OTTAWA, Dec. 13 /CNW/ - Liponex Inc. (TSX: LPX), a biopharmaceutical
company specializing in developing advanced products related to High Density
Lipoprotein (HDL), often called "good cholesterol," today updated the
development status of its lead product, CRD5. The compound has been in
development for the treatment of dyslipidemia and heart disease.
Liponex has been working to develop an appropriate animal model to
predict CRD5's effects in humans, a task which has very little historical
precedence with HDL drugs. Studies with the new enteric coated formulation of
CRD5 in mini-pigs have been ongoing since July 2007 and to date no significant
effects have been observed for CRD5 relative to control in this model.
Consequently we have discontinued these trials.
The Board and management will assess the next steps for the CRD5 program
in light of these results and, in parallel, continue efforts around strategic
options to leverage the company's assets and resources. There are a number of
alternatives currently under consideration by the Board.
Liponex is a biopharmaceutical company specializing in developing
products related to High Density Lipoprotein (HDL), often called "good
cholesterol." Its drug candidates relate to the various roles of HDL as a
transport vehicle, including removing excess cholesterol from the body,
delivering molecules to cells and removing unwanted materials from the body.
Liponex is listed on the TSX under the ticker "LPX". For more information on
Liponex, visit www.liponex.ca.
Certain of the statements contained in this press release contain
forward-looking statements which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Statements of
"belief" or "expectation" with respect to the success of enteric coating, the
development of animal models to predict HDL drug effects, the undertaking of
future clinical trials for CRD5 as well as CRD5's efficacy in raising HDL
levels, are based primarily upon results derived to date from the Company's
pre-clinical research and development and its results from completed Phase I
and Phase I/II clinical trials. While the Company believes that it has
reasonable scientific basis upon which to make such statements, it is not
possible to predict whether a new therapeutic agent will be prove to be safe
and/or effective in humans. The Company cannot guarantee that it actually will
achieve the plans, intentions or expectation and undue reliance should not be
placed on those forward-looking statements. The Company does not expect to
update forward-looking statements continually as conditions change. Investors
are referred to the full discussion of risk factors associated with the
Company's business contained in the Company's periodic regulatory filings,
which can be found in the SEDAR database at www.sedar.com.
For further information:
For further information: Investor Relations, Michael Moore, The Equicom
Group Inc., (416) 815-0700 ext. 241, firstname.lastname@example.org