Inflazyme Pharmaceuticals Ltd.

Inflazyme Pharmaceuticals Ltd.

April 09, 2007 08:53 ET

Inflazyme Receives Helicon's Statement Regarding Preliminary Results of IPL455,903 in Phase 2a Memory Study

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 9, 2007) - Inflazyme Pharmaceuticals Ltd. (TSX:IZP) today announced that it has received a statement from Helicon Therapeutics of New York regarding the outcome of the proof of concept Phase 2a study with IPL455,903 (HT-0712) in Age Associated Memory Impairment (AAMI).

"(IPL455,903) was evaluated in a double-blind, randomized placebo controlled study to assess the safety, tolerability, preliminary efficacy and pharmacokinetics of a range of oral daily doses of (IPL455,903) given over a 28-day period in subjects with AAMI."

"This safety study was completed in March 2007 and the compound appears safe and well tolerated at all doses tested (up to 15-90 mg per subject per day). The daily administration resulted in sustained drug levels, consistent with earlier studies. Top line results showed that (IPL455,903) continues to lack the emetic property and adverse cardiovascular profile that has limited clinical development of many PDE-4 inhibitors. Although the effects on memory and learning failed to show a positive statistical effect, this is not surprising considering the limited study duration and the number of subjects enrolled per dose group. However, preliminary indications are that (IPL455,903) did not show efficacy or signal on Quantitative (electroencephalogram) EEG."

This statement provided by Helicon was not accompanied by any data or preliminary reports. Inflazyme has requested data and reports on this study and Helicon has indicated that it expects to provide a report to the Company by the end of April 2007. Consequently, Inflazyme is not able to independently assess and interpret the outcome of the study.

Dr. Kevin Mullane, CEO and President of Inflazyme, said, "We recognize this information is preliminary and incomplete. However, in the interest of full and complete disclosure we are informing the markets of Helicon's statement. We look forward to receiving the full report in a few weeks time and then we will be able to provide further guidance to the markets."

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

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
    1-800-315-3660 or (604) 279-8511
    (604) 279-8711 (FAX)