|June 19, 2003
|HEMISPHERX ENTERS AGREEMENT WITH BUSINESS ASIA CONSULTANTS
|An American/Chinese Cooperative Agreement to Accelerate SARS program
Philadelphia, PA, Thursday, June 19, 2003: Hemispherx Biopharma, Inc. (AMEX: HEB) announced today that it has entered into a definitive Agreement with Business Asia Consultants (BAC), with offices in the US and Hong Kong. BAC assists the Company in defining and implementing a successful business strategy and venture in the Asia Pacific Region.
The Agreement stipulates that BAC will assist Hemispherx in its efforts to develop a program for SARS in the People’s Republic of China. BAC will identify potential partners, finalize the Clinical Protocol in association with prominent Chinese physicians and interact with the different Chinese regulatory bodies. Furthermore, BAC will act as a facilitator of the Guangdong Medicine Group Corporation (GMC) and Hemispherx relationship. The Company recently signed a letter of intent with GMC related to its SARS program. More information on GMC can be found on their company website www.gdmg.com.cn.
About Business Asia Consultants
BAC is an international business development company with extensive experience in the Pacific Rim. Principals have had significant success in commercialization of biotechnology based drugs and medical devices. The company provides strategic market planning, program development and implementation, corporate positioning in China, sales distribution selection and export management. BAC has extensive operational experience in the Asia Pacific Region, specifically in the areas of Health Care and medical devices. The company has numerous contacts with a wide variety of distribution and manufacturing channels and good rapport with medical professionals and government organizations. Several members of the team are fluent in English and Mandarin.
While the incidents of SARS have been momentarily reduced, there is widespread believe among epidemiologists and health care officials that a major disease return is expected in the fall. A top National Institutes of Health infectious disease Director stated today “We are just one case of the disease reappearing.”
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®.
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 .
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.