PolyMedix and University of Massachusetts Receive $750,000 Contract from U.S. Army Research Office

Supports Continued Development of Novel Antibacterial Compounds Against Drug Resistant Bacterial Biofilms

PolyMedix, Inc. (OTCBB:PYMX.ob), an emerging biotechnology company focused on developing new therapeutic drugs to treat infectious diseases and acute cardiovascular disorders, and the University of Massachusetts, Amherst (UMass), have received a Phase 2 Small Business Technology Transfer (STTR) contract in the amount of $750,000. This contract will allow PolyMedix to conduct further testing on antimicrobial compounds which PolyMedix identified under the initial Phase 1 contract. These compounds are being developed to specifically treat multi-drug resistant biofilm-embedded bacteria. This award represents the 15th grant or research contract received to date by PolyMedix.

This two-year contract is sponsored by the U.S. Army Research Office. Under this Phase 2 STTR contract, PolyMedix and UMass will conduct further research and analysis, including in vitro and proof of concept in vivo studies, to identify lead small molecule defensin-mimetic antimicrobial compounds active against bacterial pathogens associated with biofilm infections. PolyMedix expects to receive $524,000 under this contract.

“We appreciate the continued interest of the U.S. Army Research Office, and granting us this contract which allows us to expand upon our research conducted under the Phase 1 portion that we received in August 2009,” commented Dr. Richard Scott, Vice President of Research at PolyMedix. “Biofilm infections can be serious and life-threatening. We believe that our small molecule defensin-mimetics, with their completely different mechanism of action that is intended to make bacterial resistance unlikely to develop, could be an important advance in addressing biofilm infections. We look forward to continuing to work with the U.S. Army to develop our compounds for military applications and to safeguard our all-important armed services.”

There is a growing need to develop new drugs and therapies to combat biofilm infections. Biofilms form when certain microorganisms, such as bacteria, adhere to living or non-living surfaces and begin to reproduce. Biofilms can form on just about any material or surface including metals, plastics, prosthesis, medical implants such as knee and hip replacements, and human tissue. When a biofilm forms on an infection, treatment becomes very complicated as biofilms enable bacteria to survive making them more resistant to antibiotics.

PolyMedix’s small molecule defensin-mimetic antimicrobial compounds are designed to mimic human host defense proteins, the body’s natural defense against bacterial infections. Host defense proteins use a simple, but effective method for killing bacteria and other microbes by targeting the microbial membranes and disrupting them. This mechanism of action is intended to make it difficult for resistance to develop.

PolyMedix’s lead small molecule defensin-mimetic antibiotic compound is PMX-30063. PolyMedix has recently initiated a Phase 2 clinical trial in Canada to evaluate the safety and efficacy of PMX-30063 in patients as a treatment for Acute Bacterial Skin and Skin Structure Infections (ABSSSI) caused by Staph bacteria. Results from two Phase 1 studies demonstrated that PMX-30063 could be safely administered in single or divided intravenous doses, at levels that exceeded theoretical efficacious levels predicted by animal models. In addition, PMX-30063 killed Staph bacteria, including MRSA, in human serum in blood samples drawn from subjects in the study.

This project is supported in part by the U.S. Army Research Office. The content of this press release does not necessarily reflect the position or the policy of the Government, and no official endorsement should be inferred.

About PolyMedix, Inc.
PolyMedix is a publicly traded biotechnology company focused on the development of novel drugs for the treatment of serious infectious diseases and acute cardiovascular disorders. PolyMedix uses a rational drug design approach to create non-peptide small molecule drug candidates. PolyMedix’s lead antibiotic compound, PMX-30063, is currently in Phase 2 clinical trials. PMX-30063 is a small molecule that mimics the mechanism of action of human host defense proteins, a mechanism that is distinct from currently approved antibiotic drugs and is intended to make bacterial resistance unlikely to develop. PolyMedix plans to develop this compound for serious systemic Staphylococcal infections, including methicillin resistant Staphylococcus aureus (MRSA). PolyMedix’s lead heptagonist compound, PMX-60056, has completed Phase 1 testing and is being developed to reverse the anticoagulant activity of both heparin and low molecular weight heparins (LMWH). 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 for reversing heparin and LMWH. In addition to its small molecule therapeutics, PolyMedix has polymeric formulations with the same mechanism of action as PMX-30063, PolyCides™, which are intended for use in antimicrobial biomaterials applications such 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 are PolyMedix’s need for, and the availability of, substantial capital in the future to fund its operations and research and development, and the fact that PolyMedix’s compounds may not successfully complete pre-clinical or 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: BusinessWire