BETHESDA, Md., June 27, 2012 (GLOBE NEWSWIRE) -- Spherix Incorporated (Nasdaq:SPEX) – an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies – today announced that its drug candidate SPX106T reduced very low-density lipoprotein complexes (VLDLs) by 36% (p=0.05) in the blood of apolipoprotein E-deficient mice consuming a diet containing SPX106T, fat and cholesterol, compared with those consuming one containing sucrose, fat and cholesterol. These results support the findings from previous studies where SPX106T significantly reduced both VLDLs and low-density lipoprotein complexes (LDLs) in low-density lipoprotein receptor-deficient mice consuming a high carbohydrate diet (see http://www.spherix.com/documents/pr060211--SPX106.pdf).
In states of energy surplus, excess carbohydrates are converted into cholesterol and triglycerides, and are subsequently packaged into VLDLs. Then, as the triglycerides are metabolized into free fatty acids, whether for storage or immediate energy use, the density of VLDLs increase, resulting in intermediate-density lipoprotein complexes and eventually cholesterol-rich LDLs.High levels of LDLs and serum cholesterol are known risk factors for atherosclerosis, and results indicate that SPX106T is effective at lowering these atherogenic lipoprotein complexes in mice. In contrast, other therapies for dyslipidemia, specifically omega-3-acid ethyl esters, may raise LDL levels while decreasing triglycerides.
Dr. Robert Lodder, President of Spherix, noted, "The fact that SPX106T lowers VLDLs and LDLs in addition to triglycerides in our preclinical studies suggests that this therapy may offer advantages over some commonly used drugs for the treatment of dyslipidemia."
Spherix also recently submitted its Briefing Book and held a pre-IND meeting with the FDA. "Although we do not yet fully understand the effects of SPX106T on lipid metabolism in humans, this is a very exciting time for Spherix as we are entering the next stage in our drug development pathway" stated Dr. Claire Kruger, CEO of Spherix. "We are completing our IND package and plan to be in clinical testing with SPX106T in the next few months."
Spherix Incorporated was launched in 1967 as a scientific research company under the name Biospherics Research. The Company now leverages its scientific and technical expertise and experience through its two subsidiaries, Biospherics Incorporated and Spherix Consulting, Inc. Biospherics is dedicated to developing and licensing/marketing proprietary therapeutic products for treatment of diabetes, metabolic syndrome and atherosclerosis. Biospherics is exploring new drugs and combinations for treatment of high triglycerides, a risk factor for atherosclerosis, myocardial infarction and stroke. Spherix's Consulting subsidiary provides scientific and strategic support for suppliers, manufacturers, distributors and retailers of conventional foods, biotechnology-derived foods, medical foods, infant formulas, food ingredients, dietary supplements, food contact substances, pharmaceuticals, medical devices, consumer products and industrial chemicals and pesticides. For more information, please visit www.spherix.com.
This release contains forward-looking statements which are made pursuant to provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that such statements in this release, including statements relating to planned clinical study design, regulatory and business strategies, plans and objectives of management and growth opportunities for existing or proposed products, constitute forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. The risks and uncertainties include, without limitation, risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured, we may lack financial resources to complete development of our products, the FDA may interpret the results of studies differently than us, competing products may be more successful, demand for new pharmaceutical products may decrease, the biopharmaceutical industry may experience negative market trends, our continuing efforts to develop products may be unsuccessful, our common stock could be delisted from the NASDAQ Capital Market, and other risks and challenges detailed in our filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.
Investor Relations Phone: (301) 897-2564 Email:
Bethesda, Maryland, UNITED STATES
Investor Relations Phone: (301) 897-2564 Email:
Day's Range: 1.74-2.11
Previous Close: 2.05
Market Cap: 14.12M
Day's Volume: 830,264
Spherix Incorporated Logo