SOURCE: Molecular Pharmacology (USA) Limited

May 02, 2007 23:23 ET

Company Update May 2007

LOS ANGELES, CA -- (MARKET WIRE) -- May 2, 2007 -- Molecular Pharmacology (USA) Limited (OTCBB: MLPH) -- The Board of the Directors is pleased to provide an update on the exciting developments in drug discovery and product development that have been ongoing for the last year.

The full Company Update is attached as a PDF file.

The view of the Company over this period was to focus on building solid scientific foundations that would support and enable a firm commercial move forward during 2007. Recent acceptance of three scientific presentations by the Scientific Board of the World Congress on Inflammation is testament to the validity and importance of the Group's recent work.

The Company through its Australian subsidiary Molecular Pharmacology Limited and its principle shareholder, Pharmanet Group Limited (which is referred to in this document as 'MPL Group' or 'the Group'), conducts a drug discovery and product development program. We can now state with confidence that the MPL Group is an independent drug discovery entity, utilising a proven and approved anti-cytokine product platform in the creation of multi-level product pipelines focused on diseases and conditions involving inflammation, pain and secondary injury cascades.

This statement encapsulates almost 3 years of intensive scientific vigor and explains where the Group is and where it is heading. The Group is focused on an area of pharmacology dedicated to managing inflammation, pain and the body's reaction to injury, which in the view of the Group are key commercial development fields.

Over the last year the Group has worked with the Australian regulators to bring current production methods to full international GMP standards prior to reintroducing ThermaLife to the market and then expanding those markets into Asia, Europe and the USA. The Group is in discussion with Asian distributors and has engaged regulatory consultants to assist in gaining European and later USA product registration.

The MPL Group has been working on a new, more refined product with the trademark of SAVANTAC™, which is a more potent and effective formulation. This will enter the regulatory approval process in 2007. In addition to the product push, the Group has been active in both Europe and USA in the field of new indications, with special focus on the cosmetic and non-therapeutic fields. These areas offer considerable business potential due to the ease with which market approvals can be established.

The MPL Group has achieved success in the fractionation of the parent compound. Discussions are ongoing with a number of major US and European pharmaceutical companies, interest has been expressed, and discussions are progressing for the rights to licence the single identifiable molecules that are responsible for highly effective biological activity.

Finally, we are pleased to be able to provide shareholders with a summary of the non-confidential scientific file describing the recent scientific accomplishments achieved by the MPL Group in human medicine. Please see the attached PDF file or you may request a copy by emailing jedwards@mpl-usa.com

Contact Information

  • For more information:
    Jeffrey Edwards
    Molecular Pharmacology (USA) Limited
    Phone: +61 8 944 33011
    Cell: +61 41 791 2211
    E-mail: Email Contact