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PolyMedix, Inc.’s (PYMX) PMX-30063 Top-Class Defensin-Mimetic Antibiotic Displays Promising Activity Against Drug-Resistant Bacteria

|Includes: Innovation Pharmaceuticals Inc. (IPIX)

PolyMedix, Inc., a biotechnology company focused on developing innovative therapeutic drugs to treat serious acute-care conditions, today announced that PMX-30063, its prime defensing-mimetic antibiotic, has displayed promising activity against 1,000 worldwide strains of Gram-positive staphylococci and streptococci clinical isolates, including strains resistant to linezolid, daptomycin, and methicillin. Evidence of these encouraging results was presented at the 21st Annual European Congress of Clinical Microbiology and Infectious Disease (ECCMID) in London, United Kingdom. The presentation is available for viewing on PolyMedix's website at www.Polymedix.com.

"These important and encouraging data further substantiate the robust antimicrobial activity of PMX-30063 regardless of the existing mechanisms of resistance or geographic source of the isolates," commented Dr. Bozena Korczak, Vice President of Drug Development at PolyMedix. "This is the first time we are presenting to the scientific community PMX-30063′s activity against worldwide multi-drug resistant strains of staphylococci and streptococci that are associated with skin and skin structure infections."

PMX-30063 is the flagship formula in a new class of antibiotics known as defensing-mimetics. It is a tiny molecule crafted to imitate human-defense proteins, the body's natural response to protect against bacterial infections. PMX-30063 eliminates bacteria using the same mechanism as host-defense proteins, targeting and disrupting bacterial membranes. This remains an extremely effective means to eradicate bacteria, as widespread resistance to this mechanism has never developed.

PMX-30063 has successfully completed testing in three Phase 1 clinical studies, in addition to enrolling in a blinded and controlled Phase 2 trial comprised of patients with Acute Bacterial Skin and Skin Structure Infections, conditions caused by Staph aureus bacteria. The results of this study are expected in the first half of 2012.

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