Company Provides Update on Business Activities
WINNIPEG, Manitoba -(November 5, 2004). Medicure
Inc. (TSX:MPH; Amex: MCU), a cardiovascular drug discovery and development
company, is pleased to announce the issuance of patent No. 6,780,997,
"Cardioprotective Phosphonates and Malonates", by the
US Patent and Trademark Office. This new patent covers composition
of matter claims for several of Medicure's novel anti-ischemic compounds
for the treatment of cardiovascular disease.
"This new patent once again demonstrates the strength of Medicure's
medicinal chemistry capabilities and further expands upon our library
of proprietary drug candidates," said Albert D. Friesen, PhD,
Medicure's President and CEO. "The issuance of the patent further
strengthens the underlying value within the Company as we've continued
to build a strong pipeline of drugs for unmet cardiovascular needs."
This patent further protects Medicure's intellectual property of
anti-ischemic drugs. This program is led by MC-5422, a novel compound
that has displayed potent capabilities of reducing damage from ischemic
reperfusion. Preliminary toxicology studies carried out on this
lead candidate clearly demonstrate its safety and supports its continued
study and development.
UPDATE ON BUSINESS ACTIVITIES
Commenting on the current state of the biotech sector and of Medicure's
business, Dr. Friesen stated: "At this point in time it appears
that the broader market is not recognizing the great value both
within the biotech sector, and specifically of Medicure. With two
drugs that address major unmet needs in the cardiovascular sector,
that have established Phase II efficacy and are now in advanced
Phase II clinical trials, investors who have been closely following
our development activities continue to exhibit their confidence
in Medicure and recognize that this is an excellent time to increase
their position. We at Medicure certainly feel this way as myself
and other members of the Company's management team have been increasing
our ownership position by acquiring Medicure shares over the past
several weeks, and it is my intent to continue acquiring shares
in the future."
MC-4232 addresses the growing diabetic hypertensive patient population.
Cardiovascular complications are the main cause of death in this
patient group. There is an urgent need to find therapy to better
control blood pressure and manage diabetes. MC-4232 is such a therapy,
providing blood pressure control and improvement in the management
of diabetes in a difficult to manage patient population. With MC-4232
Medicure seeks to offer improved control of both glucose and blood
pressure through a combination of MC-1 and an ACE inhibitor - a
drug class that alone represents a USD$3 billion US market.
MC-1 is being developed as a cardio-protectant, something not currently
provided by any drugs on the market. The MEND-1 Phase II study successfully
demonstrated MC-1's cardioprotective effect in patients undergoing
angioplasty. Based on this positive outcome, Medicure is carrying
out a Phase II/III study to demonstrate MC-1's cardioprotective
effect in patients undergoing coronary artery bypass graft (CABG)
surgery. The Phase II portion of the dose response study will enroll
up to 900 patients.
By protecting the heart from damage at the cellular level, MC-1
offers hope to fill an urgent medical need by improving outcomes
for more than 4 million Europeans and North Americans every year
- nearly 1 million of whom undergo CABG surgery.
The Company's financial position remains solid, providing sufficient
resources to complete the ongoing Phase II studies, both of which
continue to enroll patients at a good rate, and to advance the lead
candidates up to pivotal Phase III studies.
"The inherent value in our lead products, combined with other
advancements, such as our dual action antithrombotic, MC-45308,
are the core elements that will allow Medicure to establish itself
as a recognized player in the global cardiovascular pharmaceutical
market," Dr. Friesen added. "We are confident that we
will realize the rewards of our ongoing efforts as we progress our
pipeline of drugs toward commercialization."
About Medicure Inc.
Medicure Inc. is a cardiovascular drug discovery and development
Company focused on developing effective therapeutics for unmet needs
in the field of cardiovascular medicine, the largest pharmaceutical
sector with annual global sales of over US $70 billion. In its successful
Phase II clinical trial, MEND-1, the Company's lead drug, MC-1,
demonstrated cardioprotective effects and safety in high-risk patients
undergoing angioplasty. The results from this clinical trial showed
that MC-1 significantly reduces ischemic heart damage associated
with the angioplasty procedure. Proceeding from this positive outcome,
Medicure's ongoing Phase II/III MEND-CABG clinical trial is evaluating
the cardioprotective and neuroprotective effects of MC-1 in patients
undergoing high-risk Coronary Artery Bypass Graft (CABG) surgery.
The Company's second product candidate, MC-4232, is a unique combination
drug for the treatment of diabetic patients with hypertension. The
co-existing conditions of diabetes and hypertension present a major
increase in risk of cardiovascular complications, including coronary
artery disease, peripheral artery disease, retinopathy, nephropathy
and stroke. MC-4232 is a novel combination product that combines
MC-1's cardioprotective properties with an ACE Inhibitor, the most
common form of hypertensive therapy. In addition to cardioprotection,
this product has also demonstrated potential to provide further
blood pressure lowering effects and reduction in glycated hemoglobin
(HbA1c), the primary measure of blood glucose control. The Company
is currently enrolling patients in the Phase II MATCHED study (MC-1
and ACE Therapeutic Combination for Hypertensive Diabetics), evaluating
the effects of MC-1 alone and in combination with an ACE Inhibitor
in control of blood pressure, metabolism and other endpoints in
diabetic patients with hypertension.
Medicure also has a medicinal chemistry based Drug Discovery program
focused on discovery and advancement of novel small molecule, anti-ischemics
and anti-thrombotics towards human clinical studies.
This news release
contains forward-looking statements that involve risks, which may
cause actual results to differ materially from the statements made,
and accordingly may be deemed to be forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The forward-looking statements are
made as of the date hereof, and the Company disclaims any intention
and has no obligation or responsibility to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
For more information, please contact:
Derek Reimer
Chief Financial Officer
Don Bain
Director of Investor & Public Relations
Medicure Inc.
888-435-2220
204-488-9823 fax
info@medicure.com
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