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Article Editor: Christopher Laird Simmons


ProteomTech, Inc. Secures Phase II SBIR Grant, for VEGI Anti-angiogenesis Drug Development

EMERYVILLE, CA - August 24, 2004 /Send2Press Newswire/ -- ProteomTech, Inc. (www.proteomtech-inc.com), a privately held biotech start-up, announced today that the company has been awarded a $750,000 Phase II SBIR grant from the National Cancer Institute (NCI) to develop the new anti- angiogenesis (cancer) protein drug, VEGI - vascular endothelial growth inhibitor.

"The NCI grant will enable ProteomTech to continue development of this exciting protein that blocks tumor growth," says Senior Scientist, Dan Medynski, Ph.D., lead scientist for the VEGI program.

ProteomTech has applied novel methods of expressing, refolding, and purifying proteins for drug candidates and drug targets for a number of large pharma and biotech clients throughout the world.

This time the company applied Pt-Fold™ technology , ProteomTech's patented method for refolding proteins toward the development of the VEGI protein drug candidate. ProteomTech plans to use the SBIR II funding to move VEGI through preclinical testing in animals and up through IND filing. VEGI acts by killing cells that are involved in blood vessel growth, thereby starving the cancer cells of vital nutrients and oxygen. It may prove to be a powerful adjunct to existing anti-cancer therapies.

VEGI is different from Avastin™ (bevacizumab), Anti-VEGF - vascular endothelial growth factor, marketed by Genentech, Inc. of South San Francisco, CA. in that VEGI operates through a completely separate cellular mechanism, triggering cell destruction through apoptosis (cell death) rather than by blocking cell proliferation.

(c) ProteomTech This is the fourth SBIR grant received by ProteomTech, Inc. In 2003 and 2004 the company received three smaller SBIR Phase I grants.

For further information about VEGI and other ProteomTech, Inc. products under development, please see the ProteomTech Inc. website at www.proteomtech-inc.com or contact David Hagebush at hagebush@proteomtech-inc.com.

ProteomTech, Inc., 5980 Horton Street, Suite 405, Emeryville, CA 94608.
Phone: 510-597-9130, Fax: 510-601-6751.



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