Proteo Biotech AG
Proteo, Inc./Proteo Biotech AG: Pulmonary diseases in newborns: Proteo cooperates with the University of Alberta
Proteo Biotech AG / Alliance Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Irvine, CA / Kiel, July 17, 2007 – Proteo, Inc. (OTCBB: PTEO; Frankfurter Freiverkehr: WKN: 925981) and its wholly-owned subsidiary Proteo Biotech AG announced today a collaboration with the University of Alberta in Canada. The Kiel based company in Germany entered into a contract with Dr. Bernard Thébaud, associate professor at the Department of Pediatrics und Neonatology of the Canadian university, to cooperate in research on Elafin for the treatment of pulmonary diseases in neonates. Dr. Thébaud is a recognized authority in this area, with profound knowledge of animal models and clinical experience. Birge Bargmann, CEO of Proteo Biotech AG: »It’s quite an achievement to have won such an experienced physician to do research on the potential of Elafin in the treatment of neonates.« The international collaboration with clinically active scientists is particularly important, since no studies on the application of the anti-inflammatory agent Elafin in neonates yet exist. Within the framework of this new collaboration, Proteo will initially provide support for animal experiments with its lead product on newborn rats. »We will also be making every effort to begin testing Elafin on children as soon as possible. Because of its mode of action, a protein such as Elafin, which occurs naturally in humans, strikes us as particularly appropriate«, explained Professor Oliver Wiedow, Chairman of the Supervisory Board at Proteo Biotech AG. The Canadian partner is also very confident: »Should the planned animal experiments show that Elafin can suppress lung destruction in premature infants, this could be an ideal drug« according to Dr. Bernard Thébaud. On recommendation of the European Medicines Agency (EMEA), Proteo Biotech AG received orphan drug status from the EU commission for its candidate drug Elafin for the treatment of pulmonary arterial hypertension (PAH) and chronic thromboembolic pulmonary hypertension early in 2007. This will safeguard the company’s exclusive marketing rights within the EU for a period of 10 years after acquiring approval. About Elafin: Elafin is a protein that is produced naturally in the skin, lung and breast, protecting the respective tissue from destruction by the immune system. Elafin’s ability to block the activity of destructive enzymes that are involved in inflammatory reactions makes it a highly promising active compound for the treatment of inflammatory lung diseases or severe reperfusion injuries occurring after heart attacks, serious injuries and organ transplantation. The excellent tolerability of Elafin in human subjects was demonstrated in a Phase I clinical single dose escalating study. About Proteo: PROTEO Biotech AG, based in Kiel, Germany was founded in April 2000 and in the same year was taken over by the US-American holding company PROTEO Inc. The company researches, develops and markets compounds for biological and medical research as well as for use as pharmaceuticals. PROTEO holds the production and utilization rights for recombinant human Elafin. PROTEO intends to out-license selected indications and to establish international strategic alliances in order to open up new fields of application and for marketing. The federal state of Schleswig-Holstein funds the innovative development venture of PROTEO Biotech AG with money from the European Fund for Regional Development (EFRE). Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements and risks and uncertainties involved are further qualified by other factors including, but not limited to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise. Contact: Barbara Kahlke, PhD Proteo Biotech AG Am Kiel-Kanal 44 D-24106 Kiel Germany Email : info@proteo.de Telefon: +49(0)431 8888462 Fax : +49(0)431 8888463 DGAP 17.07.2007 ----------------------------------------------------------------------
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