Navigation Links
Rx for Africa, Inc. and Zirus, Inc. Create Joint Venture, ZiRx Therapeutics, Ltd.
Date:8/10/2009

NEW YORK, Aug. 10 /PRNewswire-FirstCall/ -- Rx for Africa, Inc. and Zirus, Inc., have entered into a letter of intent to form ZiRx Therapeutics, Ltd., a joint venture that will utilize the anti-viral discovery platform of Zirus, Inc. to target host cell proteins with drugs that potentially block or stop the spread of infectious diseases in completely new ways. Targeting host proteins may lead to broad spectrum antiviral drugs as well as drugs that are less susceptible to viral resistance. The joint venture will include as many as 25 specifically identified drugs with positive preliminary antiviral data that have been approved in a major territory or are in a Phase III trial in a major territory for a different indication. The strategy is for these target drugs to be 'repurposed' against infectious disease (such as the H1N1 swine flu virus) and brought on the market quickly in Ethiopia through Rx for Africa's Ethiopian manufacturing and distribution capabilities. These drugs can then be produced inexpensively to sell throughout Africa and other available global markets.

David Perryman, President and CEO of Zirus, Inc. said, "Repurposed clinically approved drugs represent an opportunity to skip early and risky stages of drug development and create substantial nearer-term value with time frames that are appropriate to help in Africa, where every day matters. Teaming with Rx for Africa represents a real opportunity to accelerate the drug development process, build infrastructure in Africa, and create a lower-cost platform for these potential life-saving drugs."

Mulugetta Bezzabeh, PhD, CEO of Rx for Africa, Inc. commented, "Rx for Africa is deeply glad to have this opportunity to work on cutting edge science developing cures for infectious viral diseases such as HIV and pandemic flu that have ravaged African populations. Ethiopia has significant potential as a market for such products."

The joint venture is subject to final due diligence and respective board approvals of a definitive agreement.

There will be a conference call Tuesday, August 11th at 2PM EDT with David Perryman, Mulugetta Bezzabeh and Bill Pursley to discuss the joint venture. Dial-in number 800-346-7359 / Entry code: 204402

About Rx for Africa, Inc.

Rx for Africa, Inc. invests in companies manufacturing generic pharmaceuticals in Sub-Saharan Africa. Rx Africa (Ethiopia) P.L.C. is a wholly-owned operating subsidiary, with a campus, factory and R&D center just outside Addis Ababa, Ethiopia, currently producing six generic pharmaceutical products. The company sells 100% of its current production through distributors. Shares of Rx for Africa, Inc. common stock are traded under the symbol RXAF.PK on the Pink Sheets. For more information, visit Rx for Africa's website: http://rxforafrica.com.

About Zirus, Inc.

Zirus, Inc. is a private company with an proprietary platform of host targets and compounds to combat virtually every commercially relevant virus. The Zirus platform addresses infectious diseases in major markets unmet by vaccines and traditional antiviral drugs. The platform has the potential to deliver broad spectrum antiviral drugs (Zirus Antivirotics(TM)) that can anticipate pandemic flu, bioterrorist designed viruses, and newly emerging viruses. By targeting host factors, the Zirus platform has the potential to reduce the incidence of viral resistance and lead to a new generation of more durable antiviral drugs. For more information, visit Zirus, Inc.'s website: http://zirus.net.

Forward Looking Statements

This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks and uncertainties, including the failure to complete the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners or others that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.


'/>"/>
SOURCE Rx for Africa, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. AIDS Remains Leading Cause of Death in Africa, According to UN
2. Rx for Africa, Inc. to Benefit from New Ethiopian Government Policy on Pharma Industry
3. Former Executive at Genzyme Corp. and Osiris Therapeutics, Inc. to Head Business Advisory Board at Rx for Africa, Inc.
4. Rx for Africa, Inc. Signs Letter of Intent for Strategic Alliance with Rusan Pharma, Ltd. of India
5. Travis McCoy, Lead Vocalist & Songwriter of Alternative Hip Hop Band Gym Class Heroes, Travels to South Africa, Philippines and India as MTV Internationals 2009 Staying Alive Foundation Ambassador
6. Not all risk is created equal
7. S.C. BlueCross Creates Corporate Planning Unit, Promotes Davis to Vice President
8. TriWest Creates First-of-its-Kind Partnership to Offer Military Leaders With Grief Support Program
9. Mother and Daughter Create Lead-Free/Safe Bibs and Solve Messy Mealtime Problems
10. Braun Challenges Business School Talent To Create A Buzz
11. Exceptional Childrens Foundation Merger with Kayne Eras Center Creates One of States Most Comprehensive Nonprofits Serving the Disabled
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... Ontario (PRWEB) , ... February 05, 2016 , ... After ... Scarborough General Hospital Burn Unit, plastic and cosmetic surgeon Dr. Wayne Carman transitioned to ... Scarborough Hospital. He successfully completed his first three-year term as chief and began a ...
(Date:2/5/2016)... , ... February 05, 2016 , ... The American public ... such water may be safer than regular municipal or well water. The recent experience ... host Sharon Kleyne, could go a long way toward increasing public acceptance of recycled ...
(Date:2/5/2016)... ... February 05, 2016 , ... Pivot ... 2015 Best in KLAS: Software & Services for HIT Implementation Support & Staffing ... report independently ranks vendor performance by healthcare executives, managers and clinicians representing over ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... CitiDent, announces that it is now welcoming orthodontist, Dr. Amanda Cheng, to ... a complete range of oral health care, including general dentistry, cosmetic treatments, periodontics, ...
(Date:2/5/2016)... ... February 05, 2016 , ... California Mobile Kitchens ... debut of their latest mobile kitchen model, featuring customizable stainless steel interiors and ... commercial kitchens for use anywhere in the U.S. Many of their units can ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... Feb. 4, 2016 Wegener Polyangiitis - ... Markets Direct,s, ,Wegener Polyangiitis - Pipeline Review, H2 ... therapeutic pipeline. This report provides comprehensive information ... with comparative analysis at various stages, therapeutics assessment ... of administration (RoA) and molecule type, along with ...
(Date:2/4/2016)... LONDON , Feb. 4, 2016 ... Identifying and Commercializing First-in-Class Innovation ... disorder associated with chronic inflammation of the airways ... of COPD symptoms make the disease one of ... cause of death in the world. COPD is ...
(Date:2/4/2016)... 4, 2016 In response to the opioid abuse ... Commissioner for Medical Products and Tobacco, along with other FDA ... agency,s approach to opioid medications. The plan will focus on ... in pain access to effective relief. ... , Re-examine the risk-benefit paradigm for opioids and ensure that ...
Breaking Medicine Technology: