ActivBiotics Sells Proprietary Assets, Including Drug Product Candidates

    LEXINGTON, Mass., Dec. 18 /CNW/ -- ActivBiotics, Inc. today announced
that following a review of strategic options after its clinical trial of
Rifalazil failed in peripheral arterial disease patients, 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 bidding for the
assets, which may be purchased separately or in combination, will begin today
and end on February 1, 2008. Any person interested in purchasing the assets or
learning more about the bidding process should contact the Assignee, Mr.
Joseph Finn, Jr.
    "The Board of Directors has decided to pursue the sale of the company's
clinical and preclinical drug assets," said Steven C. Gilman, Ph.D., Chairman
of ActivBiotics. "We believe that our anti-inflammatory Phase II drug
candidate and our antibacterial library of compounds are of significant value
to companies in those therapeutic areas," added Gilman. 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 a potent antibacterial agent with activity
mainly against pathogenic Gram-positive bacteria. Rifalazil was found
efficacious in a Phase II Chlamydia STD clinical trial, and, separately, a
protocol has been submitted to the FDA to begin a Phase II clinical trial in
carotid artery atherosclerosis. 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

    Request for Further Information

    Interested parties can obtain a bidder's package by contacting Joseph F.
Finn, Jr., CPA (, 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. For
technical information or questions regarding the products all such inquiries
shall be directed to Christo Shalish,, and/or Glenn

    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
or unanticipated events.

For further information:

For further information: Joseph F. Finn, Jr., CPA, for ActivBiotics,
Inc.,, +1-781-237-8840; Christo Shalish,, or Glenn Kazo,, both of
ActivBiotics, Inc.; Web Site:

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