News Releases

May 18, 2005

Sumitomo Licenses Breakthrough Antibiotic SMP-601 to Protez

Sumitomo Pharmaceuticals, Co., Ltd. (hereafter referred to as "Sumitomo") announces the May 10 license agreement with Protez Pharmaceuticals Inc. (Malvern, Pennsylvania, USA, hereafter referred to as "Protez") for SMP-601. The agreement gives Protez exclusive rights to develop and sell SMP-601 in North America and Europe. Completion of the agreement was aided by BTG, a major shareholder and co-founder of Protez.

Protez discovers and develops new antibiotics for difficult-to-treat infections. The company focuses on highly differentiated antibiotics that address the problems of increasing bacterial resistance as well as chronic and recurrent infections.

Sumitomo has accumulated manufacturing technology and information on the structure-activity relationship for carbapenems through its research and development work on Meropenem. Based on this background, Sumitomo discovered SMP-601, a drug candidate with excellent antibacterial activity not only against Gram-positive bacteria, including all of the multidrug-resistant bacteria (MRSA, MRSE and VRE), but also against a range of Gram-negative bacteria frequently requiring treatment in hospitals. Pharmacokinetic studies have demonstrated a favorable pharmacokinetic profile for SMP-601 against existing carbapenems.

SMP-601 will make a key contribution to the pipeline at Protez, which plans to complete pre-clinical development and start clinical trials in both the US and Europe. The two companies will collaborate to expedite approvals for launch in the US, Europe and Japan.

About Protez Pharmaceuticals Inc.
President and CEO Chris Cashman
Head Office Malvern, PA, USA
Date of Establishment 2003