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MIGENIX Reports First Quarter Fiscal 2009 Financial Results
Date:9/15/2008

VANCOUVER, Sept. 15 /PRNewswire-FirstCall/ - MIGENIX Inc. (the "Company" or "MIGENIX") (TSX: MGI; OTC: MGIFF), a clinical-stage developer of drugs for infectious diseases, reports financial results for the three months ended July 31, 2008 and provides a corporate update on its programs and other matters.

UPDATE ON DRUG DEVELOPMENT PROGRAMS

Omiganan 1% gel (Omigard(TM)/CPI-226/MX-226; topical cationic peptide; prevention of catheter-related infections): Cadence Pharmaceuticals, Inc. ("Cadence"), our development and commercialization partner, has today announced that it is engaged in discussions with the US Food and Drug Administration ("FDA") regarding the statistical analysis plan for the Central Line Infection Reduction Study ("CLIRS") Phase III trial and that these discussions, which are being conducted under a Special Protocol Assessment, must be completed prior to unblinding the data from the trial. As a result, Cadence revised its guidance for reporting the results of the CLIRS trial from the fourth quarter of calendar 2008 to the first quarter of calendar 2009. With positive results in the CLIRS trial, Cadence continues to expect to submit a New Drug Application ("NDA") for OmigardTM to the FDA in the second quarter of calendar 2009. Upon successful completion of various milestones in this program (starting with FDA acceptance of the NDA for filing), we can receive up to US$27MM in development and commercialization milestone payments and a double-digit royalty on net sales. Cadence's commercialization focus is on the United States market and thus Cadence intends to establish a strategic partnership(s) for the commercialization of Omigard(TM) for the rights it has outside of the United States. Our management and Board are working to out- license Omigard(TM) rights that lie outside of the Cadence agreement either in combination with Cadence's rights outside the US to prospective global partners or to potential regional partners for rest of w
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SOURCE MIGENIX Inc.
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