- Funding Represents Second Contract Awarded to Paradigm for Biomarker
Discovery During Second Quarter -
RESEARCH TRIANGLE PARK, N.C., June 23 /PRNewswire-FirstCall/ -- Paradigm
Genetics, Inc. (Nasdaq: PDGM), a biotechnology company, announced today that
it has received a second Fast Track Small Business Innovation Research Phase
I/II contract from the National Institutes of Health (NIH), this one entitled
"Metabolomics: Alcohol Induced Toxicity." The funding for this second
contract supports the application of biochemical profiling to the discovery of
biomarkers for alcohol-related diseases. "Fast Track" refers to a mechanism
used by the NIH to expedite the decision and award of applications that have a
high potential for commercialization.
The first phase, a six-month study that commences September 1, 2004, is
funded by NIH's National Institute of Alcohol Abuse and Alcoholism, and will
be undertaken in collaboration with the University of North Carolina at Chapel
Hill. Phase I includes preclinical studies examining the acute and chronic
effects of high doses of ethanol, an addictive toxin that is primarily
processed by the liver. Using mass spectrometry, the Company will identify key
biochemicals in liver, brain and plasma that are altered in association with
changes in tissue pathology and other traditional measures of disease, such as
elevated serum enzyme levels. The altered biochemicals will be mapped to their
relevant biochemical pathways as a means of determining a mechanism and
assessing a causal linkage to disease. Upon successful completion, the Phase I
study will be extended into a Phase II study where the metabolomic assessment
of plasma, liver and brain metabolites will also include the integrated
analysis of gene expression.
"We are happy to see our pioneering work in the area of biochemical
profiling and data integration acknowledged through this fast track award.
This research should enable us to find better ways of diagnosing the diseases
often attributable to alcohol abuse," said Thomas J. Colatsky, Ph.D., Vice
President of Human Health Research at Paradigm Genetics. "Liver disease
continues to be a major health problem, and is often difficult to diagnose
until its later stages. This award will not only help in the continued
building of our biomarker discovery program, but also in extending our
relationship with the UNC-CH. We have been collaborating with UNC-CH in
ongoing clinical studies on novel biomarkers for liver injury."
"I am excited that this collaboration with Paradigm Genetics will provide
us with the opportunity to discover unique metabolic biomarkers that relate to
and predict pathological changes induced by acute alcohol abuse and alcoholism
in liver, brain and perhaps in other critical target organs," said Fulton T.
Crews, Ph.D., Director, Bowles Center for Alcohol Studies, and UNC-CH
Professor of Pharmacology and Psychiatry.
The fast track contract is worth up to approximately $850,000, with
$100,000 funded for the six-month Phase I part of the study and up to $750,000
over two years for Phase II, upon the successful completion of Phase I. This
project has been funded in whole or in part with federal funds from the
National Institute of Alcohol Abuse and Alcoholism, National Institutes of
Health, Department of Health and Human Services, under Contract
No. HHSN281200410004C.
About Paradigm Genetics
Paradigm Genetics is a biotechnology company applying its proprietary
systems biology platform to the discovery of safer, more effective drugs and
agrichemicals. Paradigm Genetics has major collaborations with the National
Institute of Environmental Health Sciences, Bayer CropScience, the Monsanto
Company, Pioneer Hi-Bred International, the National Institute of Standards &
Technology's Advanced Technology Program, and L'Oreal Inc. For more
information, visit http://www.ParadigmGenetics.com .
This press release contains forward-looking statements, including
statements regarding the Company's expectations for using its systems biology
platform to discover safer, more effective drugs and agrichemicals. Such
forward-looking statements are based on management's current expectations and
are subject to a number of risks, factors and uncertainties that may cause
actual results, events and performance to differ materially from those
referred to in the forward-looking statements. These risks, factors and
uncertainties include, but are not limited to, Paradigm's early stage of
development, history of net losses, technological and product development
uncertainties, reliance on research collaborations, uncertainty of additional
funding and ability to protect its patents and proprietary rights. Certain of
these and other risks are identified in Paradigm's annual report on Form 10-K
for the year ended December 31, 2003 and in its quarterly report on Form 10-Q
for the quarter ended March 31, 2004, each filed with the Securities and
Exchange Commission. The Company does not intend to update any of the
forward-looking statements after the date of this release to conform these
statements to actual results or to changes in our expectations, except as may
be required by law.
SOURCE Paradigm Genetics, Inc.
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Related links:
http://www.ParadigmGenetics.com
CONTACT:
Brian Ritchie or Mark Vincent of EURO RSCG
Life NRP, +1-212-845-4200
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