SOURCE: BioBalance Corporation

May 02, 2006 08:30 ET

BioBalance Awarded U.S. Patent for Probactrix® in the Treatment of Inflammatory Bowel Disease

NEW YORK, NY -- (MARKET WIRE) -- May 2, 2006 -- BioBalance Corp. (BioBalance), a wholly owned subsidiary of New York Health Care, Inc.(OTC BB: BBAL), announced today that it has been awarded U.S. Patent 7,018,629 for the use of Probactrix®, its patented strain of the biotherapeutic agent E.coli M-17, in the treatment of Inflammatory Bowel Disease (IBD). BioBalance applied for the patent on January 22, 2003 and it was awarded on March 28, 2006.

The patent, "Probiotic Compositions for the Treatment of Inflammatory Bowel Disease," was invented by Dr. Harold Jacob and Dr. Samuel Adler, both board-certified gastroenterologists and members of BioBalance's Medical Advisory Board. Some of the patent findings were based on a breakthrough clinical study conducted by Drs. Jacob and Adler in 2002. An abstract of this study was presented at the 2003 DDW conference, the largest global medical conference among GI specialists. Of significant importance was the use of capsule endoscopy which showed marked improvement of mucosal inflammation in a majority of patients with proximal small bowel inflammation after six weeks of Probactrix therapy.

Dr. Jacob commented, "Probactrix represents a totally new approach for gastroenterologists in the treatment of inflammatory bowel disease." He added, "With the addition of IBD to the growing list of potential uses for Probactrix, we continue to be impressed by the wide spectrum of GI indications in which Probactrix will likely play a therapeutic role."

Inflammatory Bowel Disease refers to Crohn's disease and ulcerative colitis, which collectively afflict one million Americans. Both are chronic digestive disorders with no known cause. Ulcerative colitis inflames the inner lining of the colon (large intestine) and the rectum. Crohn's disease may affect the lower part of the small intestine, the colon, and other parts of the digestive tract.

"I am very excited that we were awarded this patent, which further expands our extensive patent portfolio," said Dennis O'Donnell, BioBalance's President & CEO. "The Company is beginning to be recognized as the leader in probiotic therapy for GI diseases." The full text and images of the BioBalance patent, U.S. 7,018,629 is available at www.uspto.gov by doing a patent number search under "issued patents."

About BioBalance Corporation

BioBalance is a biopharmaceutical company focused on the development of innovative treatments for various GI disorders that are poorly addressed by current therapies via accelerated regulatory pathways. These disorders include pouchitis, Irritable Bowel Syndrome (IBS), Crohn's disease, ulcerative colitis, C. difficile infections and antibiotic-associated diarrhea. BioBalance's lead product, Probactrix®, recently received FDA approval to begin phase II clinical trials for pouchitis. Additional information on BioBalance is located on the BioBalance website at www.biobalance.com.

SAFE HARBOR STATEMENT: In addition to historical information, certain of the statements in the preceding paragraphs, particularly those anticipating future events, financial performance, business prospects and growth and operating strategies constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as anticipate, believe, estimate, expect, intend, predict, hope or similar expressions. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements, including, without limitation, satisfaction of regulatory and other approvals and conditions necessary to market Probactrix®, the Company's ability to implement its strategies and achieve its objectives and the risks and uncertainties described in reports filed by the Company with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, including without limitation, the risk factors set forth and cautionary statements made in the Company's 2005 Annual Report on Form 10-K, its latest quarterly report on Form 10-Q and current reports on Form 8-K.

Consulting For Strategic Growth I, Ltd. ("CFSG1") provides The BioBalance Corporation with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG1 receives a fixed monthly fee for the duration of the agreement. Independent of CFSG1's receipt of cash compensation from BioBalance, CFSG1 may choose to purchase the common stock of New York Health Care, Inc. and thereafter sell those shares at any time it deems appropriate to do so. For further information, please visit www.cfsg1.com.

Contact Information


  • CONTACTS:
    Simon Fischer
    Director of Corp. Development
    BioBalance Corp.
    Tel: (212) 679-7778
    Fax: (212) 679-7774
    Email Contact

    Stanley Wunderlich
    CEO
    Consulting For Strategic Growth
    Tel: (800) 625-2236
    Fax: (212)337-8089
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