Upstream Begins Animal Efficacy Testing For Leishmaniasis Treatment

Main Category: Tropical Diseases
Also Included In: Clinical Trials / Drug Trials;  Pharma Industry / Biotech Industry
Article Date: 29 Jul 2008 - 4:00 PDT

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Upstream Biosciences Inc. (OTCBB: UPBS) announced that it is collaborating with Makerere University in Kampala, Uganda to evaluate the efficacy in animals of more than 20 proprietary drug candidates as potential treatments for Leishmaniasis in humans. Drug resistance has greatly reduced the effectiveness of existing Leishmaniasis treatments.

Joel L. Bellenson, Chief Executive Officer of Upstream, said the animal testing may determine whether one or more of the drug candidates have sufficient anti-parasitic activity to proceed down a path to commercialization.

"Initiation of efficacy testing in animals is the latest in a series of milestones we have achieved in the past 12 months to develop treatments for several tropical diseases," said Bellenson.

Bellenson said Upstream has demonstrated in vitro efficacy and in vivo (in animals) safety for potential treatments for Leishmaniasis, Trypanaosomiasis, and Malaria.

Leishmaniasis, Trypanaosomiasis (African sleeping sickness), and Malaria are caused by related parasites that have developed resistance to available treatments. Leishmaniasis afflicts millions of people living in Africa, India, and the Middle East. An estimated 60 million people and 50 million cattle and other animals in sub-Saharan Africa are at risk of contracting African Sleeping Sickness. According to the World Heath Organization, about 40% of the world's population is at risk of Malaria. These diseases will be included in the United States Food and Drug Administration's proposed priority review voucher program designed to provide financial incentive to companies developing treatments.

"If we are successful, we believe there will be a strong market for our drugs in Asia, Africa, and the Middle East, which include the fastest growing economies in the world," said Bellenson. "In addition to these growing markets, we could monetize our drugs via the US FDA priority voucher program."

The leishmaniasis testing will occur at Mulago Hospital, Kampala under the direction of Dr. Joseph Olobo, Associate Professor of Microbiology, Department of Parasitology and Microbiology at Makerere University. Mulago is the largest hospital in Uganda and serves as the teaching hospital for Makerere University Medical School.

About Makerere University

Makerere University located in Kampala, Uganda is one of sub-Saharan Africa's oldest and most prestigious institutions of higher learning. It is among the largest universities in East and Central Africa, with a student population of over 30,000 undergraduate and 3,000 postgraduate students. Makerere consists of 22 faculties, institutes and schools and is an active center of research. While some faculties including Medicine were founded as early as 1924, Makerere was established as the University of East Africa in 1963, and became an independent national university of the Republic of Uganda in 1970. For more information visit: http://www.mak.ac.ug

About Upstream Biosciences, Inc.

Upstream Biosciences is focused on developing and commercializing drug candidates to treat tropical diseases, including leishmaniasis, trypanosomiasis (African sleeping sickness) and malaria. Caused by parasites that have developed resistance to available treatments, these diseases afflict millions of people living in the tropics with death, illness, malnourishment and economic hardship. Upstream's drug candidates are generated using its proprietary computer-assisted drug discovery process. The Company's lead drug candidates have demonstrated anti-parasitic efficacy in vitro and positive safety data in animals.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) the Company's drug candidates constitute potential treatments for Leishmaniasis in humans; (ii) animal testing may determine whether one or more of the drug candidates have sufficient anti-parasitic activity to proceed down a path to commercialization; (iii) if the Company is successful, the Company believes there will be a strong market for drugs in Asia, Africa and the Middle East; and (iv) the Company could monetize its drugs via the US FDA priority voucher program. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that the Company does not execute its business plan; (ii) the inability of the Company to keep pace with technological advancements in the field of genetic diagnostics and the treatment of tropical parasitic diseases; (iii) the Company's inability to adequately protect its intellectual property or the Company's inadvertent infringement of third party intellectual property; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at http://www.sec.gov.

Makerere University

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