Viridax Corporation
Viridax Corporation Signs Research and Development Agreement with American Federal Agency
Viridax Corporation / Key word(s): Contract 21.09.2010 18:30 --------------------------------------------------------------------------- Viridax Corporation (FSE:VRC) ('Viridax' or the 'Company') is pleased to report that the Company has entered into a Co-operative Research and Development Agreement ('CRADA') with the Department of Agriculture in the U.S.A. The CRADA is focused on the development of recombinant lytic fusion protein-based products which represent the next generation of biopharmaceutical products which Viridax intends to market. The products in question will be based on enzymes derived from bacteriophage designed for the treatment of respiratory and systemic infections. The intellectual property for the fusion protein technology and products is owned by the U.S. Government but Viridax retains all marketing rights with respect to specific medical uses. It is estimated that more than 10 percent of all American hospital patients develop an infection, leading to an increase of about US $5 billion in annual healthcare costs. The US Centers for Disease Control and Prevention reported recently that in American hospitals alone, healthcare-associated infections account for an estimated 1.7 million infections and 99,000 associated deaths each year. Ventilator-Associated-Pneumonia ('VAP') accounts for about 15% of hospital-acquired infections. VAP is also responsible for 27% and 24% of infections acquired in the intensive-care unit and coronary care unit, respectively. Mortality rates ranging from 20 to 50% have been reported for VAP, and health-care costs for these patients have been estimated at US $40,000 per episode. Richard Honour, PhD, Vice-President of Research and Development at Viridax commented that: 'While the statistics relating to the occurrence of respiratory and systemic infections in American hospital environments and the associated costs in both dollars and deaths point to a significant and growing problem for the global health care community, Viridax is positioning itself to provide a solution that is designed to relieve suffering and reduce health care costs while building shareholder values.' 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. Vice-President and 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. Vice-President and Chairman of the Board E-Mail: rhono@viridax.com Website: www.viridax.com 21.09.2010 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 ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden