AMP.L Regulatory News (AMP)

30 Aug 2005 07:00

Amphion Innovations PLC30 August 2005 Amphion Innovations Invests Additional $1m in Leading Nutrigenomics Company, WellGen, Inc. London, England, 30 August 2005: Amphion Innovations plc, the developer of lifesciences businesses, announces that it has invested a further $1 million inWellGen, Inc. taking Amphion's stake to approximately 19% on a fully dilutedbasis. WellGen is the first biotechnology company using nutrigenomics todiscover and develop proprietary products that treat and prevent disease.WellGen uses its patented screening technology to screen naturally occurringcompounds, that are generally regarded as safe, against a panel of genesassociated with wellness and disease. The additional investment will support WellGen's growth plans for itsnutrigenomics product pipeline. WellGen's key research programmes includeobesity, arthritis and other diseases associated with inflammation. WellGen hastwo bioactives in clinical trials - WG0401 and WG0301 - and six bioactives inpre-clinical development. WellGen's lead product is a safe, natural anti-inflammatory compound, WG0401,derived from black tea that is presently undergoing human clinical trials in theUS. This product is targeted to address the gap caused by the removal from themarket of prescription drug products such as Vioxx. WellGen has also developedpre-clinical compounds in the areas of exercise recovery and exerciseperformance. David A. Evans, Chief Executive Officer of WellGen said: "We have workedclosely with Amphion over the past three years to build WellGen into the world'sleading nutrigenomics companies." Richard Morgan, CEO of Amphion Innovations plc and a Board member of WellGen,said: "WellGen enjoys a leadership position in the field of nutrigenomics and webelieve there is a substantial opportunity to develop safe bioactives that canbe used to treat chronic conditions, such as those formerly addressed by cox-2inhibitors like Vioxx, which command multi-billion dollar markets. We aredelighted to own a significant share of such an exciting business. Withpartners like Rutgers University and Danisco, and a strong portfolio ofintellectual property, WellGen is well placed to succeed in the rapidly growingnutrigenomics market." Enquiries: Amphion Innovations PLC +44 (0)20 7016 8821Richard C. E. Morgan, CEORobert J. Bertoldi, President & Chief Financial Officer +1 212 210 6201 Financial Dynamics +44 (0)20 7831 3113Ben Atwell / John Gilbert About Amphion Amphion Innovations plc, recently listed on the AIM Exchange in London under thesymbol AMP. Amphion's business is the formation, financing, management anddevelopment of life science and technology companies, working in partnershipwith corporations, governments, universities and entrepreneurs seeking tocommercialise their intellectual property. www.amphionplc.com About WellGen WellGen is the first biotechnology company using nutrigenomics to discover anddevelop proprietary products that treat and prevent disease. Please visitwww.WellGen.com for more information about the company. The WellGen discovery platform is based on nutrigenomics. Nutrigenomics focuseson the role of nutrients and dietary ingredients on gene expression in the humanbody. Some chemicals found in commonly consumed foods are dietary signals thatinfluence gene and protein expression and, subsequently, metabolite production.Nutrigenomics seeks to examine and exploit the way nutrition influences humandisease. It is possible to identify foods and food ingredients that alterexpression of genes associated with onset or proliferation of various diseasesand conditions. WellGen believes that alteration of expression ofdisease-causing genes will aid in the prevention or treatment of human diseases. WellGen's core intellectual property, licensed from Rutgers, was developed byRutgers' nationally recognized department of food science, in conjunction withthe university's department of chemistry and chemical biology and Ernest MarioSchool of Pharmacy of Rutgers, and the University of Medicine and Dentistry ofNew Jersey. The patented gene screening technology was the foundation uponwhich WellGen was started. Along with the screening technology, WellGen hasexclusive access to bioactive compounds found to positively regulate expressionof specific genes associated with disease. WellGen currently funds asignificant portion of its research at Rutgers for discovery and pre-clinicalvalidation of new bioactive compounds and technology. An important part ofWellGen's scientific program is extensive safety and efficacy tests on itsproducts, culminating in human clinical trials. For more information on WellGen contact David Evans on +1 732 247 8750 This information is provided by RNS The company news service from the London Stock Exchange