NEW YORK, Dec. 7, 2005 (PRIMEZONE) -- Bioaccelerate Holdings Inc. (OTCBB:BACL) today announced that its portfolio company, Enhance Biotech Inc. (Pink Sheets:EBOI), a Specialty Pharmaceutical company that acquires, develops and seeks to commercialize drugs primarily in the Lifestyle Drug market, has today announced that it has received clearance from the FDA to proceed with Phase 1 clinical trials for its proprietary selective delta agonist, DPI-221, for urge and mixed Urinary Incontinence (UI). This is a novel mechanism for the potential treatment of UI.
The Phase I clinical trial for DPI-221 is planned to begin early in 2006.
UI is a common illness, particularly in the growing elderly population. It is defined as the uncontrollable loss of urine from the bladder and is the primary cause of institutionalization of the elderly. The syndrome is comprised primarily of three subtypes: urge incontinence, stress incontinence and mixed incontinence. The target condition for our UI compound, DPI-221, is urge and mixed incontinence, in which the patient cannot control the emptying of the bladder appropriately after the recognition of the need to urinate. According to Decision Resources, there are approximately 15 million cases of significant urge and mixed UI in the US.
About Bioaccelerate Holdings, Inc.
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 Web site at http://www.bioaccelerate.com.
Bioaccelerate Safe Harbor Statement
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with pre-clinical and clinical developments in the biopharmaceutical industry in general and in Bioaccelerate's compounds under development in particular; the potential failure of Bioaccelerate's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Bioaccelerate's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Bioaccelerate's business, structure or projections; the development of competing products; uncertainties related to Bioaccelerate's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under Bioaccelerate's prior name, Mobile Design Concepts, Inc. Bioaccelerate disclaims any obligation to update these forward-looking statements.
About Enhance Biotech, Inc.
Enhance is an emerging Specialty Pharmaceutical company that acquires, develops and seeks to commercialize drugs primarily in the "Lifestyle Drug" market. Lifestyle Drugs target chronic long-term conditions that are not necessarily life threatening, but can severely affect the quality of life. This is one of the fastest growing sectors in the pharmaceutical industry and Enhance Biotech is uniquely positioned to take full advantage of this opportunity. Our drug pipeline focuses on three major segments in the Lifestyle Drug market: Urology, CNS and Dermatology. Our most clinically advanced products include a drug to treat Premature Ejaculation that is currently in Phase 2 trials and a mixed delta/mu receptor compound for Moderate-to-Severe Pain that has completed Phase 1.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with preclinical and clinical developments in the biopharmaceutical industry in general and in Enhance Biotech's compounds under development in particular; the potential failure of Enhance Biotech's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Enhance Biotech's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Enhance Biotech's business, structure or projections; the development of competing products; uncertainties related to Enhance Biotech's dependence on third parties and partners; and those risks described in the filings with the SEC. Enhance Biotech disclaims any obligation to update these forward-looking statements.
For further information, or to arrange for interviews, please contact:
Bioaccelerate Holdings Inc. Christopher O'Toole 212-332-4387 Chris.otoole@bioaccelerate.com www.bioaccelerate.com