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October 21, 2003
HEMISPHERX BIOPHARMA APPOINTS JACK M. GWALTNEY JR., M.D. TO SCIENTIFIC ADVISORY BOARD
International Expert on Topical Delivery of Broad-Spectrum Antivirals to Protect Large, at Risk, Populations


Philadelphia, PA, Tuesday, October 21, 2003: Hemispherx Biopharma, Inc. (AMEX: HEB) announced today the appointment of Jack M. Gwaltney Jr., to its new Scientific Advisory Board. Dr. Gwaltney is Chief of the Division of Epidemiology and Virology at the University of Virginia, Director of the Center for Prevention Disease and Injury, and Professor Emeritus.

Dr. Gwaltney’s clinical interests include infectious diseases, clinical virology and acute respiratory disease. Over the last three decades, his research interests have been in the common cold, upper respiratory infections and influenza. Dr. Gwaltney is internationally recognized for more than 30 years of research on rhinoviruses and is author of more than 300 published articles, book chapters and books. He is the recipient of a Research Career Development Award from the National Institutes of Health and is co-editor of the textbook “Infectious Disease and Antimicrobial Therapy of the Ears, Nose, and Throat.” For more information on Dr. Gwaltney’s research please visit www.commoncold.org.

Professor Gwaltney and team are also conducting a human volunteers study to look at the effectiveness of various drugs coupled with a nasal spray containing interferon. Dr. Gwaltney has been closely following the developments in the search for a treatment of severe acute respiratory syndrome (SARS).

Direction of Hemispherx’ Prevention/Protection Program for New and Emerging HumanViruses
An initiative of Hemispherx is to harness and convert the intrinsic power and breadth of the Interferon (IFN) system, an unusually broad-spectrum set of antiviral compounds and historically always in an injectable drug form, into an orally bio-available format. The Company’s two technologies Alferon LDO and Oragens™, represent two independent experimental directions at this goal. Collaboration with various governmental institutions is viewed as essential to tailor the experimental programs to both civilian and military needs.

“We are very fortunate to have Dr. Gwaltney as a member of our Scientific Advisory Board” explains Dr. William A. Carter, the Company’s CEO. “As a fellow Research Career Development Awardee of N.I.H., I have followed the success of Professor Gwaltney closely. We believe that the expertise of Prof. Gwaltney will further accelerate the progress in our new Treatment Initiatives, especially in the development of potential new drug delivery formats of our natural interferon, Alferon N®, as it may relate to new and emerging viruses such as SARS and various Bioterror Protection Programs.”

About the Company’s SARS programs
Hemispherx has in development several experimental 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 releases updates on these programs from time to time. Only clinical testing under well-controlled conditions can determine efficacy and safety on any entity including Alferon N Injection® and Ampligen® in SARS.

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 several proprietary drug positions 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) 398-6369

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 Ampligen® and Oragens(TM)) 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 Alferon® 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.