ActivBiotics Extends Deadline to March 14, 2008 for the Sale of Proprietary Assets, Including Drug Product Candidates



    LEXINGTON, Mass., Jan. 15 /CNW/ -- ActivBiotics, Inc. today announced
that due to increased interest from prospective buyers for the purchase of its
proprietary assets, and to allow for additional time to conduct proper due
diligence, it has extended the deadline for placing a bid on the assets to
March 14, 2008.  The Company is selling all or substantially all of its assets
on an "as is" basis through an Assignment for the Benefit of Creditors,
process.  The Assignee of the assets is Mr. Joseph Finn, Jr., CPA (see contact
details below).  The assets may be purchased separately or in combination. Any
person interested in purchasing the assets or learning more about the bidding
process should contact the Assignee, Mr. Joseph Finn, Jr.
    Bidding packages have been assembled and are ready to be distributed
subject to a potential purchaser entering into a standard form confidentiality
agreement.
    
    The Company assets available for sale include:
    
    1.  A superoxide dismutase (SOD) mimetic program consisting of two
clinical-stage drug candidates, M40403 and M40419, and a library of 250 small
molecules which have potential as novel therapeutic agents for the treatment
of inflammatory diseases.  M40403, which has been studied in approximately 700
patients/subjects, has an active IND, and a protocol on file with the FDA
under which a Phase II clinical trial for the treatment of post-operative
ileus can be conducted, and a protocol to initiate a Phase II clinical trial
for the treatment of oral mucositis.  The Company has submitted and expects to
shortly receive Orphan Drug Designation status in Europe and has an Orphan
Drug application pending with the US FDA for the treatment of oral mucositis
in subjects with advanced head and neck cancer.  In addition to these
indications, the SOD mimetics have potential therapeutic uses in a variety of
inflammatory disorders including asthma, chronic obstructive pulmonary
disease, and radiation protection, stroke, and ischemia reperfusion injury.
    2.  An antibacterial library of compounds consisting of approximately 800
small molecules, all new chemical entities (NCEs), which may be developed for
the treatment of serious bacterial infections, including complicated skin and
skin structure infections, endocarditis, osteomyelitis, foreign-body
infections, Clostridium difficile-associated diarrhea (CDAD), as well as
peptic ulcer disease due to Helicobacter pylori, and disease due to Chlamydia
infections. In addition, these NCEs have the potential to be administered as
topical agents for the treatment of acne and for the eradication of
Staphylococcus aureus in nasal passages.
    3.  Rifalazil, a clinical stage compound which has been tested in
approximately 600 patients, is an antibacterial agent with extraordinary
activity against Chlamydia, as well as potent activity against pathogenic
Gram-positive bacteria.  Rifalazil was found efficacious in a Phase II
Chlamydia STD clinical trial in males.  A synopsis has been drafted to test
the potential superiority of rifalazil over azithromycin in treating females
infected with Chlamydia STD. Rifalazil has been granted Fast Track designation
for the treatment of CDAD. The Company has open INDs to continue rifalazil
development for infectious diseases, and atherosclerosis-related disease.
    
    Request for Further Information
    
    Interested parties can obtain a bidder's package by contacting Joseph F.
Finn, Jr., CPA (jffinnjr@earthlink.net, phone 781-237-8840), Finn, Warnke &
Gayton, 167 Worcester Street, Suite 201, Wellesley Hills, MA 02481-3613. The
package is intended to provide prospective purchasers with information
concerning the Company's Sale of Assets and conveyancing documents. The
auctioning of all tangible assets (lab equipment, computers, office furniture,
etc ... ) will be conducted on January 24, 2008. For technical information or
questions regarding the products all such inquiries shall be directed to
Christo Shalish, cshalish@activbiotics.com, and/or Glenn Kazo,
gkazo@activbiotics.com.
    
    Safe Harbor Statement
    
    This press release may contain or incorporate by reference certain
statements that are not historical facts, including statements preceded by,
followed by or that include the words "may," "believes," "will", "expects,"
"anticipates" or the negation thereof, or similar expressions, which
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Reform Act"). All statements
that address events, transactions or developments that are expected or
anticipated to occur in the future are forward-looking statements within the
meaning of the Reform Act. Such forward-looking statements involve risks,
uncertainties and other factors that may cause the actual performance or
achievements of ActivBiotics, Inc. to be materially different from any future
results, performance or achievements expressed or implied by such forward-
looking statements. For those statements, ActivBiotics, Inc. claims the
protection of the safe harbor for forward-looking statements contained in the
Reform Act.  ActivBiotics, Inc. will not undertake and specifically declines
any obligation to publicly release the result of any revisions that may be
made to any forward-looking statements to reflect events or circumstances
after the date of such statements or to reflect the occurrence of anticipated




For further information:

For further information: Joseph F. Finn, Jr., CPA for ActivBiotics,
Inc.,  +1-781-237-8840, jffinnjr@earthlink.net Web Site:
http://www.activbiotics.com

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ACTIVBIOTICS, INC.

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