Kiel, Germany Dec.13, 2005 – The first phase in the clinical trial of the newly developed drug Elafin has been successfully completed as announced by Proteo Biotech AG, a wholly owned subsidiary of Proteo Inc. (OTC BB: PTEO). Elafin, a recombinant human protein, is intended for the treatment of inflammatory diseases and is administered intravenously. The trial aimed to assess the safety and tolerability of this biotechnologically manufactured drug.
In the course of the last few weeks, Elafin has been tested on 32 healthy male volunteers at the Institut für Klinische Pharmakologie in Kiel, Germany. All intravenously applied doses were well tolerated. No severe adverse events occurred. Birge Bargmann, CEO of Proteo Biotech AG stated: "The successful conclusion of this trial demonstrates that the therapeutic use of proteins of human origin for these therapeutic purposes is associated with good tolerability. For further development of Elafin, we see a range of indications in the area of inflammatory diseases, particularly in circulatory and lung disorders."
Proteo owns the rights for the production and exploitation of recombinant Elafin. This protein was discovered at the Department of Dermatology of Kiel University, Germany. In humans it is produced in the skin, lungs and mammary glands and protects the Elafin producing cells from destruction by the immune system. Some organs, particularly muscles and blood vessels, do not express Elafin and are thus more susceptible to immune attack. Elafin's abil-ity to block the enzymes elastase and proteinase 3, both of which are involved in tissue damage during inflammatory reactions, makes this protein a promising agent for the treatment of inflammatory lung disorders or severe reperfusion injury occurring after heart attacks, woundings or organ transplantations.
Proteo Biotech AG researches, develops and markets substances for biological and medical research as well as for use as pharmaceuticals. The main focus lies in the development and up-scaling of production methods for active agents in inflammation research. The company was founded in Germany in April 2000 and in November of the same year became a wholly owned subsidiary of Proteo Inc., Irvine. Proteo Inc. intends to out license selected indications and to establish strategic alliances in the development of new applications as well as in marketing.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements and risks and uncertainties involved are further qualified by other factors including, but not limited to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Barbara Kahlke, Ph.D.
Proteo Biotech AG
Am Kiel-Kanal 44
Telephone: +49 431 8888-462
Fax: +49 431 8888-463