Healthcare Industry News: BD
News Release - February 27, 2006
Symbollon's New Family of Safe, Broad-Sprectrum Antimicrobials to Kill Pathogens Without Drug ResistanceInitial Product to Eradicate Drug-Resistant Staph
FRAMINGHAM, MA--(Healthcare Sales & Marketing Network)--Feb 27, 2006 -- Symbollon Pharmaceuticals, Inc. (OTC BB:SYMBA.OB ) today announced its intention to enhance its core business strategy by developing a family of safe, broad-spectrum antimicrobial products based on its proprietary free molecular iodine platform technology that will eradicate pathogens without drug resistance. With the increasing threat of the spread of multi-drug resistant "superbugs," Symbollon anticipates that its new line of products will help eradicate these disease-causing pathogens. Symbollon's new family of products represents a safe alternative to existing antibiotics which are suffering from ever decreasing effectiveness due to resistance. Symbollon's enhanced business strategy will focus on placing one new drug into clinical trials each of the next several years. The first new product in the antimicrobial family is Nasodine(TM), a proprietary formulation to eliminate Staphylococcus aureus (Staph) in the nasal cavity.
"Symbollon's business strategy is to build a strong, opportunistic pipeline of drugs based on our proprietary platform technology," declared Paul C. Desjourdy, the President and CEO of Symbollon Pharmaceuticals, Inc. "Our heathcare system is under attack as antibiotics become increasingly ineffective in dealing with bacterial infections. We believe that our free molecular iodine technology can play a significant role in eradicating various types of infections based on its superior microbial characteristics. Our technology has the ability to safely kill all known forms of pathogens with no drug resistance. We estimate that these new products will address unsatisfied market opportunities worth billions of dollars. With the combination of the new family of Symbollon's antimicrobial products and IoGen, our treatment for fibrocystic breast disease in pivotal phase III clinical trials, we truly believe the future is bright for Symbollon, and its shareholders."
"We plan to initiate clinical development in 2006 for our first new drug, Nasodine," indicated Mr. Desjourdy. "Nasodine is designed to eliminate Staph, including drug-resistant Staph, like methicillin-resistant Staph (MRSA), in the nasal cavity. In America alone, every year about 2 million people acquire bacterial infections while in the hospital and approximately 90,000 of them die as a result, according to the Centers for Disease Control and Prevention in Atlanta. Staph is one of the key pathogens causing those infections, and subsequent deaths. While Staph is often found on human skin, one of its preferred habitats is the nasal cavity. Today, the only approved product to eliminate Staph in the nose is an antibiotic. Unfortunately, there is limited use of this product in the healthcare system because of the fear of resistance. Therefore, Staph-based infections continue to rise. Nasodine has the advantage that it can be used prophylacticly without fear of drug resistance. The need for Nasodine is real; it has been estimated that every patient hospitalized with a Staph infection cost the healthcare system about $14,000. In an ideal world, all at-risk patient populations and health care workers would utilize Nasodine to help eliminate the chance of infections. Some of the at-risk patient populations include HIV, surgical and hemodialysis patients. Symbollon believes the market opportunity for Nasodine could exceed $200 million annually."
Symbollon Pharmaceuticals, Inc. (OTC BB:SYMBA.OB ) is a specialty pharmaceutical company focused on the development and commercialization of proprietary drugs based on its molecular iodine technology. Symbollon is conducting a Phase III clinical trial evaluating IoGen as a potential treatment for moderate to severe periodic pain and tenderness (clinical mastalgia) associated with fibrocystic breast disease (FBD). FBD is a condition that affects approximately 20 to 33 million women in the U.S., and there are approximately 7 to 13 million women suffering from clinical periodic mastalgia. The Company believes IoGen also may be useful in treating and/or preventing endometriosis, ovarian cysts, and premenopausal breast cancer. For more information about Symbollon, visit the company's website at http://www.symbollon.com.
This news release contains statements by the Company that involve risks and uncertainties and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including, but not limited to, the risks and uncertainties associated with whether (i) future clinical trial results will support the use of IoGen for the treatment of fibrocystic breast disease, (ii) the clinical data acquired from Mimetix Inc. will be acceptable exposure data for IoGen, (iii) Symbollon will be able to obtain the resources necessary to continue as a going concern, (iv) IoGen will successfully complete the regulatory approval process, (v) competitive products will receive regulatory approval, (vi) the Company's ability to enter into new arrangements with corporate partners, (vii) the Company's partner for IoGen will be able to meet its financial obligation to pay for the IoGen clinical development and (viii) such other factors as may be disclosed from time-to-time in the Company's reports as filed with the Securities and Exchange Commission.
Source: Symbollon Pharmaceuticals
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