PolyMedix Receives National Science Foundation Grant to Support Development of Antimicrobial Sutures

12th Grant or Research Contract Received by PolyMedix To Date

PolyMedix, Inc. (OTC BB: PYMX), an emerging biotechnology company focused on developing new therapeutic drugs to treat serious acute cardiovascular disorders and infectious diseases, has received a grant in the amount of $150,000 from the National Science Foundation to support the development of antimicrobial sutures. PolyMedix has developed a series of novel antimicrobial polymers for device and material applications, which it collectively calls the PolyCides™. This grant will focus on one class of PolyCides that appears to be well-suited for development as an active agent in antimicrobial sutures. The grant commences on July 1, 2010 and supports six months of research.

The primary goal of the grant is to develop antimicrobial sutures that have broad antimicrobial activity against pathogens associated with surgical site infections (SSIs), and are less likely to develop resistance because of the unique mechanism of action of the PolyCide polymer materials. The development of improved antimicrobial sutures could be an important addition to the comprehensive effort to reduce SSIs. SSIs are the third most common hospital-acquired infection, and may be associated with severe morbidity and mortality. Since more than 60% of SSIs are in the area of the incision, the use of sutures coated with an antibacterial agent may reduce infection rates.

The PolyCide polymers, like PolyMedix’s novel defensin-mimetic compounds, including its lead systemic antibiotic drug PMX-30063, are synthetic mimetics of the host-defense proteins, one of the oldest and most effective antimicrobial defense systems found in humans and virtually all living creatures. These compounds have a novel mechanism of action that directly disrupts the bacterial cell membranes, which we believe makes development of bacterial resistance unlikely to occur. The PolyCide polymers, including those to be studied under this grant, have distinct chemical structures which differ from those of PMX-30063 or other agents which may be studied for human therapeutic applications.

“We are delighted to receive our first grant from the National Science Foundation, which also represents our 12th grant or research contract received to date,” commented Nicholas Landekic, President and C.E.O. of PolyMedix. “We greatly appreciate the National Science Foundation’s recognition of the significance of our novel antimicrobial compounds and unique technology by awarding us this grant. This award will provide the opportunity to further develop the medical device applications of our defensin-mimetic technology, which could provide clinicians with important additional weapons in the fight against surgical site infections.”

If successful, PolyMedix hopes to apply this technology to other wound closure applications to augment infection control. Furthermore, PolyMedix hopes to expand this technology to improve infection control with other medical devices and surfaces, potentially including catheters and implants, where infections may occur and which can lead to removal of the device.

About PolyMedix, Inc.
PolyMedix is a publicly traded biotechnology company focused on the development of novel drugs and biomaterials for the treatment of serious acute cardiovascular disorders and infectious diseases. PolyMedix uses a rational drug design approach to create non-peptide small molecule drug candidates and polymers that mimic the activity of proteins. PMX-60056, PolyMedix’s lead heptagonist compound, is being developed to reverse the anticoagulant activity of both heparin and low molecular weight heparins. PolyMedix believes that PMX-60056 could potentially be a safer and easier to use anticoagulant reversing agent, with broader activity, than the currently approved therapy. PMX-30063, PolyMedix’s lead antibiotic compound, is a small molecule that mimics human host-defense proteins and has a completely different mechanism of action distinct from those of current antibiotic drugs, a mechanism which is intended to make bacterial resistance unlikely to develop. PolyMedix plans to develop this compound for serious systemic Staphylococcal infections, including MRSA. Both PMX-60056 heptagonist and PMX-30063 antibiotic are currently undergoing clinical testing. PolyMedix also plans to continue the development of its PolyCides, polymeric formulations as antimicrobial biomaterials, which can be used as additives to paints, plastics, and textiles to create self-sterilizing products and surfaces.

Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause PolyMedix’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. PolyMedix has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements, PolyMedix’s compounds may not enter or successfully complete clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in PolyMedix’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. PolyMedix undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

Source: Business Wire/Yahoo Finance