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June 17, 2003
HEMISPHERX SIGNS LETTER OF INTENT WITH GUANGDONG MEDICINE CO.
A Chinese Collaboration Partner for SARS Program


Philadelphia, PA, Tuesday, June 17, 2003: Hemispherx Biopharma, Inc. (AMEX: HEB) announced today that it has signed a Letter of Intent with Guangdong Medicine Corporation (GMC) to organize and initiate a clinical program on SARS.

The letter of intent stipulates that GMC will take responsibility for all the drugs shipped by Hemispherx in relation to the clinical trial. GMC will identify the appropriate study coordinator to oversea treatment and data collection, as well as contract with the local institutions to provide the SARS patients.

Guangdong Medicine Corporation is in the business of providing pharmaceutical distribution and regulatory support in China including the organization of clinical trials in the People’s Republic of China. The Company originally was part of State Drug Administration (SDA).

About the Company’s SARS programs

Hemispherx has in development several programs to potentially combat SARS with the use of its lead compounds Alferon N Injection®, a natural source, multispecies alpha interferon product, and Ampligen®, a double stranded RNA experimental product acting potentially as an immunomodulator and antiviral. The programs cover procedures for combating the effects of coronavirus-induced conditions by the administration of Alferon N Injection® or the experimental compound Ampligen® or in combination therapy. The Company will release updates on these programs in due time. Only clinical testing under well-controlled conditions can determine efficacy and safety on any entity including Alferon N Injection® and Ampligen®.

About Hemispherx
Hemispherx Biopharma, based in Philadelphia, is a biopharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of viral and immune-based chronic disorders. Its flagship products include Alferon and the experimental immunotherapeutics/antivirals Ampligen and Oragens. These novel proteins, approved for a category of STD infection, and experimental nucleic acids are being developed for globally important chronic viral diseases and disorders of the immune system including HPV, HIV, CFS and Hepatitis. Its platform technology includes large and small agent components for potential treatment of various chronic viral infections. Hemispherx has approximately 400 patents comprising its core intellectual property estate, a fully commercialized product (Alferon N) and GMP certified manufacturing facilities for its novel pharma products. The Company plans global clinical trials in the SARS disease arena where it has a proprietary position and the disease represents a major threat to human welfare. For more information please visit www.hemispherx.net.


Contact:
Hemispherx Biopharma, Inc.,
Dianne Will, Investor Relations
(518) 398-6222, Fax: (518) 398-6223

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 risk of competition, changing market conditions, change 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. Any specifically referenced investigational drugs and associated technologies of the company (including AmpligenÒ and Oragensä) 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 judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. Clinical trials for other potential indications of the approved biologic AlferonÒ do not imply that the product will ever be specifically approved commercially for these other treatment indications including SARS. The Alferon® asset for overseas sales for a category of STD is currently being acquired by the Company as part of a multi-step purchase contract of inventory, intellectual property, commercial licenses and GMP approved facilities, which house the biological operations.