Viridax Corporation
Viridax Corporation Completes Production of ‘First Product Candidate’ Bacteriophage as well as Initial Preclinical Testing
Viridax Corporation / Key word(s): Study 14.09.2010 17:59 --------------------------------------------------------------------------- September 14, 2010 - Viridax Corporation (FSE:VCR) ('Viridax' or the 'Company') is pleased to report that identification of its 'first product candidate' bacteriophage and initial preclinical testing of that bacteriophage as developed have been completed. Bacteriophage are viruses that parasitize and kill bacteria. The first bacterial infection targeted by Viridax is methicillin-resistant staphylococcus aureus ('MRSA'), a deadly infection which constitutes a prevalent and growing problem in hospitals and clinics worldwide. In direct response to this problem, Viridax has defined the manufacturing and purification methods needed to produce commercial amounts of the bacteriophage for further evaluation. Viridax has developed a specific and finely targeted strain of bacteriophage that kills the most common and virulent strains of staph bacteria, including those resistant to the most commonly used antibiotics. Bacteriophage have specific advantages over antibiotics. If a specifically designed and properly developed bacteriophage is introduced into an infection, it will continue to increase in numbers as long as there are bacteria to infect and destroy. As soon as all of the bacteria have been destroyed, the action of the bacteriophage will cease and the remaining bacteriophage particles will be eliminated by natural immune processes. It is critical to note that, because bacteriophage are so specific to the bacteria which they infect, they will not harm beneficial bacteria in the body. With the growing incidence and corresponding costs associated with MRSA and the compelling evidence that points to the ability of bacteria to evolve on a basis that render antibiotics less and less effective in the treatment of MRSA, the power and clinical utility of the bacteriophage being developed by Viridax present not only a potential solution to a growing medical problem but a corresponding significant economic opportunity for Viridax and its shareholders. About Viridax Corporation Viridax Corporation was formed to develop new products for the treatment of respiratory and systemic infections incited by Staphylococcus aureus (S. aureus) and other Staphylococcal species. The management of Viridax is primarily focused on providing safe, effective and affordable treatment alternatives to conventional antibiotics, and to demonstrate the clinical utility of the Viridax products by substantially reducing the incidence, prevalence, morbidity and mortality of targeted bacterial infections in both community and hospital settings. The Company plans to develop products that are less toxic and more efficacious than conventional antibiotics, and at lower cost, but that will target antibiotic-resistant bacteria, thus providing access to extensive global markets. Management intends to manufacture and evaluate the initial S. aureus bacteriophage product in compliance with US Food and Drug Administration (FDA) guidelines to assure approval by US and international regulatory authorities. On behalf of the Board of Directors Viridax Corporation Richard C. Honour, PhD. Chairman of the Board FORWARD-LOOKING STATEMENTS Statements in this document which are not purely historical are 'forward-looking statements', including any statements regarding the intent, belief or current expectations of Viridax Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include, among others, material changes in the global capital markets that may impact negatively on the Company's ability to secure the working capital required to complete the development and production of its pharmaceutical products on a timely basis, the competitive nature of the biopharmaceutical industry and the ability of the Company to attract the personnel required to efficiently execute the Company's business plan. Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as updates may be required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements. Although the Company believes that the plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the applicable securities laws of any such jurisdiction. Richard C. Honour, PhD Chairman of the Board E-Mail: rhono@viridax.com Internet: www.viridax.com 14.09.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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