BioMS Medical provides corporate update
Dirucotide Update -----------------
The Company has completed its substantive review of the data from the discontinued late-stage trials for dirucotide, its drug candidate for the treatment of multiple sclerosis (MS). BioMS has decided that it will explore a compassionate access and research program with limited financial commitment, but that it will not pursue further late stage clinical trials with dirucotide in MS.
Strategic Investment --------------------
BioMS earlier today announced a
"Spectral represents the type of development opportunity that BioMS is seeking and ideally suited for: investment in a late-stage clinical program with a large market opportunity, and the ability to assist in the successful development of a project using our management expertise," said
Spectral is a leader in the battle against sepsis. Spectral's Endotoxin Activity Assay (EAA(TM)) is the only FDA cleared assay for the measurement of endotoxin in the bloodstream. With the growing awareness for the role of endotoxemia in sepsis, the EAA(TM) can be used to identify patients, enable therapeutics and monitor treatment.
For further information on the investment in Spectral please visit www.biomsmedical.com.
Chief Financial Officer -----------------------
The Company reports that
"We would like to thank Don for his dedication and contributions to our Company over the past seven years. It has been a very positive and productive relationship and we wish Don the best of success in his future endeavors," said
BioMS also reports that it has completed several organizational changes in order to reduce expenditures including a reduction in its staff by approximately half.
About BioMS Medical Corp.
BioMS Medical is a biotechnology company engaged in the investment, development and commercialization of pharmaceutical technologies. For further information please visit our website at http://www.biomsmedical.com.
This press release may contain forward-looking statements, which reflect the Corporation's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation's ongoing quarterly and annual reporting. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.For further information: Tony Hesby, Ryan Giese, Amanda Stadel, BioMS Medical Corp., (780) 413-7152, (780) 408-3040 Fax, E-mail: email@example.com, Internet: http://www.biomsmedical.com; James Smith, Investor Relations, (416) 815-0700 ext. 229, (416) 815-0080 Fax, E-mail: firstname.lastname@example.org