Orcrist Bio Inc. Receives Approval from European Competent Authority to Initiate its Planned Phase I, Open-label, Single-ascending-dose, Safety Study... ( CALGARY April 6 / Orcrist Bio Inc. (O...)

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Orcrist Bio Inc. Receives Approval from European Competent Authority to Initiate its Planned Phase I, Open-label, Single-ascending-dose, Safety Study of HYC750

Date:4/6/2009

CALGARY, April 6 /PRNewswire/ - Orcrist Bio Inc. (ORC) a biotechnology company developing stem cell-mobilizing pharmaceuticals, announced today the approval of its Phase I, open-label, single-ascending-dose, safety study of HYC750 in healthy male volunteers, by the European Competent Authority in Seville, Spain. The goal of the study is to assess the safety, tolerability, pharmacokinetics and pharmacodynamics (induction of hematopoiesis) of HYC750, a patent-protected formulation of hyaluronan. The planned study will be conducted by InPEC BV (Breda, Netherlands) at their clinical trial site in Malaga, Spain.

"The approval of our Phase I clinical trial by the European authorities is another significant accomplishment for Orcrist," said Dr. Brett Schonekess, President and CEO of Orcrist. "With this approval we are now positioned to move forward with InPEC as our clinical partner and further develop HYC750 with the goal of confirming its safety profile, and to provide for a clear illustration of its stem cell mobilization properties. Ultimately, this is a key step to further advance the development of our product as a treatment for chemotherapy-related blood cell depletion."

About Orcrist Bio Inc.

Orcrist Bio Inc. is a biotechnology company dedicated to developing and commercializing promising therapeutics for areas in which a clear market opportunity exists. ORC's lead program revolves around HYC750, a novel stem cell mobilizer compound that promotes the egress of stem cells and other blood cells from the bone marrow into the blood, from which they can be harvested and applied toward treating chemotherapy-related blood cell depletion. Orcrist is actively looking to add to its pipeline exploring the innate properties of HYC750 and its effects on stem cells, as well as through in-licensing opportunities of other products with clear market potential. ORC is located in Calgary, Alberta. The company is financed by its founder
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