hepatitis B and Hepatitis C, West Nile, SARS and influenza.

Forward-Looking Statements: This release contains forward-looking statements concerning plans, objectives, goals, strategies, study results, anticipations, expectations, future events or performance as well as all other statements that are not statements of historical fact. The forward-looking statements contained in this release reflect our current beliefs and expectations on the date of this release. Actual results, performance or outcomes may differ materially from what is expressed in the forward-looking statements. Readers are referred to the documents filed by us with the SEC, specifically the most recent reports on Form 10-K and Form 10-Q which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. In addition to those risk factors, other factors that could cause actual results to differ materially include the following: Our inability to obtain adequate funds; the significant losses we have incurred to date, and our expectation that we will incur substantial losses in the future; the failure of our technology to prove safe or effective; our inability to obtain regulatory approval for our technology, which is only in the clinical development stage; delay or failure to complete clinical studies; our dependence on our license agreement with Aruba International B.V.; our reliance on collaborations with strategic partners and consultants; competition in our industry, including the development of new products by others that may provide alternative or better therapies; failure to secure and enforce our intellectual property rights; risks associated with use of biological and hazardous materials; acceptance of our potential products by healthcare providers and patients; our exposure to product liability claims; and our dependence on key personnel.

This release should be read in conjunction with the consolidated financial statements and notes thereto included in our most recent reports on Form 10-K and Form 10-Q. Copies are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. Lipid Sciences assumes no obligation to update the forward-looking statements included in this document.

Press releases for Lipid Sciences, Inc. are available on our website: www.lipidsciences.com. If you would like to receive our press releases via email, please contact: info@lipidsciences.com.

Contact Information

  • FOR FURTHER INFORMATION CONTACT:
    Deborah S. Lorenz
    Vice President, Investor Relations and
    Corporate Communications
    Lipid Sciences, Inc.
    925-249-4031
    Email Contact