VIAP VIA Pharmaceuticals Inc (CE)

VIA Pharmaceuticals, Inc. (PINKSHEETS: VIAP), a biotechnology company focused on the development of compounds for the treatment of cardiovascular and metabolic disease, today announced dosing of the first healthy volunteers in a Phase I clinical trial of VIA-3196, the Company's orally administered, liver-directed thyroid hormone (THR) beta receptor agonist for the treatment of high LDL cholesterol and other dyslipidemias including high triglycerides and elevated Lp(a).

As a beta-selective THR agonist, VIA-3196 is designed to specifically target receptors in the liver involved in metabolism and cholesterol regulation, and avoid side effects associated with THR activation outside the liver. In preclinical studies, VIA-3196 demonstrated a rapid reduction of non-HDL cholesterol, triglycerides, and fatty liver, and synergistic activity when used with statins.

"There remains a significant unmet need for new and more effective therapies that reduce the lipids linked to heart disease, particularly among high risk patients whose LDL cholesterol is not controlled by current therapies," said Rebecca Taub, MD, Senior Vice President, Research & Development for VIA Pharmaceuticals. "By targeting a distinct mechanism of lipid metabolism, VIA-3196 has the potential to address hypercholesterolemia and other dyslipidemias when given alone or in combination with other lipid lowering agents. We are pleased that the first volunteers have been dosed with the study drug and no adverse events have been reported."

"Today's announcement is a significant milestone for VIA Pharmaceuticals, and an important first step in the clinical development of VIA-3196," said Lawrence Cohen, PhD, Chief Executive Officer of VIA Pharmaceuticals.

The Phase I clinical trial of VIA-3196 (ClinicalTrials.gov ID: NCT01367873) is an ascending single-dose study to evaluate the safety, pharmacokinetics and pharmacodynamics of VIA-3196 in healthy subjects. The single-center trial will enroll approximately seventy-two subjects and is being conducted by Cetero Research at its clinical study site in Fargo, ND. VIA-3196 was first developed by Hoffmann-La Roche Inc. and inlicensed by VIA Pharmaceuticals in December 2008.

About VIA Pharmaceuticals, Inc. VIA Pharmaceuticals, Inc. is a biotechnology company focused on the development of compounds for the treatment of cardiovascular and metabolic diseases. VIA's drug candidates include VIA-3196 and other compounds to address underlying causes of cardiovascular disease: high cholesterol, diabetes and inflammation. For more information, visit: http://www.viapharmaceuticals.com.

Forward-Looking Statements This press release may contain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or to VIA's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause VIA's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Factors that may cause actual results to differ materially from current expectations include, but are not limited to: our ability to obtain necessary financing in the near term, including amounts necessary to repay the 2009 loan from Bay City Capital following the April 1, 2010 maturity date, and the 2010 loan, as amended, from Bay City Capital by the September 30, 2011 maturity date (or earlier if certain repayment acceleration provisions are triggered); the safety and efficacy of VIA-3196; the complexities in designing and implementing Phase 1 and Phase 2 clinical trials; our ability to timely recruit and enroll patients in any future clinical trials; our ability to obtain necessary FDA approvals; our ability to successfully commercialize VIA-3196; our ability to obtain and protect our intellectual property related to our product candidates; our potential for future growth and the development of our product pipeline; our ability to form and maintain collaborative relationships to develop and commercialize our product candidates; general economic and business conditions; and the other risks described under Item IA "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 on file with the SEC.

All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and VIA undertakes no obligation to update publicly any of these statements in light of new information or future events.

Contact Information: VIA Pharmaceuticals, Inc. Lawrence K. Cohen Chief Executive Officer 415.283.2209 Media contact: Andrea Rabney Argot Partners 212.600.1902