DOVER, DE -- (MARKET WIRE) -- 11/23/09 -- As part of its drug pipeline Ohr Pharmaceutical (OTCBB: OHRP) is developing a wet AMD (Macular Degeneration) therapy, based on technology acquired from Genaera Liquidating Trust. This novel therapeutic agent (EVIZON(TM)) has demonstrated the improvement or stabilization in vision in more than 100 subjects with wet AMD. Patients (wet AMD subjects) treated with at least 40 mg/m2 of EVIZON in phase 1 and 2 studies demonstrated early signs of a biological effect: 18% had three lines or greater improvement in visual acuity 4 months after they had completed therapy and another 72% had stable vision. Throughout its clinical development, the drug was well tolerated, with no drug-related serious adverse events occurring in patients involved in this trial.
EVIZON(TM) (Squalamine for wet AMD) is a systemic anti-angiogenic therapy with a novel mechanism of action which avoids the cardiovascular and ophthalmic side effects associated with intraocular injections of anti-VEGF antibodies. As evidence of this advantage, there were no clinically significant increases in systolic or diastolic blood pressure in clinical studies of 124 wet AMD subjects receiving EVIZON in Phase 2 clinical trials.
Wet AMD is the leading cause of legal blindness among adults age 50 or older in the Western world. Age-related macular degeneration is a progressive disease which is characterized the early stage "dry" form and the more severe "wet" form. Wet AMD is caused by the growth of abnormal blood vessels, or choroidal neovascularization, under the central part of the retina, the macula. Although the wet form of AMD accounts for only 10% to 15% of all AMD, it is responsible for 90% of severe vision loss associated with AMD. Approximately 500,000 new cases of wet AMD are diagnosed annually worldwide. In North America alone, approximately 200,000 new cases of wet AMD are diagnosed each year.
Recognizing the significant therapeutic potential of EVIZON(TM), Ohr Pharmaceutical is developing a promising novel formulation to enhance its bioavailability while maintaining its excellent safety profile.
About Ohr Pharmaceutical, Inc.
Ohr Pharmaceutical, Inc. (www.ohrpharmaceutical.com) (OTCBB: OHRP) is a biotechnology company dedicated to the development of first in class drugs for underserved therapeutic needs. Ohr is focused on the development of two drugs, OHR/AVR118 for the treatment of Cachexia and EVIZON for the treatment of wet-AMD.
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This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are made only as the date thereof, and Ohr undertakes no obligation to update or revise the forward looking statement whether as a result of new information, future events or otherwise. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments, the financial resources available to us, and general economic conditions. For example, there can be no assurance that Ohr will be able to sustain operations for expected periods, or that we will be able to achieve or sustain targeted levels of expense reductions. Ohr's most recent Annual Report and subsequent Quarterly Reports discuss some of the important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements for any reason.
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