NES-ZIONA, Israel, Sept. 16 PROLOR Biotech, Inc. (OTC Bulletin Board: PBTH) formerly Modigene Inc., today announced that President Shai Novik will present at the upcoming UBS Global Life Sciences Conference at 11:00 AM EDT on Wednesday September 23, 2009. Mr. Novik will discuss recent developments in the company's long-acting human growth hormone (hGH-CTP) program, as well as the status of other development programs, including its long-acting beta interferon (IFN-B-CTP), long-acting Factor VII (FVII-CTP) and long-acting anti-obesity drug candidates.
The audio portion of the company's presentation will be webcast live. It can be accessed at the Investors section of the PROLOR website at www.prolor-biotech.com/?CategoryID=215. An archived version of the webcast will be available beginning three hours after the start of the presentation.
The UBS 2009 Global Life Sciences Conference will be held at the Grand Hyatt Hotel in New York City. For more information, visit www.ibb.ubs.com/Conferences/.
hGH-CTP is PROLOR's proprietary long-acting version of human growth hormone. hGH is used for the long-term treatment of children and adults with growth failure due to inadequate secretion of endogenous growth hormone. It is also sometimes used to counter involuntary weight loss and certain physical manifestations of aging, Patients currently using hGH must inject the drug between two and seven times each week. In contrast, hGH-CTP is expected to require only weekly or bi-monthly injections. In 2008 the annual market for hGH was estimated at $2.7 billion.
PROLOR's CTP technology is based on an amino acid sequence that occurs naturally in humans, the carboxyl terminal peptide. When attached to a therapeutic protein, CTP extends the time that the protein is active in the body. The potential utility of the technology has been demonstrated by Schering-Plough, which in 2009 announced successful data from its Phase III ENGAGE trial demonstrating that women receiving a single injection of the fertility drug FSH-CTP achieved the same pregnancy rates as women receiving seven consecutive daily injections of commercial FSH. This 1,509 patient trial formed the basis for a Marketing Authorization Application by Schering-Plough that is currently under review by the European Medicines Agency. PROLOR is using the same CTP technology to extend the duration of action of human growth hormone and other therapeutic proteins. It has an exclusive license to the CTP technology from Washington University in St. Louis for use with all therapeutic proteins except for the four fertility hormones licensed to Schering-Plough.
ABOUT PROLOR BIOTECH
PROLOR Biotech, Inc. is a biopharmaceutical company applying unique technologies, including its patented CTP technology, primarily to develop longer-acting, proprietary versions of already-approved therapeutic proteins that currently generate billions of dollars in annual global sales. The CTP technology is applicable to virtually all proteins, and PROLOR is currently developing long-acting versions of human growth hormone, interferon beta and erythropoietin, which are in late preclinical development, as well as GLP-1. For more information on PROLOR, visit www.prolor-biotech.com.
Safe Harbor Statement: This press release contains forward-looking statements, including statements regarding the results of current clinical studies and preclinical experiments and the effectiveness of PROLOR's long-acting protein programs, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect PROLOR's business and prospects, including the risks that PROLOR may not succeed in developing any commercial products, including any long-acting versions of human growth hormone, erythropoietin, interferon beta, GLP-1, and other products; that the long-acting products in development may fail, may not achieve the expected results or effectiveness and/or may not generate data that would support the approval or marketing of these products for the indications being studied or for other indications; that ongoing studies may not continue to show substantial or any activity; that the actual dollar amount of any grants from the OCS is uncertain and is subject to policy changes of the Israeli government, and that such grants may be insufficient to assist with product development; and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. The development of any products using the CTP platform technology could also be affected by a number of other factors, including unexpected safety, efficacy or manufacturing issues, additional time requirements for data analyses and decision making, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing and the impact of patents and other proprietary rights held by competitors and other third parties. In addition to the risk factors described above, investors should consider the economic, competitive, governmental, technological and other factors discussed in PROLOR's filings with the Securities and Exchange Commission.
PROLOR CONTACT: MEDIA CONTACT: Shai Novik, President Barbara Lindheim PROLOR Biotech, Inc. GendeLLindheim BioCom Partners Tel: +1 866 644-7811 +1 212 918-4650 Email: [email protected] [email protected]
SOURCE PROLOR Biotech, Inc.