GREENWOOD VILLAGE, Colo.,
July 27 /PRNewswire-FirstCall/ --
Ampio Pharmaceuticals, Inc. (OTC Bulletin Board: AMPE) today
announced it has finalized negotiations with the directors of DMI
BioSciences, Inc. (DMI) to acquire DMI BioSciences, Inc. This
acquisition will give Ampio access to all rights, royalties and
patents associated with DMI's major assets, drugs for male sexual
dysfunction including premature ejaculation (PE) and combination
drugs to treat premature ejaculation and erectile dysfunction (ED).
These assets are protected by multiple issued U.S. and
international patents and additional patent fillings. Ampio
will also receive valuable Phase III clinical trial data
accumulated for the treatment of premature ejaculation.
DMI's drug for premature ejaculation is a unique lower dose of
an existing approved drug with a well established safety
profile. The drug demonstrated robust efficacy, safety and
patient tolerability in Phase II clinical trials and was licensed
to an international specialty pharmaceutical company which started
Phase III clinical trials in Europe with its proprietary oral
formulation. DMI regained ownership of the male sexual
dysfunction drugs when the licensee withdrew from the latest trials
due to its recent industry merger and an internal refocusing of
therapeutic areas of interest.
"These late stage drugs will complement our existing pipeline of
other repurposed drugs that require less time and expense to start
clinical trials," said Don
Wingerter, Ampio's CEO. "As a result, we can have
multiple trials running concurrently without the need for excessive
capital or a drain on our personnel resources."
Ampio recently announced it will begin patient recruitment for
its trial of Optina™ for diabetic retinopathy and has started the
CRO selection process for its clinical trial programs. Ampio will
explore licensing opportunities for its sexual dysfunction drugs as
soon as the terms of the acquisition agreement are approved by DMI
shareholders.
About Ampio Pharmaceuticals
Ampio Pharmaceuticals, Inc. develops innovative proprietary
drugs for metabolic disease, eye disease, kidney disease,
inflammation and CNS disease. The product pipeline includes new
uses for previously approved drugs and new molecular entities
("NMEs"). By concentrating on development of new uses for
previously approved drugs, approval timelines, costs and risk of
clinical failure are reduced because these drugs have strong
potential to be safe and effective while their shorter development
times can significantly increase near-term value. A key strategy
includes actively exploring partnership, licensing and other
collaboration opportunities to maximize Ampio's product development
programs.
About DMI BioSciences, Inc.
DMI BioSciences, Inc. was founded by Dr. David Bar-Or in 1990 to
develop innovative diagnostic tests and drugs for the medical
device and biopharmaceutical industry. DMI is a predecessor
company to Ampio Pharmaceuticals.
Safe Harbor Statement
Certain of the above statements contained in this press release
are forward-looking statements that involve a number of risks and
uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those indicated in the forward-looking statements as a result of
various factors.
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Investor Contact: Redwood
Consultants, LLC Tel: +1 415-884-0348
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James V. Winkler, MD
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Director of Medical
Affairs
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Ampio Pharmaceuticals,
Inc.
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8400 E. Crescent Parkway, Suite
600
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Greenwood Village,
CO 80111 USA
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Tel: +1 303-418-1000;
Direct: +1 303-418-1007
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Fax: +1 303-418-1001
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jwinkler@ampiopharma.com
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SOURCE Ampio Pharmaceuticals, Inc.