VANCOUVER, British Columbia, April 1, 2005 -- The Honourable David L. Emerson, Minister of Industry, today announced a $9.3-million investment in a project to research and develop an important new antibiotic that will meet the challenge of drug resistance. This Technology Partnerships Canada (TPC) investment is part of a $35.6-million project being undertaken by MIGENIX Inc., of Vancouver, to further research and develop its antibiotic drug, MX-2401. "This type of advanced research and development fills a critical innovation gap between fundamental and applied research," said Minister Emerson. "As such, this investment will help contribute to the growth of our emerging biotechnology industry, and to the health and well-being of all Canadians." In the 1990s, antibiotic resistance took on new dimensions with the emergence of multi-drug-resistant bacteria. With the increased use of antibiotics, resistance has become more frequent, leaving health care professionals with ineffective therapies for bacterial infections. It is estimated that national health care costs due to antibiotic resistance total $700 million annually. MIGENIX's MX-2401 represents a significant opportunity to develop an important new antibiotic to treat serious and prevalent diseases, while addressing the increasing challenges of antibiotic resistance. Pre-clinical testing has shown that the drug could be effective for the treatment of hospital-acquired pneumonia, soft tissue infections, complicated urinary tract infections, endocarditis and skin infections. Continued research is aimed at initially proving the drug's efficacy against skin and soft tissue infections, coupled with the development of a cost-effective manufacturing process. Technology Partnerships Canada is a key instrument for advancing research and development toward commercialization. Working in partnership with innovative companies across Canada, TPC shares in the cost of private sector technology projects in aerospace and defence, in environmental technologies, and in enabling technologies like information and communications technologies and biotech. - 30 - For more information, please contact: Christiane Fox Office of the Honourable David L. Emerson Minister of Industry (613) 995-9001 Media Relations Industry Canada (613) 943-2502 The news release and other documents are available on the Technology Partnerships Canada Web site at http://www.tpc-ptc.ic.gc.ca Backgrounder Government of Canada Invests in Research to Combat Antibiotic Resistance The Government of Canada will invest $9.3 million in MIGENIX Inc.'s $35.6-million project to advance the research and development of its MX-2401 antibiotic drug. MX-2401 is a lipopeptide-based drug derived from amphomycin. As a true lipopeptide, it offers substantial advantages over alternative drugs and represents a high degree of innovation. Lipopeptides represent a family of antimicrobial agents active against aerobic and anaerobic Gram-positive bacteria. It is estimated that national heath care costs due to antibiotic resistance total $700 million annually. Increasingly, many species of bacteria, which could once be treated by antibiotics, are now resistant to conventional antimicrobial drugs. This severely limits treatment options. Infectious diseases are a leading cause of death -- second only to cardiovascular disease -- and the need for effective antibiotic drugs affects all Canadians. In pre-clinical testing, MX-2401 demonstrated positive characteristics, which could differentiate it from antibiotic products currently on the market. Its successful development would be a definitive advancement in the field of clinical microbiology. As a new-generation drug alternative, MX-2401 is expected to have a low likelihood of rapid development of resistance and a low likelihood of cross-resistance. It is expected that the first indication for MX-2401 would target complicated skin and skin structure infections, which includes deep wounds, surgical incisions and diabetic foot ulcers. MIGENIX Inc. is committed to advancing therapy, improving health, and enriching life by developing and commercializing drugs in the areas of infectious and degenerative diseases. The company's clinical programs include drug candidates for the treatment of chronic hepatitis C infections (Phase II), the prevention of catheter-related infections (Phase III), the treatment of Alzheimer's disease (Phase I/II) and the treatment of acne (Phase II). MIGENIX is headquartered in Vancouver, British Columbia, with U.S. operations located in San Diego, California. Additional information can be found at http://www.migenix.com.
