Tuesday, October 09, 2007

BaroFold and Avecia Announce Development and Manufacturing Agreement

BaroFold, Inc., developers of PreEMT(TM) protein processing technology, and Avecia Biologics Limited have entered into an agreement for process development and cGMP manufacture of BaroFold's lead, proprietary compound, BaroFeron(TM), interferon beta-1b. Interferon betas are used as therapeutic agents in the treatment of multiple sclerosis and other autoimmune disorders. The program involves Avecia integrating operation of PreEMT(TM) technology alongside other stages of protein purification in both pilot and cGMP facilities. Avecia has both installed a PreEMT(TM) Plus system in its development laboratory and completed manufacture of BaroFeron(TM).

Dr. Jeff Cleland, Vice President of Therapeutic Development at BaroFold said "We are pleased to be working with Avecia on our lead compound and are confident that their competencies in process science and engineering will deliver an solid process for BaroFeron(TM), provide cGMP product for our clinical trials and facilitate the further development of PreEMT(TM) technology for BaroFold and our partners."

Completing the scale-up of the drug manufacturing process will be a significant milestone, providing a platform to potentially expand the use of PreEMT(TM) technology to address areas of fundamental importance for protein manufacturing. BaroFold's technology potentially enables its' corporate partners to develop next generation protein biologics to meet the need for safer and cost effective new therapeutics.

Dr. Stephen Taylor, Avecia's Business Director, said: "We are delighted to be working with BaroFold on development of a manufacturing process for BaroFeron. We are also excited that they have recognized Avecia's track record of technological innovation and have chosen to work with us on scale-up of the novel PreEMT(TM) technology."

Under this program, Avecia will carry out development work to optimize and scale-up the drug manufacturing process for BaroFeron(TM), using BaroFold's proprietary PreEMT(TM) protein processing technology.

About BaroFold

BaroFold is a bio-therapeutics company focused on developing and commercializing improved protein therapeutics based, in part, on its proprietary PreEMT(TM) technology. The PreEMT(TM) technology is intended to enable improved, safer, proprietary protein therapeutics, potentially providing enhanced product life-cycle and creating new protein therapeutics through the use of a patented protein refolding technology. PreEMT(TM) involves the use of high hydrostatic pressure to potentially disaggregate and refold proteins. BaroFold is currently developing its own proprietary protein therapeutic portfolio including BaroFeron(TM), a proprietary product candidate. BaroFold also develops select protein therapeutics in partnerships with other biotechnology and pharmaceutical companies. For additional information about the company, please visit www.barofold.com.

About Avecia

Avecia is a privately owned biotechnology group of companies with recognised leading positions in the process development and manufacture of biopharmaceutical and oligonucleotide medicines. It is also a leading developer of bio-defence vaccines. The Group's Tees Valley, UK site has been developing processes and making protein-based biologics to cGMP since 1998. Products currently being worked on include medicines targeted at forms of cancer, heart conditions, stroke, growth and blood disorders. Customers range from some of the world's largest pharmaceutical companies to small innovative biotech start-up businesses.

This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to initiation and progress of the Company's clinical trial programs. Actual results could differ materially from those projected and the Company cautions investors not to place undue reliance on the forward-looking statements contained in this release.