|February 14, 2005
|HEMISPHERX BIOPHARMA, INC. ELECTS PRESIDENT AND CHIEF OPERATING OFFICER
|…Experienced Executive in Business Development of Biopharmaceuticals
Philadelphia, PA, Monday, February 14, 2005: Hemispherx Biopharma, Inc. (AMEX: HEB) a leading company in the development of immune based experimental therapies, announced that R. Douglas Hulse, an executive director of The Sage Group, Inc., an international organization providing senior level strategic management services to the biotechnology and pharmaceutical sector, has been elected and is now serving as Hemispherx’s President and Chief Operating Officer.
Mr. Hulse, a Phi Beta Kappa graduate of Princeton University with a cum laude degree in chemistry and the holder of S.M. Degrees in both management and Chemical Engineering from M.I.T., previously served as Hemispherx’s Chief Operating Officer in 1996 and 1997. During his earlier tenure with the company, Mr. Hulse was instrumental in the development of the liquid form of the experimental immunotherapeutic, Ampligen®, and a plan for scaled up manufacturing production to meet potential commercial requirements. Mr. Hulse has planned, negotiated, and implemented various strategic alliances with North American, European and Asian partners during his career.
“Hemispherx, at this important and exiting time for the Company, is fortunate to acquire the services of one combining both outstanding professional qualifications and detailed knowledge of Hemispherx and its clinical programs,” said Dr. William A. Carter, Chairman of the Board of Directors. “In addition to strengthening our management team, Mr. Hulse’s services will significantly augment our primary focus of completing the work necessary for the Company to complete the New Drug Application for Ampligen® in the potential treatment of CFS.”
Hemispherx recently completed a phase III clinical trial of its experimental drug Ampligen® for the treatment of CFS. According to the Center for Disease Control (CDC), CFS is a severely debilitating disease affecting at least between 400,000 to 800,000 people in the United States alone with a total annual value of lost productivity, excluding costs for healthcare, estimated at $9.1 billion. At the January 10, 2005 meeting of the Department of Health and Human Services Chronic Fatigue Syndrome Advisory Committee, CDC researchers reported that CFS patients were far more impaired than multiple sclerosis patients by measuring symptom frequency and intensity and disability.
“I am enthusiastic and appreciative for the opportunity to rejoin Hemispherx at this late stage of the Ampligen® development process and look forward to working toward a successful NDA filing for Ampligen® in the treatment of CFS,” said Mr. Hulse.
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 N® 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 200 patents comprising its core intellectual property estate, a fully commercialized product (Alferon N®) and GMP certified manufacturing facilities for its novel pharma products. For more information please visit www.hemispherx.net
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 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. Only Clinical Studies under well-controlled conditions can establish efficacy and safety of any product. 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 indication.