Pacgen completes patient recruitment for Phase I/II trial of novel anti-fungal drug



    TSX-V: PGA

    VANCOUVER, March 15 /CNW/ - Pacgen Biopharmaceuticals Corporation
("Pacgen") (TSX-V: PGA) announced today that it has completed the recruitment
of patients in its Phase I/II study of PAC-113, a novel anti-fungal drug, in
immunocompromised patients. The Company is on track to report proof of
efficacy results from this study early in the second quarter of 2007.
    PAC-113 is a peptide-based anti-fungal targeting oral candida infections
in immunocompromised patients. The Phase I/II clinical trial of PAC-113 is
being conducted at sites in the United States and South Africa and has now
successfully recruited over 90 HIV patients. The trial will establish
preliminary proof of efficacy for PAC-113 in eliminating clinical signs and
symptoms of oral candidiasis, as well as provide additional safety data. The
microbiological response of Candida albicans to PAC-113 will also be
evaluated.
    The Phase I/II study is a head-to-head comparison between PAC-113
mouthrinse and Nystatin oral suspension, with intent to treat oropharyngeal
candidiasis. The study is a randomized, examiner-blinded, parallel design
clinical trial that includes a 14-day treatment phase, and a 14-day follow-up
period, with a day 28 follow-up visit. Subject to positive results from this
study, the Company plans to initiate a Phase IIb study in immunocompromised
patients, to establish the optimal dose of PAC-113, in the fourth quarter of
2007.

    Candida Infection

    Opportunistic growth of candida occurs in people with defective immune
systems, and can be life-threatening if not treated. Candida albicans is the
most common fungal pathogen among immune-compromised, hospitalized patients,
accounting for roughly 50-60% of all bloodstream fungal isolates. Localized
candida infections can cause great discomfort, and if not treated, can spread
from the primary site of infection through the blood stream to cause a
disseminated infection. Disseminated fungal infections are associated with a
high mortality rate.

    About Pacgen

    Pacgen is a life sciences company focused on the development of peptide
therapeutics for the treatment of infectious and inflammatory diseases. The
Company's lead product, PAC-113, is an anti-fungal in a Phase I/II clinical
trial. Preliminary efficacy data from this study is expected in the second
quarter of 2007. Pacgen also has candidates in an early stage research
program. The most advanced of these candidates is a peptide therapeutic,
PAC-G31P, which is currently being investigated in preclinical studies for its
potential to treat inflammatory diseases such as acute respiratory distress
syndrome. For additional information, please visit www.pacgenbiopharm.com.

    NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
    RELEASE. THE TSX VENTURE EXHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
    ADEQUACY OR ACCURACY OF THIS RELEASE.

    Forward looking Statements

    Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from those implied by such statements,
and therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on Pacgen's
current beliefs as well as assumptions made by and information currently
available to Pacgen and relate to, among other things, anticipated financial
performance, business prospects, strategies, regulatory developments, market
acceptance and future commitments. Readers are cautioned not to place undue
reliance on these forward looking statements, which speak only as of the date
of this press release. Due to risks and uncertainties, including the risks and
uncertainties identified by Pacgen in its Final Prospectus dated November 28,
2006, actual events may differ materially from current expectations. Pacgen
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. For all forward-looking statements, Pacgen claims the safe harbour
for forward-looking statements within the meaning of the Private Securities
Legislation Reform.

    %SEDAR: 00024179E




For further information:

For further information: Fred Salari, Manager, Investor Relations,
Pacgen Biopharmaceuticals Corporation, Tel: (604) 629-3380, Fax: (604)
436-4380, Email: fsalari@pacgenbiopharm.com, Web: www.pacgenbiopharm.com

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PACGEN BIOPHARMACEUTICALS CORPORATION

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