NEW YORK, Nov. 1, 2005 (PRIMEZONE) -- Few diseases cause more misery than psoriasis, a condition that occurs when a person's immune system overreacts and begins to attack the skin. Psoriasis is a non-contagious skin disorder which most commonly appears as inflamed, fluid-filled skin lesions covered with a silvery white scale. In its more severe phase, the scaly, red blotches can become itchy or painful and cover large areas of skin.
Approximately 2% of the population suffers from this often painful inflammatory condition. In the United States alone, this translates to about 5.5 million patients, many of whom are suffering from a reduced quality of life, and its effect can be as bad as or worse than many other well known diseases or conditions.
GenaDerm, a specialty dermatological company, is in the race to provide better therapies for more effective treatment of psoriasis. GenaDerm is a subsidiary of Bioaccelerate Holdings Inc. (OTCBB:BACL). The privately held company is co-developing with Immunotech Developments Inc., for Thymodepressin(r) the first synthetic peptide developed for the treatment of autoimmune diseases including psoriasis. Immunotech is a biotechnology-focused firm that works to develop novel therapeutic peptides for the treatment of large market diseases.
Now in clinical development and testing in North America, Thymodepressin(r) has already proved to be an effective treatment for psoriasis in Russia, where the drug was invented and is currently sold.
Professor Vladislav Deigin, Chief Executive Officer and President of Immunotech and inventor of Thymodepressin(r) said, "Immunotech was established to pursue the development and commercialization opportunities presented by a scientific platform for the identification and production of peptides. We are delighted that this has been the basis of developing an effective treatment for such a chronic and debilitating condition. Key therapeutic goals in the treatment of psoriasis are alleviation of the condition, and sustainability of the relief provided by treatment. After successfully treating many psoriasis patients in Russia we are optimistic that clinical trials will confirm this efficacy in other countries."
Christopher O'Toole, Head of Specialty Pharmaceuticals for Bioaccelerate said, "In the United States alone, 30% of psoriasis sufferers or 1.5 million patients are seeking treatment. Of these, roughly one third have moderate to severe psoriasis. We are confident that Thymodepressin(r) will demonstrate similar clinical efficacy for this group of patients as it progresses through its planned clinical trial program, and thus provide more treatment options in the future."
About Bioaccelerate
Bioaccelerate Holdings Inc. (OTCBB:BACL) is a pharmaceutical development organization ("PDO") that seeks to acquire, develop and commercialize novel pharmaceutical compounds in an efficient, cost-effective way. Bioaccelerate uses its broad network of academic, industry and capital market relationships to expedite drug development and raise capital to create and fund its subsidiary companies, which are organized by vertical portfolios in five therapeutic areas: oncology, specialty pharmaceuticals, central nervous system disorders (CNS), cardiovascular disease and anti-infectives.
Bioaccelerate conducts its business directly and through its subsidiaries. The company holds majority equity interests in 10 biopharmaceutical companies, three of which are public, and holds minority interests in four biopharmaceutical companies, two of which are public. The company also holds a minority equity interest in a public nanotechnology company. Bioaccelerate's strategy relies on its development network for research, clinical development and project management to guide early-stage compounds from the discovery process through to Phase II/III development where incremental value can be created. Bioaccelerate Holdings is listed on the Over-The-Counter Bulletin Board under the symbol "BACL." For more information on Bioaccelerate, visit the company's website at http://www.bioaccelerate.com.
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