Inncardio, Inc. Announces Agreement With Sigmoid Biotechnologies Ltd.
18 April 2005 - 11:02PM
PR Newswire (US)
Inncardio, Inc. Announces Agreement With Sigmoid Biotechnologies
Ltd. NEW YORK, April 18 /PRNewswire-FirstCall/ -- Inncardio, Inc.
(OTC:INDO) (BULLETIN BOARD: INDO) , a company founded by
Bioaccelerate Holdings Inc. (OTC:BACL) (BULLETIN BOARD: BACL) ,
today announced an agreement with Sigmoid Biotechnologies Ltd.,
based in Dublin, Ireland, for the co-development and license of two
novel formulations of established drugs. Upon approval and
commercialization, these drugs, which utilize Sigmoid's proprietary
delivery and formulation technology, are anticipated to achieve
combined peak annual sales of more than $1.0bn. Terms of the
agreement were not disclosed. "We believe the combination of the
products we are developing and the technological expertise provided
by Sigmoid Biotechnologies will extend and enhance our current
product development portfolio," stated Bernard Ross, Chief
Executive Officer of Inncardio. "This agreement represents a
further execution of Bioaccelerate's strategy to invest in new
formulations of well-established drugs and the rapid development
and value enhancement of new drugs. Our business model provides
investors with a balance of lower risk, near-to-market development
products and pre-clinical blockbuster opportunities." "This
agreement provides an accelerated route to market for two of our
lead products. We anticipate that the first of our co-developments
with Inncardio, our first with Bioaccelerate, will be ready for
marketing approval in under 24 months," said Ivan Coulter, Ph.D.,
Chief Executive Officer of Sigmoid Biotechnologies. About Sigmoid
Biotechnologies Ltd. Founded by former Elan and NTera executives in
2003, Sigmoid Biotechnologies is focused on the development of a
proprietary drug delivery technology, LEDDS(TM). Uniquely, LEDDS is
positioned to enable the development of controlled release of drugs
that are formulated in liquid or emulsion format, a process that
previously was suited only to drugs that are available in powder
form. Thus, LEDDS represents a unique opportunity in drug delivery.
As a broadly applicable, patent-protected technology LEDDS is
positioned to exploit opportunities to improve therapeutics in the
pharmaceutical, biopharmaceutical veterinary and nutraceutical
industries. Sigmoid has identified several such opportunities that
will benefit from a range of LEDDS controlled release formats as
well as from the development of novel drug combination approaches
that will lead to improved efficacy or bioavailability. About
Inncardio, Inc. Inncardio, Inc., a company founded by Bioaccelerate
Holdings Inc. (OTC:BACL) (BULLETIN BOARD: BACL) , is a
biotechnology company engaged in the acquisition, development and
commercialization of treatments and therapies targeted at various
cardiovascular and metabolic diseases. The Company's management
team is focused on both the ongoing development of Inncardio's
products to build value prior to partnering and the in-licensing of
additional cardiovascular products to further enhance the Company's
commercial value. The Company currently has six compounds in its
portfolio. The three lead programs are novel formulations of
approved drugs where, re-formulation is predicted to either improve
efficacy or minimize side effects. The three other products are
novel compounds and are in pre-clinical development. Inncardio's
lead development product is being investigated for use as a
post-stroke therapy that has a novel delivery profile and is
targeted to reduce the incidence and severity of ischemic deficits
in patients with subarachnoid hemorrhage from rupture intracranial
berry aneurysm. 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 Inncardio or Bioaccelerate's compounds
under development in particular; the potential failure of Inncardio
or Bioaccelerate's compounds under development to prove safe and
effective for treatment of disease; uncertainties inherent in the
early stage of Inncardio or 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 Inncardio or Bioaccelerate's business, structure or
projections; the development of competing products; uncertainties
related to Inncardio or 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. and Inncardio's prior name Softwall Equipment
Corp. Inncardio and Bioaccelerate disclaim any obligation to update
these forward-looking statements. CONTACT: Bioaccelerate Holdings
Inc. Christopher O'Toole Senior Vice President 212-332 4387
Inncardio Inc. Bernard Ross Chief Executive Officer +44 (0) 207 451
2478 Sigmoid Biotechnologies Ltd. Ivan Coulter Chief Executive
Officer +353 (0) 87 418 6087 Matthew Haines (Investors) Vice
President Noonan Russo 212-845-4235 Emily Poe (Media) Vice
President Noonan Russo 212-845-4266 Ltd. DATASOURCE: Inncardio
Inc.; Bioaccelerate Holdings Inc.; Sigmoid Biotechnologies CONTACT:
Christopher O'Toole, Senior Vice President of Bioaccelerate
Holdings Inc., +1-212-332 4387; or Bernard Ross, Chief Executive
Officer of Inncardio Inc., +44-207-451-2478; or Ivan Coulter, Chief
Executive Officer of Sigmoid Biotechnologies Ltd.,
+353-87-418-6087; or Investors: Matthew Haines, Vice President,
+1-212-845-4235, or Emily Poe, Vice President, +1-212-845-4266,
both of Noonan Russo, for Bioaccelerate Holdings Inc. and Inncardio
Inc.
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