Ore Holdings Inc. (fka ORXE)

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Ore Pharmaceuticals Announces Upcoming Publication of Research Study on ORE1001
Press Release
Source: Ore Pharmaceuticals Inc.
On Wednesday September 9, 2009, 8:00 am EDT

Companies:Ore Pharmaceuticals Inc.
GAITHERSBURG, Md.--(BUSINESS WIRE)--Ore Pharmaceuticals Inc. (Nasdaq:ORXE - News), announced today the publication of an article in the online version of the journal Inflammation Research titled, “Effects of the ACE2 inhibitor GL1001 on acute dextran sodium sulfate-induced colitis in mice.”

This article discussed the efficacy of Ore’s lead drug candidate, ORE1001 (formerly GL1001), in the dextran sodium sulfate animal screening model for inflammatory bowel disease drugs. The results show that treatment with ORE1001 displayed efficacy on par with that of the oral standard, sulphasalazine. ORE1001 improved common measures of the extent of damage, such as histopathology, in a dose-related and statistically significant manner. Moreover, ORE1001 markedly decreased tissue myeloperoxidase activity, a well-known marker of inflammation. The findings, when considered along with other studies of ORE1001, support further development of the compound in gastrointestinal inflammatory conditions. ORE1001 has progressed through multiple dose clinical phase I testing in the U.S. and is on track to commence a Phase Ib/IIa trial in ulcerative colitis, one of the two main disorders that comprise inflammatory bowel disease (IBD), in the second half of 2009.

It is estimated that up to one million Americans are affected by IBD. With typical onset in childhood or early adulthood, these disorders cause many decades of pain and suffering and result in significant lost productivity, in addition to the direct costs of medical and surgical care. The burden on the U.S. healthcare system alone is significant; IBD is associated with health care costs estimated at more than $1.7 billion. Ore believes that ORE1001, if approved, could represent a significant enhancement to current therapies for treating this debilitating disease.

The print article is expected to be published in an upcoming issue of Inflammation Research. The full text article is currently available online at: http://www.springer.com/birkhauser/biosciences/journal/11.

Ore Pharmaceuticals Overview

Ore Pharmaceuticals Inc. (the “Company”) is a pharmaceutical asset management company. The Company acquires interests in pharmaceutical assets whose value, it believes, it can significantly enhance through targeted development, with the goal of then monetizing these assets through a sale or out-licensing. Initially, the Company will focus on developing and monetizing its current portfolio, which includes four clinical-stage compounds in-licensed from major pharmaceutical companies. The Company’s four compounds in its development portfolio are: ORE1001, its lead compound, ORE10002, ORE5002 (tiapamil) and ORE5007 (romazarit).