FT. LAUDERDALE, Fla., Nov. 11, 2003 (PRIMEZONE) -- Tekron, Inc. (OTCBB:TKRN) is undertaking its due diligence of Biovirus, which is proceeding forthwith. It is expected that the deal with Biovirus will close within 30 days without any foreseeable problems. Hence, it has commenced applying for a large $30 million grant over 3 years for the Canadian subsidiary of Biovirus of which Tekron will hold a 50% interest. This funding will be used to advance its research in Herpes Simplex Type 2 (genital herpes), Marak's disease as well as develop new peptide vaccines for equine and bovine herpes infections. Marak's disease in poultry is a serious economic concern. Fowl populations are severely impacted by herpes infections and since the 1980's mortality at times has reached 25% of the flock. Damage due to Marak's disease in poultry has risen from $1.6 billion worldwide to over $1 billion in the U.S alone. Current methods of disease control are the application of two vaccines and the use of naturally resistant varieties of poultry. These methods have met with limited success in controlling the disease. Biovirus is currently testing two novel peptide derived vaccines to control this debilitating disease.
Eighty percent of the world's population has been exposed to one or more types of Herpes viruses, half of which are infected by Herpes simplex. The explosive growth (20 times) of Herpes infections in North America and Europe from 1970 to 1999 has created a serious medical problem that presently remains incurable. Currently, there is not even a treatment for Herpes infections except for antiviral medications, like Valtrex, which only shorten the duration of infection.
An HSV-2 vaccine would be one of the most valuable single vaccine markets in the world. Although Asia exhibits the largest incidence of herpes virus infections, nearly 3 million per annum, the U.S and European markets are the largest both in terms of total sales and profits. Annual vaccine sales would far exceed $5 billion with nearly $2.5 billion in gross margins
The Biovirus computational genomics platform avails itself to develop peptide constructs to be used in therapeutic and prophylactic vaccines for viruses other than the herpes type. An Asian originated coronavirus, the causative agent for SARS has recently been sequenced and shown to be active in felines. This enables an animal model to be developed, and a peptide vaccine developed and tested. The peptide construct may even be useful as a diagnostic test for which nothing is currently available. Since, it is likely that SARS may re-emerge at least as an endemic in the future, it is extremely important that a successful prophylactic treatment be developed immediately.
Although West Nile Virus has been endemic in Europe and Africa for decades, it has only recently emerged in North America. In 1999 a serious outbreak occurred in Queens, NYC resulting in mortality. It is contagious in humans, domestic animals as well as wild birds especially crows. Its vector are mosquitoes, which in turn infect larger hosts, including humans. There currently is no prophylactic or therapeutic treatment available. It is the intent of Biovirus Medical to pursue a peptide construct that well could provide a successful vaccine and therapeutic treatment to this disease.
About Biovirus:
Biovirus Research Corporation is a privately held biopharmaceutical corporation that uses bioinformatics (computational genomics), functional genomics (gene function) and immunology for the diagnosis, prevention and treatment of herpes virus infections and their associated diseases. The company has used its proprietary bioinformatic platform to build a library of novel anti-herpetic peptide constructs that are the active components of several preventative and therapeutic vaccines.
Biovirus over the past 10 years has developed and patented the research discoveries of Dr. Daniel Golubev, renowned Russian virologist and former chair of the Department of Virology at Leningrad State University. Dr. Golubev, while in Russia, discovered the persistence of Influenza A virus, developed its vaccine, discovered a correlation between the herpetic virus genomes and DNA of atherosclerotic plaques and produced along with Alex Chaihorsky, President and CEO of Biovirus, a novel patented peptide vaccine towards Herpes Simplex type I and II. Biovirus developed a novel, mathematical approach in developing peptide vaccines that are non-viral, synthetic and polyvalent. Among other possibilities this approach can be used for extremely rapid development of multiple vaccine candidates. The estimated market for this product is approximately $300 Million per annum.
About Tekron:
Tekron Inc. is a holding company acquiring interests in high technology, medical and environmental biotechnology companies. This information contains certain forward-looking statements and information relating to the Company that are based on the beliefs of the Company or management as well as assumptions made by and information currently available to the Company or management. When used in this document, the words "anticipate," "believe," "estimate," "expect" and "intend" and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein.