SOURCE: Genitrix, LLC

July 20, 2005 08:15 ET

NIH Awards Genitrix, LLC $850,000 for Opsonokine™ Technology

Funds to Advance Development of Lead Molecule

CAMBRIDGE, MA -- (MARKET WIRE) -- July 20, 2005 -- Genitrix, LLC announced today that it has received a grant of approximately $850,000 from the National Institutes of Health. The two-year, Phase II SBIR (Small Business Innovation Research) grant will be used to advance the development of the Company's lead Opsonokine™ molecule.

The lead Opsonokine™ molecule stimulates a potent, specific "killer" T cell response to any chosen target. Opsonokine™-based vaccines are formulated by mixing this molecule with the desired target, which may be, for example, a viral protein or a cancer cell. Genitrix is currently focused on developing breakthrough vaccines that treat, rather than prevent, high-impact chronic infections and cancer.

"This award provides strong validation of our proprietary Opsonokine™ technology, particularly given the current fiscal environment at the NIH," said Andrew H. Segal, M.D., President and CEO of Genitrix. "I believe that our success in obtaining this funding reflects not only our technology's impressive potency, but also its compelling practicality and versatility."

Segal continued, "This is an exciting time for Genitrix. The Opsonokine™ technology is being received enthusiastically by potential partners in the infectious disease space. In addition, we plan to begin clinical trials in cancer in the fourth quarter of this year. Furthermore, we look forward to closing an equity round later this quarter. Those funds, along with this NIH award and proceeds from strategic alliances, will further our mission of creating value for both patients and investors."

Genitrix, LLC, a privately held biotechnology company headquartered in Cambridge, MA, is developing innovative therapeutic vaccines based on its powerful Opsonokine™ technology. Opsonokines are "sticky" cytokines that attach to cells automatically, on contact, making it possible to put the right cytokine in the right place in the right amount, and keep it there. The Company's lead Opsonokine™ molecule overcomes the "immunogenicity barrier", historically a major obstacle to immunotherapy, by targeting the body's critical "antigen presenting cells" and stimulating a potent "killer" T cell response. Genitrix is currently developing products, based on this lead molecule, for the treatment of cancer and chronic viral infections.

Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. Such forward-looking statements are based on the beliefs of Genitrix's management, as well as assumptions made by and information currently available to the Genitrix's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; intellectual property conflicts and disputes; and many other risk factors. Genitrix and its management undertake no obligation to revise any forward-looking statements as a result of future events or developments.

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