Inflazyme Pharmaceuticals Ltd.
TSX : IZP

Inflazyme Pharmaceuticals Ltd.

January 29, 2007 19:18 ET

Inflazyme Pharmaceuticals Announces Preliminary Outcome of the Phase 2b CAPSICS Asthma Trial

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 29, 2007) - Inflazyme Pharmaceuticals Ltd. (TSX:IZP) announced today that it has completed the Phase 2b asthma clinical study in moderate to severe patients and the data has been unblinded.

Preliminary review of the top line data show there was substantial improvements in all measures of asthma control in both placebo treated patients and those receiving IPL512,602, with no statistical differences between the groups. The primary endpoint in the study was an expected improvement in AQLQ compared to placebo and the secondary endpoints incorporated measures of asthma control.

"The profile and magnitude of the placebo response is extremely surprising and merits further examination," said Dr. Kevin Mullane, CEO and President of Inflazyme Pharmaceuticals. "We are currently conducting a validation review process of the full trial. We expect to report on the outcome of this within the next 2-3 weeks."

IPL455,903 - Phase 2a Age Associated Memory Impairment

The Company is also expecting to report this quarter on the results of IPL455,903, a non-emetic PDE4 inhibitor which is currently being tested in a Phase 2a clinical study in age associated memory impairment. The trial is being conducted by Helicon Therapeutics (New York), who has a limited license to the compound in memory disorders. "Once the results are announced, we will communicate the best strategy to maximize shareholder value with this program," commented Dr. Kevin Mullane.

Other Assets

In addition to these two clinical programs, Inflazyme has other assets within the LSAIDs™ (Leukocyte Selective Anti-Inflammatory Drugs) and PDE4 families that the Company will seek to realize value for shareholders. Both platforms have demonstrated anti-inflammatory activity as a minimum in cell based assays and pre-clinical studies, and two clinical candidates are available from the LSAIDs™.

About Inflazyme

Inflazyme Pharmaceuticals is a biopharmaceutical company pioneering medical breakthroughs to transform the lives of patients with respiratory and inflammatory diseases worldwide. Further information on the Company may be obtained from its website at www.inflazyme.com.

This news release contains certain "forward-looking statements" and "forward-looking information" which may include but is not limited to statements in respect of our future financial position or operations. Words like "believe", "intend", "may", "expect", "anticipate", "plan", "should" and other similar expressions are forward-looking statements that involve a number of risks and uncertainties. By their nature, forward-looking statements involve numerous factors, assumptions and estimates, some but not all of the factors that could cause actual results to differ materially from those projected in our forward-looking statements include among others: risks associated with the completion of clinical trials and obtaining regulatory approval to market our products, market acceptance of our technologies and products; our ability to obtain financing; our financial and technical resources relative to those of our competitors; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain and develop partnership opportunities; and other risk factors identified from time to time in the Company's regulatory filings. For a further description of the principal risks affecting the Company, see our regulatory filings. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements.

Contact Information

  • Inflazyme Pharmaceuticals Ltd.
    Julie Rezler
    Sr. Director, Corporate Development
    (604) 279-8511 or Toll Free 1-800-315-3660
    (604) 279-8711 (FAX)
    Email: ir@inflazyme.com
    Website: www.inflazyme.com