|February 22, 2002
|Hemispherx Defamation Trial Results in Claims of Both Parties Being Denied Jury Fails To Award Damages Against Asensio;
|Asensio's Counterclaims Withdrawn, Unable To Be Reintroduced
Philadelphia, PA, Friday, February 22, 2002: Hemispherx Biopharma, Incorporated (AMEX: HEB) announced today that a jury in the Pennsylvania Common-Pleas Court, based in Philadelphia, has failed to return a verdict in its favor against Manuel Asensio and the company controlled by him.
During the course of the trial Manuel Asensio's counter claims against the company were withdrawn with prejudice, so Mr. Asensio can not assert those claims in the future.
The Court process continues as the Court is considering a Motion to enter a verdict in favor of the company, or to award a new trial based on the evidence in the case and the violations of orders of the Court by the defendants during the trial.
Dr. William A. Carter, CEO and President of HEB, commented as follows: ``While we have yet to receive the court's final determination on our claims, the ultimate determination of the value of our science and of our commercial enterprise lies in gaining regulatory approval of our lead drug Ampligen, as well as other drugs in our pipeline. In this regard, we have and continue to intensify our efforts in our FDA-Approved phase III trial of Ampligen for Chronic Fatigue Syndrome (CFS) and our phase IIb trial for HIV/AIDS. We are optimistic that we are moving towards conclusion on both clinical trials, and that we will gain regulatory approval in both cases.''
About Hemispherx Biopharma, Inc.
Hemispherx Biopharma, Inc., Philadelphia, PA, has devoted nearly three decades of exploring, understanding, and mastering the mechanism of ribonucleic acid (RNA) drug technology. The Company's longevity as a biomedical research and drug development institution, coupled with its record of enduring scientific achievement, is evidence of long-term commitment to these promising new classes of drugs for the chronically ill and to bring new therapeutic choices to the global health care community. For more information, please visit the Company's website at http://www.hemispherx.net.
William A. Carter, M.D., CEO & Chairman, Hemispherx Biopharma, Inc. (215) 988-0080
Dianne Will, Investor Relations, (518) 398-6222, Fax: (518) 398-6223
Robert Giordano, Institutional Investors, MRB, (212) 230-1727, Fax: (212) 230-1734
HEB's Web Site: www.hemispherx.net
Information contained in this news release other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risks of competition, changing market conditions, changes in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. In addition, the company cannot with absolute certainty predict the outcome of current or future legal matters for which it is a party to. Accordingly, actual results including financial results may differ materially from those in any forward-looking statements. Additionally, all the referenced investigational drugs and associated technologies of the company are experimental in nature and as such are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. The forward-looking statements represent the Company's judgement as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.