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HemaQuest Announces Appointment of New Executive Management Team; Company Establishes Headquarters in San Diego
Date:12/3/2010

Perrine, clinical trials in the two most common hemoglobin disorders, sickle cell disease and beta thalassemia, have shown HQK-1001 to be safe and well tolerated.  In particular, HQK-1001 demonstrated the capacity to induce fetal hemoglobin expression in these subjects, which is the key biologic parameter correlated with improved clinical outcomes. Data from these early clinical programs will be reported at the American Society of Hematology meeting in December of this year.  A broader clinical program, initially in sickle cell disease, is planned for 2011.

In conjunction with the appointment of the new management team, corporate offices for the Company will be established in San Diego and existing offices in Seattle will be maintained.

ABOUT HQK-1001

HQK-1001 belongs to a class of compounds originally discovered at Boston University School of Medicine. These compounds, designated as Short Chain Fatty Acid Derivatives (SCFADs), have been shown to stimulate fetal hemoglobin expression and red blood cell production in the laboratory and in small clinical trials in patients with hemoglobin disorders, including sickle cell disease and beta thalassemia.  Increased fetal hemoglobin production in red blood cells was shown to ameliorate the outcome of patients with these diseases. HQK-1001 is an orally administered SCFAD, which has shown an excellent safety profile and biologic effects on fetal hemoglobin induction and red blood cell production in the laboratory, relevant animal models, and in clinical trials carried out in healthy human subjects as well as patients with sickle cell disease and beta thalassemia. Additionally, the compound has received Orphan Drug Designation in the United States and Europe for both sickle cell disease and beta thalassemia.

ABOUT SICKLE CELL DISEASE AND BETA THALASSEMIA

Sickle cell disease is a genetic blood disorder that affects approximately 80,000 patients in the U.S., an
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