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PITTSBURGH, PA - April 5, 1999: Demegen, Inc. (OTC BB: DBOT) announced today that it retained OTC Financial Network of Needham, Massachusetts for financial communications and shareholder relations services.
Demegen is a research biopharmaceutical firm that develops peptide (small proteins) therapeutics for cancer, bacterial, and viral pharmaceutical applications in addition to peptide-encoded plant genes for the creation of new commercial crops with fortified disease resistance and enhanced nutritional value.
“Demegen is poised to capitalize on the enormous potential of its technology with a proprietary pipeline and licensing agreements with a unit of Dow Chemical, which already generated over $2 million and could yield substantial fees, milestone payments, and royalties in the next 10 years,” said OTC Financial Network President Geoffrey Eiten.
“This is an exciting time to introduce investors to Demegen,” Eiten continued. “The Company is preparing to begin phase one clinicals of its prostate cancer treatment in 1999 and plans to commence similar studies of its anti-bacterial and anti-viral applications over the next 2 to 3 years. We also see growth potential through the alliance with Dow, which not only could yield new discoveries for future agricultural products, but also offers the opportunity to gain valuable insights into Demegen's core technologies.”
Demegen is developing the medical applications of its patented technology platform to treat various diseases, infections, and viruses. The Company's proprietary synthetics demonstrated activity and potent performance characteristics against many cancers and infectious diseases.
Agricultural work at Demegen is focused on designing genes to confer disease resistance on crops as well as enhanced nutritional and protein value. The Company licensed two applications to Dow AgroSciences, the agricultural biotech unit of Dow Chemical (NYSE: DOW), which is evaluating the agricultural use of Demegen's library of over 30,000 compounds.
Demegen CEO Richard Ekstrom said, “We are looking to achieve full stock valuation over the long run by attracting loyal, long-term shareholders and increasing the investment community's awareness of both our fundamental technology strengths and the exceptional potential of our relationship with Dow Chemical.
“At the present time, we do not believe Demegen stock is valued in line with our peers nor that it represents the full scope of our established academic and commercial relationships,” Ekstrom continued. “As we expand the scope of our research through Dow and begin phase one clinicals, we felt it prudent to team with OTC Financial Network in order to focus our investor relations and herald Demegen's success story.”
OTC Financial Network, a division of National Financial Communications Corp., is a financial communications and investor relations firm specializing in the representation of small/micro-cap companies.
Demegen, Inc., founded in 1992, is a research and development firm that designs novel synthetic molecules for the treatment of cancer and infectious diseases as well as disease resistant and nutritionally enhanced commercial crops. The Company currently generates revenues through two licenses of its patented technology to the agricultural unit of Dow Chemical.
Forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including but not limited to, results of research and development, the U.S. Food and Drug Administration and other regulatory agencies, increased competition, product development and commercialization, and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.