SOURCE: Pacgen Life Science Corporation

Pacgen Life Science Corporation

August 16, 2016 08:00 ET

Pacgen Announces Progress on PAC-113 License

VANCOUVER, BC--(Marketwired - August 16, 2016) - Pacgen Life Science Corporation ("Pacgen" or the "Company") (TSX VENTURE: PBS) announced today that its licensing partner, General Biologicals Corporation ("GBC") (TWO: 4117), has made significant progress on PAC-113, also known as P113. GBC has added new products into its P113 product portfolio and received positive research results for second generation P113 compounds.

New skin care products have been added to the P113 product lines. Currently, the P113 product portfolio includes oral mouthrinse solution, oral mouth spray, feminine cleansing wash, feminine soothing spray, as well as anti-bacterial hand cream. These non-prescription OTC products can be purchased at pharmacy stores in Taiwan and online at www.p113lab.com. GBC is expanding its distribution channels and developing additional products including P113 products specifically targeted at the relief of dry mouth symptoms. "We are very pleased with the P113 product development," said Christina Yip, President and Chief Financial Officer of Pacgen. "The recent progress at GBC, including the development of second generation compounds, further reinforces current and future valuation of P113," added Ms. Yip.

Two new compounds called P113Du and P113Tri have been identified as the next generation P113 antimicrobial peptides. Based on a research study conducted by Institute of Molecular and Cellular Biology and Department of Life Sciences of National Tsing Hua University, Taiwan in collaboration with GBC, P113Du and P113Tri contained significant fractions of α-helix conformation and were less sensitive to high salt and low pH than P113. These new antimicrobial compounds exhibited increased antifungal activity against planktonic, biofilm cells and clinical isolates of C.albicans and non-albicans Candida spp. The study results suggest that P-113Du and P-113Tri are promising candidates for development as novel antifungal agents. A manuscript entitled "The antimicrobial peptides P-113Du and P-113Tri function against Candida albican" has been accepted for publication by the Antimicrobial Agents and Chemotherapy of the American Society of Microbiology. A new international patent application has been filed in China under the Patent Cooperation Treaty and regional applications have been filed in United States and Taiwan.

About Pacgen

Pacgen is a life sciences company focused on the commercialization of innovative life science products. The Company has an exclusive worldwide license to develop and commercialize a novel antifungal called P113, also known as PAC-113. The Company has sublicensed its P113 right to General Biologicals Corporation ("GBC"), who has recently launched non-prescription over-the-counter ("OTC") products containing P113. In accordance with the sublicense arrangement, Pacgen is entitled to royalties based on product sales and sublicensing revenue.

About P113

P113 is a 12 amino-acid antimicrobial peptide derived from a naturally occurring histatin protein found in saliva. Histatin proteins play important roles in the human body's natural defense system against oral diseases including oral cavity, oral candidiasis and esophagus infection among others. P113 invented by Professor Frank Oppenheim of the Boston University, had been tested in research studies for its antimicrobial activity against a number of fungal and bacterial strains. For both bacteria and fungi, the compound had been shown to kill cells as opposed to simply inhibiting their growth. P113 was evaluated in Phase 1 and Phase II clinical studies for treatment of gingivitis and oral candidiasis up to Phase II. Clinical data to date suggest that P113 is safe and effective in the treatment of gingivitis and oral candidiasis. GBC has recently launched non-prescription OTC products including mouthrinse solution, oral mouth spray, feminine cleansing wash, feminine soothing spray, as well as anti-bacterial hand cream. These products are marketed in Taiwan under a tradename P113+ with an assigned INCI (International Nomenclature of Cosmetic Ingredients) name called sh-oligopeptide-81.

For additional information, please visit www.pacgenlife.com.

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Forward-looking Statements

Certain statements included in this press release may be considered forward-looking. Statements relating to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments constitute forward-looking statements. All forward-looking statements are based on Pacgen's current beliefs and expectations as well as assumptions relating to the successful completion of its clinical trials and pre-clinical studies, the time and process required to obtain regulatory approval for commercialization of its product, the ability of Pacgen to raise additional capital in future on favourable terms, the impact of competitive products and pricing in the market, new product development, and the successful and timely completion of corporate collaborations or licensing arrangements for its research programs. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. Such factors include, among others, our stage of development, lack of product revenues, additional capital requirements, risk associated with completion of clinical trials and obtaining regulatory approval, dependence on collaborative partners, and our ability to protect our intellectual property.

Wherever possible, words such as "anticipate", "believe", "expect", "may", "could", "will", "potential", "intend", "estimate", "should", "plan", "predict", "project" or the negative or other variations of such expressions reflect Pacgen's current beliefs and assumptions and are based on the information currently available to Pacgen. Certain risks and uncertainties, including those risk factors identified by Pacgen in its annual management's discussion and analysis dated July 29, 2016, may cause our actual results, level of activity, performance or achievements to differ materially from those implied by forward looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. Pacgen disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For all forward-looking statements, Pacgen claims the safe harbour for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Contact Information

  • For further information, please contact:
    Christina Yip
    President and Chief Financial Officer
    Tel: 778-389-4323
    Email: christina.yip@pacgenlife.com