Helicon/Inflazyme memory drug proves safe in initial tests

A multiple dose, placebo-controlled study in healthy young and elderly volunteers has been completed. Preliminary data indicates that HT-0712 (also known as IPL455,903) was safe and well tolerated in all volunteers and at all doses tested. The doses evaluated ranged up to 135mg per subject per day for 14 days.

Further results will be reported when available. According to Helicon, IPL455,903 is currently being prepared for phase IIa clinical testing indicating the compound is on track to enter that study early in 2006. The compound is to be evaluated as a potential treatment for memory disorders.

Inflazyme Pharmaceuticals has an option to participate in the development and commercialization of IPL455,903 in learning and memory disorders on a 50/50 basis. The company can exercise this option at any time up until 90 days after notification by Helicon of the completion of the first phase IIa study.

In order to exercise this option, Inflazyme would pay to Helicon 50% of the clinical development costs incurred to the date of exercise. In return, Inflazyme would receive the right to participate financially, on an equal basis with Helicon, in the development and commercialization of the product. If Inflazyme chooses not to exercise the option, it will receive certain royalties on net sales on any product commercialized.