LAS VEGAS, July 24, 2007 (PRIME NEWSWIRE) -- Samaritan Pharmaceuticals, Inc. (AMEX:LIV), a developer of innovative drugs, announced today that it has entered into an exclusive license agreement with Georgetown University for "Benzamide Compounds" patent rights to treat HIV and numerous other infectious diseases.
The underlying licensed patent application describes using Benzamide compounds as an innovative new method to treat the HIV virus and other infectious diseases, such as Avian Influenza A, Influenza A & B, and Hepatitis B & C. Under the terms of the agreement, Samaritan will have exclusive worldwide rights to develop, manufacture and commercialize Benzamide compounds in exchange for royalties.
Dr. Janet Greeson, C.E.O. and President of Samaritan stated, "We are especially pleased to cover our Hepatitis C drug with this patent and license. NIH has been studying SP-10T1 for efficacy with Hepatitis C and has discovered it is displaying 96.3% inhibition, in comparison to injectable alpha-interferon's 97%, which is extremely promising for us since SP-10T1 is an oral drug which is considered to provide a substantial benefit over the injectables on the market for Hepatitis C patients."
Samaritan Pharmaceuticals: "Transforming Today's Science Into Tomorrow's Cures..."
Samaritan Pharmaceuticals is a life science company focused on commercializing innovative drugs to relieve the suffering of patients with Alzheimer's, Cancer, Heart disease, and Infectious disease. Samaritan's business strategy is to partner its later stage drugs after Phase II (proof of concept) human studies and has executed its first partnership for its PII, HIV drug SP-01A, with Pharmaplaz, Ireland. The FDA has authorized an investigational new drug (IND) # and a Phase I for its Alzheimer's drug Caprospinol and Samaritan has several other drugs it is advancing to enter (IND) status. In addition, Samaritan's sales arm has acquired the marketing and sales rights to sell ten revenue-generating products in Greece and various Eastern European countries.
Website, http://www.samaritanpharma.com. Please register so we can notify you of upcoming conference calls, news and events.
The Samaritan Pharmaceuticals Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2670
Disclaimer
The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings, and Website. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science, and technology. However, as with any biopharmaceutical under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that products will prove to be commercially successful. For additional information about the factors that affect the company's business, please read the company's latest Form 10-K filed April 13, 2007. The company undertakes no duty to update forward-looking statements.