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"Immtech brings extensive experience in clinical development programsconducted at multiple sites around the world to our joint venture with BCMU,which ranks among the top academic medical institutions in China. Bycombining our complementary resources and expertise, we will deliverhigh-quality research services that will help companies to reduce the time andcosts associated with drug discovery," said Eric L. Sorkin, Chairman and ChiefExecutive Officer of Immtech.
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The joint venture will be established later this year and will provideservices ranging from research planning and risk assessment throughpreclinical and clinical study design. With an initial focus onearly-stage drug discovery, the joint venture will also be positioned tosupport later-stage clinical development including coordination with researchsites, data management, monitoring and reporting for clinical researchprograms. Expansion of the joint venture's operation will include providingcounsel and support related to clinical research regulatory guidelines andregulatory review procedures in China.
"As the world's most rapidly expanding market for healthcare products,China is poised for explosive growth in research in the years ahead,especially related to early stage drug discovery. BCMU is a well establishedresearch center with drug discovery experience, and significant capital andresources. We look forward to building a successful CRS business with Immtechto meet the increasing demand in the market," said Mr. Guo, the Director ofBCMU Resource Management Center.
About BCMU
Beijing Capital Medical University (BCMU) was founded in 1960. It ranksamong the top academic medical institutions in China, and is considered one ofthe key universities in Beijing. BCMU consists of 10 schools, 14 affiliatedhospitals and one teaching institution. The university and its affiliatedhospitals have a staff of about 20,000, including six members of the ChineseAcademy of Sciences or the Chinese Academy of Engineering, more than 1,000professors, and 2,000 associate professors. The university has over 9,000enrolled students. BCMU provides a wide range of doctorate, masters, andbachelors degree programs and specialty certifications.
About Immtech Pharmaceuticals, Inc.
Immtech is a pharmaceutical company focused on the development andcommercialization of new drugs to treat infectious diseases. Immtech has awell defined, expanding library of compounds targeting Hepatitis C,drug-resistant Gram-positive bacteria, fungal infections and other seriousdiseases. It is expanding its targeted markets by applying its proprietarypharmaceutical platform to treat a range of disorders. Immtech holdsexclusive worldwide licenses to certain patents, patent applications andtechnology for products derived from its proprietary pharmaceutical platform.For additional information, please visit the Company's website athttp://www.immtechpharma.com.
"Safe Harbor" Statement under the Private Securities Reform Act of 1995:Statements in this press release regarding Immtech Pharmaceuticals, Inc.'sbusiness which are not historical facts are "forward-looking statements" thatinvolve risks and uncertainties. Actual results could differ materially fromthese forward-looking statements. Factors that could cause or contribute tosuch differences include, but are not limited to, those d
