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Cordex Pharma Announces Strategic Master Services Equity Agreement With Cato BioVentures
Date:2/23/2009

Phase 3 clinical oversight and regulatory services for Cordex's ATPace arrhythmia drug to be provided by Cato Research

LA JOLLA, Calif., Feb. 23 /PRNewswire-FirstCall/ -- Cordex Pharma, Inc. (OTC Bulletin Board: CDXP) announced today that it has entered into a long-term strategic master services equity agreement with Cato BioVentures.

As part of this agreement, Cato BioVentures will, at the request of Cordex, arrange for Cato Research to perform regulatory services and oversight of clinical testing of Cordex's investigational drug products. Initially, the collaboration will focus on Cordex's Phase 3 pivotal clinical trial with ATPace for the treatment of paroxysmal supraventricular tachycardia (PSVT). Under the agreement, a portion of Cato's compensation for rendered services will be in the form of Cordex equity.

PSVT is an episodic, rapid, regular heart rate originating in the atria. The heart rate in PSVT can range from 150-250 beats per minute. There are approximately 570,000 persons with PSVT in the United States alone, with an estimated 89,000 new cases diagnosed each year. Patients with PSVT may report palpitations, pounding in the chest, chest pressure or pain, weakness, shortness of breath, or dizziness. Unless it self-terminates, PSVT patients need to seek medical intervention to terminate the arrhythmia.

ATPace is an investigational stable formulation of adenosine 5'-triphosphate (ATP) administered by intravenous injection for the acute termination of PSVT. The bradycardic effect of ATP, in particular its blockade of atrio-ventricular (AV) nodal conduction, has been shown in multiple published clinical studies to safely and effectively terminate re-entrant PSVT involving the AV node. Injectable formulations of ATP, similar to ATPace, have been approved and marketed in Europe as pharmaceuticals for over 50 years as safe and efficacious treatments for PSVT.

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SOURCE Cordex Pharma, Inc.
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