PharmaEssentia announces milestone in development of new third-generation interferon hepatitis B and

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(Taiwan) PharmaEssentia announces milestone in development of new

third-generation interferon hepatitis B and C drug candidate

(Press release, PharmaEssentia Corp.)

18 June, 2008

Drug development company PharmaEssentia Corp. today announced that new PK/PD

data on P1101, its third-generation PEG-interferon-alpha drug candidate for

hepatitis B and C, showed the drug is particularly long-lasting compared to the

two other pegylated-interferon drugs currently on the market. This indicates

that PharmaEssentia's drug may only need to be injected once every two or more

weeks by the patient, compared to the usual once-a-week administration.

Reducing dosage frequency is considered desirable for minimizing side effects

and increasing the efficacy; and is more convenient for the patient as such

biopharmaceutical drugs must usually be administered by injection.

Additionally, the modified structure of PharmaEssentia's PEG-INF-alpha makes for

a purer drug, leading to a simpler manufacturing process and better quality

control over the end product, particularly when produced at higher doses. P1101

has only a predominant single positional isomer connecting the PEG molecule on

the protein, compared with 8 to 14 isomers found in the two other

pegylated-interferon drugs, respectively.

Less frequent dosage should also mean a lower end cost and better compliance for

the patient.

Assuming that upcoming clinical trails are all completed successfully, Dr. KC

Lin, founder and CEO of PharmaEssentia, sees the drug gaining rapid acceptance

and market share upon launch.

" Our drug will be purer, easier to manufacture, and more importantly, a more

convenient and cheaper interferon option for doctors and patients. It's set to

transform the whole picture of HCV/HBV treatment, " explained Lin.

Summary of pharmacokinetics (PK) and pharmacodyamics (PD) studies:

PK results: Mean serum concentrations of PEG-IFN after a single subcutaneous

dose of 30ug/kg of one of the two other pegylated-interferon drugs currently on

the market, or P1101 (PharmaEssentia) were measured. PEG-IFN was detectable in

all four animals through 14 days after P1101 administration, while PEG-IFN was

only detectable in two out of four monkeys for the 14 days duration after

administration of the two other pegylated-interferon drugs.

PD results: A single subcutaneous dose of 30 ug/kg of one of the two other

pegylated-interferon drugs currently on the market, or P1101, resulted in

significant increase in serum 2',5'-OAS (biomarker of IFN-alpha exposure)

concentration. Serum 2',5'-OAS concentration reached its Cmax 72 hours after

dosing and gradually declined for the animals treated with the other two

pegylated-interferon drugs. For animals receiving the P1101 dose, serum

2',5'-OAS concentration also reached Cmax 72 hours after dosing. However,

2',5'-OAS concentration only decreased slightly throughout the 14 days of the

study period.

About PharmaEssentia Corp.:

PharmaEssentia Corp., a Taiwan-based biopharmaceutical company, is focusing its

efforts on making improvements to the biologics family of drugs using a

combination of its own proprietary novel site-specific PEGylation, a medicinal

chemistry approach, and protein engineering technologies to create new

" PEGylated " biologics.

Through its novel technology platform, PharmaEssentia Corp. has a series of

PEGylated biologics called the " PEG-5 biologics " : PEG-IFN-alpha-2b, IFN-beta,

GCSF, EPO, GH, undergoing various stages of research and development. The

current market for the diseases targeted by these drugs is estimated at around

US$25 billion with an annual growth rate of 9 percent.

PharmaEssentia's PEG-IFN-alpha-2b a third-generation long-acting interferon for

the treatment of hepatitis B and C, is currently in preparation for US FDA IND

filing in the 3rd quarter of 2008. PEG-IFN-alpha-2b has only a single form

compared to 14 and 8 with the two other pegylated-interferon drugs currently on

the market, thus requiring a potentially less frequent administration regime.

Through a unique refolding process, PEG-IFN-alpha-2b has a better yield (up to

as high as 40 percent compared to wild type INF) and longer half-life

(administration every two weeks or more) at a competitive CMC (Chemical

Manufacturing Control).

PharmaEssentia at BIO 2008, San Diego:

We are currently seeking qualified co-development or out-licensing partners for

our PEG-Interferon-alpha drug candidate (HBV, HCV). Please contact us to arrange

a meeting during the partnering sessions at BIO 2008, 17-18 June, in San Diego,

or feel free to visit us at booth 2501 at the Taiwan Pavilion.

PharmaEssentia CEO Dr. KC Lin will also be giving a presentation at the BIO

2008, Business Forum, Room 5B, 3:00pm, 18 June, 2008. You are very welcome to

attend.

Contact:

PharmaEssentia Corp.

13F, No. 3 YuanQu St., Nankang District

Taipei 115, Taiwan

Tel: 886 2 2655 7688

Fax: 886 2 2655 7626

www.pharmaessentia.com

Ms. Shu-Fen Li, MBA

Director of Business Development and Strategic Planning

Ph: +886-2-2655-7688 ext. 7812

shufen_li@...

For editors:

PEG-IFN-alpha-2b = PEG-IFN-á-2b

IFN-beta = IFNâ

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