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Fibrex Medical Receives Research Grant – FFG supports new treatment concept for sepsis

Fibrex Medical Research & Development GmbH announces the reception of public funding for the development of a new sepsis therapy. The Austrian Forschungsförderungs-Gesellschaft (FFG) is giving financial support until completion of phase I clinical trials. The initial funding amounts to 385.000 Euro. If certain milestones are met, the total grant amount over the three year project period may reach up to 1.28 million Euro.

Fibex develops new drugs to prevent inflammation-based tissue injury. Fibrex Medical´s most advanced product is a short peptide with the code FX06. Currently FX06 is in development for the prevention of reperfusion injury following revascularisation treatment after a myocardial infarction. Phase I clinical trials for this indication will be initiated in December 2005.

Predictive animal models have also shown significant benefit of FX06 for the treatment of sepsis. “Inflammation is necessary to defend the body against infections, but sometimes this inflammatory process gets out of control and induces destruction of healthy tissue” explains Peter Petzelbauer, the company`s CSO. A generalized uncontrolled inflammation is the major cause of sepsis; up to 50% of the patients succumb to the disease. In predictive sepsis models, FX06 increased survival rate to 85%.

To drive its drug development program, Fibrex closed a series A financing over 10 million US-Dollar with leading venture capitalists in March 2005. “The FFG-Grant allows us to push our sepsis project forward. We will be able to expand our team for the project. The start of the first clinical tests are planned for the end of 2008”, explains Rainer Henning, Fibrex’s CEO.

Sepsis is the leading cause of death in non-coronary intensive care units. Worldwide, approximately 1400 people a day die from sepsis. Sepsis provides a market opportunity of $2-3 billion annually for a product that truly reduces mortality. In the U.S. alone, 760.000 new cases of sepsis are recorded each year. The treatment of sepsis patients causes health care costs in excess of $20 billion worldwide.

About Fibrex Medical (www.fibrexmedical.com):
FIBREX Medical Inc. is a development stage bio-pharmaceutical company. Its operational affiliate FIBREX Medical Research & Development GmbH was established in Vienna in February 2001. Concurrently with the foundation of the U.S. holding company, FIBREX Medical has recently completed a US $ 10 million Series A financing round co-led by Atlas Venture and Global Life Science Venture (GLSV). Additional shareholders are EMBL Ventures and Mulligan Biocapital AG. The preclinical development of FX06 for the application of cardial reperfusion injury has been completed. FIBREX will initiate phase I trials in late 2005 with a view to achieve clinical proof of concept early 2007.

Contact:
Dr. Rainer Henning
T +43 / 1 / 59999 – 170
M +43 / 664 / 4159511
E [email protected]

Issued by:
PR&D – Public Relations for Research & Development
Campus Vienna Biocenter 2
A-1030 Vienna, Austria
T +43 / 1 / 505 70 44
E [email protected]

Vienna, 11th August 2005



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