SOURCE: Organetix, Inc.

March 10, 2005 15:36 ET

Organetix, Inc. Announces Positive Independent Laboratory Results From Tests Conducted in Germany, Spain, and Argentina

In Addition to Treating Hepatitis C, the Company's A4+L Liver Product May Be Useful in Treating Cirrhosis, Chemotherapy, Interferon and Toxic Liver Patients

NEW YORK, NY -- (MARKET WIRE) -- March 10, 2005 -- Organetix, Inc. http://www.organetixinc.com (OTC BB: OGTX) announced today that it has received positive independent laboratory results from tests conducted in Germany, Spain, and Argentina which significantly confirms the effectiveness of our A4+L Liver Product.

Successful results from these laboratory tests are significant in supporting management's decision to continue further laboratory and patient testing.

Brad Clarke, President and CEO of Organetix, Inc., stated, "These independent laboratory results support management's view that the A4+L Liver Product may be useable on many more liver disorders than Hepatitis C and suggests that our upcoming placebo controlled clinical study should be expanded to include cirrhosis, chemotherapy, interferon and toxic liver patients."

Organetix, Inc. is in the process of preparing a Private Placement Memorandum, and has signed a Private Placement Agreement with an investment bank to raise, on a best-efforts basis, up to $5MM within six to eight weeks.

About Organetix, Inc.

Organetix, Inc. (www.organetixinc.com) is a biotechnology company that is in the process of treating patients with a unique nutraceutical that appears to relieve symptoms of Hepatitis C. Organetix has the exclusive worldwide rights for this nutraceutical product. Hepatitis C is a life-threatening, blood-borne, liver disease that is caused by a virus. It is estimated that millions of individuals worldwide are infected with Hepatitis C making it one of the greatest public health threats faced in recent years.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.

Contact Information

  • Contact:
    Corporate Communications Group, Inc.
    David Pomerantz
    516-791-0000 ext. 102
    david@ccgnewyork.com