SOURCE: Lipid Sciences, Inc.

August 25, 2005 08:30 ET

Lipid Sciences, Inc. Launches Expanded HDL Therapy Platform in Collaboration With Washington Hospital Center/MedStar Research Institute

Dr. H. Bryan Brewer, Jr. to Lead HDL Mimetic Peptide Drug Development Program

Washington Hospital Center to Be Principal Site for Lipid Sciences' HDL Therapy System Human Clinical Trial

PLEASANTON, CA -- (MARKET WIRE) -- August 25, 2005 -- Lipid Sciences, Inc. (NASDAQ: LIPD) announced today that as part of its strategic plan to broaden the scope of the Company's HDL Therapy Platform, it plans to initiate a significant expansion of its HDL Therapy development program in collaboration with the Washington Hospital Center and the Cardiovascular Research Institute of the MedStar Research Institute in Washington, D.C.

H. Bryan Brewer, Jr., M.D., Vice Chairman and Chief Scientific Director of Lipid Sciences, and Director of Lipoprotein and Atherosclerosis Research at the Cardiovascular Research Institute, a division of the MedStar Research Institute located at the Washington Hospital Center, will lead the Company's new development program in the field of HDL mimetic peptides. HDL mimetic peptides consist of a unique sequence of amino acids that mimic the critical functional characteristics of apolipoprotein A-I, the key protein component of HDL (good cholesterol). HDL mimetic peptides may serve to stabilize so-called vulnerable plaques, reduce the size of lipid-rich plaques in the arterial wall, and enhance the process of reverse cholesterol transport -- similar to the functionality of HDL treated with Lipid Sciences' proprietary selective delipidation process. HDL mimetic peptides can be efficiently and economically synthesized in quantities sufficient for pre-clinical and clinical research, and can be scaled for low-cost, commercial production as a drug.

Washington Hospital Center will also serve as the principal site for Lipid Sciences' HDL Therapy System human clinical trial. Dr. Ron Waksman, Director, Experimental Angioplasty and New Technologies, Cardiovascular Research Institute, and Associate Director, Division of Cardiology, Washington Hospital Center, will serve as the Principal Investigator for the trial. Lipid Sciences plans to utilize the broad range of clinical research resources of the Cardiovascular Research Institute/MedStar Research Institute to support the Company's HDL Therapy System human clinical trial. Lipid Sciences is now preparing to file an Investigational Device Exemption ("IDE") with the Food and Drug Administration, and conditional upon its approval by the FDA, begin the human clinical trial in the first quarter of 2006.

Dr. Brewer commented, "This new program will provide the Company with an opportunity to expand its HDL Therapy development program into the arena of HDL mimetic peptides. HDL Therapy and HDL mimetic peptides represent a unique and novel opportunity to harness the functionality of HDL as a new therapeutic target in the treatment of cardiovascular disease. I am looking forward to working with my colleagues at both Lipid Sciences and the Cardiovascular Research Institute/MedStar Research Institute to accomplish our goals in both delipidation device approval and peptide drug development."

S. Lewis Meyer, Lipid Sciences' President and Chief Executive Officer, noted, "We are thrilled to be able to work with Dr. Brewer and his colleagues at the Washington Hospital Center. Lipid Sciences as a Company is focused on the extensive role lipids play in cardiovascular and viral diseases. Our HDL mimetic peptide drug development program is a logical outgrowth of Lipid Sciences' expertise in, and focus on HDL as a critical element in cardiovascular disease therapy. This exciting opportunity addresses a significant unmet market need. Our strategy is to address clinically all aspects of the Acute Coronary Syndrome (ACS) patient. Every year approximately 1.7 million Americans present with ACS. In addition to this number of patients requiring an acute intervention, about 13 million Americans suffer from known coronary artery disease and could immediately benefit from stabilization and regression of arterial plaques."

About Dr. Brewer

Dr. Brewer is a world-recognized authority in the field of lipid metabolism and cardiovascular disease research. He is the Director of Lipoprotein and Atherosclerosis Research at the Cardiovascular Research Institute, a division of the MedStar Research Institute located at the Washington Hospital Center. Prior to his current work, Dr. Brewer was the Chief of the Molecular Disease Branch at the National Heart, Lung, and Blood Institute, National Institutes of Health (NIH) for 29 years. His early research led to the first published sequences for human plasma apolipoproteins, the initial determination of plasma apolipoprotein metabolism in normal and hyperlipidemic individuals, and the identification of multiple gene defects leading to genetic dyslipoproteinemias. Dr. Brewer pioneered the use of transgenic mice and rabbits, as well as recombinant adenovirus vectors to identify genes that modulate lipoprotein metabolism and the development of atherosclerosis.

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 (selective HDL 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 exposes otherwise hidden 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; our technology not proving to be 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; 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

    Donald C. Weinberger
    Wolfe Axelrod Weinberger Associates, LLC
    212-370-4500
    Email Contact