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Soligenix Reports Third Quarter 2009 Financial Results
Date:11/13/2009

PRINCETON, N.J., Nov. 13 /PRNewswire-FirstCall/ -- Soligenix, Inc., (Soligenix or the Company) (OTC Bulletin Board: SNGX), formerly known as DOR BioPharma, Inc., a late-stage biotechnology company, announced today its financial results for the third quarter of 2009.

Highlights and Recent Developments:

  • The initiation of enrollment in its confirmatory Phase 3 randomized, double-blind, placebo-controlled, multicenter clinical trial evaluating orBec® for the treatment of acute gastrointestinal Graft-versus-Host disease (GI GVHD). The initiation of this trial also triggered a $1 million milestone payment from Soligenix's partner Sigma-Tau Pharmaceuticals, Inc. (Sigma-Tau).
  • The appointment of Robert J. Rubin, MD, to its Board of Directors.
  • The completion of a corporate name change to Soligenix, Inc. from DOR BioPharma, Inc.
  • The completion of a $4.4 million financing with institutional investors including its partner Sigma-Tau.
  • The award of a $9.4 million grant from the National Institute of Allergy and Infectious Diseases (NIAID), a division of the National Institutes of Health (NIH). This grant will fund, over a five-year period, the development of formulation and manufacturing processes for vaccines, including RiVax(TM), that are stable at elevated temperatures.
  • The award of a $500,000 NIH Small Business Innovation Research (SBIR) grant to support the conduct of a Phase 1/2 clinical trial evaluating SGX201, a time-release formulation of oral beclomethasone dipropionate (oral BDP), for the prevention of acute radiation enteritis.
  • The granting of Orphan Drug Designation by the FDA's Office of Orphan Products Development for oral BDP (beclomethasone 17,21-dipropionate, or orBec®) for the treatment of gastrointestinal symptoms associated with chronic GVHD.

"By any measure, the third quarter of 2009 was a pivotal one for Soligenix," stated Christop
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SOURCE Soligenix, Inc.
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