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NexGenix Pharmaceuticals Enters into Exclusive World-wide License to Develop Novel Hsp90 Inhibitors
Date:9/26/2007

Company to develop for treatment of neurofibromatosis and cancer

NEW YORK, Sept. 26 /PRNewswire/ -- NexGenix Pharmaceuticals Holdings, Inc., a privately held New York biotechnology company focused on developing drugs to treat the genetic disorder neurofibromatosis and related sporadic tumors, today announced that it has entered into a definitive agreement with Universite Louis Pasteur (ULP) and the Centre National de la Recherche Scientifique (CNRS) to in-license a novel family of Hsp90 inhibitors.

"Our preliminary evaluation of these compounds has yielded promising results in NF2 and cancer models", said Dr. Allan Rubenstein, CEO of NexGenix. "While targeting the inhibition of protein folding chaperones such as Hsp90 is an approach that is seeing success in clinical trials for cancer, this target has additionally been shown to be potentially promising for a number of therapeutic indications. We intend to evaluate this compound series for the treatment of several disorders."

Under the terms of this agreement, NexGenix will have an exclusive worldwide license to develop and commercialize the technology for human and animal therapeutic and diagnostic use from ULP and CNRS. NexGenix will be responsible for all development and commercialization costs and activities. In return, ULP and CNRS will be entitled to certain maintenance fees, milestone payments and royalties.

The company has additionally entered into a Collaborative Research Agreement with the Institut de Sciences et d'Ingenierie Supramoleculaires at ULP to further understanding of structure activity relationships and opportunities to improve the pharmacokinetic properties of the in-licensed Hsp90 inhibitor compound series. This research program is to be conducted at ULP by Nicolas Winssinger, PhD. Dr. Winssinger is one of the inventors of the compound series and is a member of the NexGenix Scientific Advisory Board.

About NexGenix Pharmaceuticals

NexGenix Pharmaceuticals is a US-based biotechnology company focused on drug development for Neurofibromatosis Types 1 and 2 and related sporadic tumors. Neurofibromatosis, or NF, is a genetic disorder characterized by the development of tumors along nerves. NexGenix has assembled a team of top NF clinicians and researchers on its Scientific Advisory Board and has developed a proprietary screening platform for both Neurofibromatosis Type 1 and 2. NexGenix will soon seek an IND for a unique treatment for NF1.

For more information, please visit the NexGenix website at http://www.nexgenixpharm.com. The information on our website does not, however, form a part of this press release.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Certain information contained in this news release is forward-looking and is subject to unknown risks and uncertainties. The actual results, performance or achievements of the company may differ materially from the results, performance or achievements of the company expressed or implied by such forward-looking statements.


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SOURCE NexGenix Pharmaceuticals Holdings, Inc.
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