Omni Bio Announces Progress of BioMimetix Pharmaceutical for Cancer and Radiation Therapy

BioMimetix is a recently formed biopharmaceutical company and intends to develop a new class of compounds of higher potency from previous metalloporphyrin antioxidant mimetics for the treatment of various diseases including radiation toxicity, a frequent side effect of cancer treatment using radiation therapy. BioMimetix is the exclusive licensee of a 2010 issued patent owned by Duke University directed to this new class of compounds. BioMimetix believes that its current development compound, BMX-001, has significantly higher potency than earlier generation compounds. BioMimetix's initial targeted indication for BMX-001 is in glioblastoma, an aggressive brain tumor. Other targeted indications may include radiation therapy in the treatment of head and neck cancer and the treatment of morphine tolerance.

Dr. James Crapo, chief executive officer of Omni Bio and BioMimetix, commented, "We are pleased to communicate that BioMimetix is progressing on plan in its first year of development of a new class of mangano porphyrin (MP) antioxidant mimetics. BioMimetix was successfully launched in July 2011 with its first year capital needs adequately funded. It is proceeding through the GMP synthesis phase of its new molecule, BMX-001, and its goal is to complete preclinical development to enable an IND to be filed and the initiation of human studies in 2012."