Demegen 1/8/02 Press Release

Demegen Scientists Publish Antibacterial Activity of P113D against Cystic Fibrosis Infections

Pittsburgh, PA – January 8, 2002 – Demegen, Inc. (OTC BB: DBOT), a clinical stage biopharmaceutical company specializing in the development of peptides for the treatment of infectious diseases, announced the publication of an article entitled “P113D, an Antimicrobial Peptide Active against Pseudomonas aeruginosa, Retains Activity in the Presence of Sputum from Cystic Fibrosis Patients,” in the December 2001 issue of Antimicrobial Agents and Chemotherapy. The work was sponsored by the Cystic Fibrosis Foundation, and was a collaborative effort of Demegen scientists David Rothstein, Ph.D. and Philip Friden, Ph.D., and investigators Uma Sajjan, Ph.D. and Janet Forstner, M.D., from the Hospital for Sick Children associated with the University of Toronto. Results indicate that P113D, one of Demegen’s proprietary compounds, holds promise as an inhalant therapy for cystic fibrosis (CF) patients.

The results published in this study suggest that P113D not only has excellent killing activity against Pseudomonas aeruginosa, a common and dangerous pathogen associated with CF, but more importantly retains this activity in sputum. Sputum is the thick, viscous substance found in the respiratory tract of CF patients. Sputum, with its high content of proteases, mucus, and DNA, presents an obstacle to the effectiveness of any therapeutic agent in CF patients.

P113 is a fragment of histatin 5, one of the family of small, cationic, histidine rich peptides found in human saliva. Demegen researchers identified P113 as the smallest fragment that retains antimicrobial activity comparable to the parent histatin. The original P113 molecule is already under development by Demegen as a therapy for oral candidiasis and mucositis infections. The P113D molecule was designed by Demegen scientists as a mirror image of P113, but with the amino acid residues in the D configuration. This modification confers stability to the peptide, while retaining P113’s full spectrum of activity.

In August 2001, Demegen announced the award of a $1.5 million Phase II grant from the Cystic Fibrosis Foundation to support the development of P113D as a pulmonary inhalant to treat recurrent lung infections. Cystic fibrosis is an inherited genetic disease that affects more than 30,000 children and young adults in the United States, and approximately 70,000 people worldwide. Chronic pulmonary disease subsequent to long-term bacterial infection accounts for more than 90% of the fatalities attributable to CF. There are currently limited therapeutic choices for CF patients, and there is a clear and urgent need for a new antimicrobial drug. The potential annual market for an effective treatment for CF-associated lung infections is estimated to be over $300 million in the USA, and a total of over $600 million worldwide.

Demegen designs and develops novel peptides, proteins and genes for the treatment of infections, cancer, cystic fibrosis, multi-drug resistant bacteria and fungi. Demegen’s website is www.demegen.com.

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “plan,” “confident that,” “believe,” “expect,” or “intend to,” and similar expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company’s products and technologies, possible delays or failures to develop and/or commercialize any technology, possible risks related to adverse clinical results, impact of alternative technology advances, inherent risks in early stage development of such technology, competitive factors, the ability to successfully complete additional financings and other risks described in the Company’s SEC reports and filings.

Contacts:
Demegen, Inc., Richard Ekstrom, President
www.demegen.com

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