ImaRx Therapeutics Reports Business Update and Financial Results for Fourth Quarter and Full... ( TUCSON Ariz. March 31 /- ImaRx Th...)

ImaRx Therapeutics Reports Business Update and Financial Results for Fourth Quarter and Full Year 2007

Date:3/31/2008

TUCSON, Ariz., March 31 /PRNewswire/ -- ImaRx Therapeutics, Inc., a biopharmaceutical company developing and commercializing therapies for vascular disorders, today provided a corporate update along with fourth quarter and full year 2007 financial results.

2007 Year in Review:

-- Initiated TUCSON Phase I/II clinical study

-- Received FDA approval to market urokinase under new trade name

Kinlytic(TM)

-- Signed strategic licensing agreement with Bracco International

-- Completed Initial Public Offering

-- Awarded Phase I STTR grant from the National Institutes of Health

-- Signed research collaboration with Royal Philips Electronics

-- Extended expiration dating of urokinase product inventory

Key Corporate Highlights:

PhaseI/II TUCSON Clinical Trial and SonoLysis Program Update

In January of 2007, the Company initiated its TUCSON trial, a Phase I/II clinical study designed to assess the safety of the Company's proprietary MRX- 801 microbubbles in combination with ultrasound and tPA in ischemic stroke patients. The TUCSON trial was designed with four 18-patient cohorts to evaluate increasing doses of MRX-801. In the second dose cohort, the Company observed a greater number of reported symptomatic intracranial hemorrhages in subjects receiving treatment relative to controls and after consultation with the Data and Safety Monitoring Board elected to stop enrollment of the study.

Bradford A. Zakes, President and CEO stated, "Although we would have preferred to obtain more efficacy and safety data at higher doses of microbubbles, we were encouraged by the data from the first cohort of patients. One vial of MRX-801 in combination with ultrasound and tPA did not result in any reported cases of intracranial hemorrhage in the treatment group, suggesting a safe dose for further clinical studies. Furthermore, an analysis of activity from the first cohort indicated a trend
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ImaRx Therapeutics Reports Business Update and Financial Results for Fourth Quarter and Full...( TUCSON Ariz. March 31 /- ImaRx Th...)