COMMONWEALTH BIOTECHNOLOGIES, INC., PATENT DESIGNED TO REDUCE COMPLICATIONS OF CARDIOVASCULAR SURGERY (PR NEWS)

SOURCE: Commonwealth Biotechnologies, Inc.

Richmond, Va., March 23 (PR Newswire)- Commonwealth Biotechnologies Inc, (Nasdaq: CBTE) announced today the next stage of its development of a pharmaceutical compound that may one day make cardiovascular surgeries safer.

The U.S. Patent Office issued a Notice of Allowance for Patent #08/660,592 on March 3, 1998 to Commonwealth Biotechnologies Inc (CBI) for development of new heparin binding peptide compounds. The patent protects structures and numerous applications for use of these compounds.

Coinventors named on the patent are Robert B. Harris, Ph.D., President of CBI, and Michael Sobel, MD, Chief of Surgery, Syracuse Veterans Affairs Medical Center, and Professor of Vascular Surgery, Health Sciences Center, State University of New York/Syracuse.

During open heart surgery, the intense blood thinning effects of heparin must be reversed to restore normal blood clotting at the end of the procedure. Protamine, the only available antidote, causes frequent toxic side effects, including hypotension, pulmonary artery hypertension and myocardial depression, and in some cases death. Protamine is the only compound currently approved to reverse the blood-thinning effects of heparin in acute cardiovascular surgery. The lead compounds that CBI are developing would serve as a safer, more effective antidote for the anticoagulant effects of heparin.

"We have designed and synthesized very simple compounds which bind heparin with all the biological potency of protamine, but without its side effects" said Dr. Harris. "We are in the early stages of development and are looking for strategic partners to commercialize and manufacture these compounds."

"There is a serious need for a safer, less toxic and more selective heparin antagonist for cardiovascular surgery," stated Dr. Sobel. "We came to the current compounds by the process of rational drug design -- studying how heparin binds to proteins. Next we'll be confirming safety and efficacy as we also test newer generations of this novel family of compounds."

"The company does not plan to manufacture or market its developments," added Dr. Harris. "Our dual missions are to be the preferred service provider for investigators in life sciences research and to bring our intellectual properties to a state where they become attractive for commercialization by major pharmaceutical or biotechnology companies."

The worldwide market for all blood thinners or anticoagulants exceeds $ 2 billion.

CBI, which was founded in 1992, provides research and development services to more than 40 private, government, and academic customers in the global biotechnology industry.

CBI's revenues have grown from approximately $300,000 in 1993 to $1.761 million in 1997. The company became public in October, 1997 and has 1,620,514 shares outstanding.