NEW YORK, March 16, 2004 (PRIMEZONE) -- Amazon Biotech (OTCBB:AMZB) today announced the appointment of Philip Drachman as Company President. Philip Drachman has worked in research and development and in the management of several companies in the medical and healthcare sector including Exxon Mobil Corporation (NYSE:XOM), BIOMEDICOM (www.biomedicom.com), and Navitek Ltd.
Amazon Biotech was established in 2003 to focus on the research and development of novel all-natural drugs. Amazon Biotech's goal is to be a world leader and contributor in the treatment of HIV naturally through the use of Immune-based therapies (IBT). An Immune-Based Therapy is defined as any treatment geared toward reestablishing proper functioning of the immune system or directly helping the immune system to fight a virus, i.e. HIV.
The theory behind IBT's is based upon new research and a new understanding of HIV disease. Cells infected by HIV produce billions of new viruses every six hours, and the immune system kills off those new viruses and clears out hundreds of millions of infected cells at almost the same rate. Over many years of fighting this daily battle the immune system slowly wears out and is eventually crippled by HIV. However, it is clear that the body's natural defenses are better than any antiviral that has ever been developed. IBT's give these powerful natural defenses an extra push to help the immune system fight the war against HIV.
When the immune system gets damaged it goes into a state of chaos. It produces too much of certain types of biochemicals, and not enough of others, which are needed to coordinate the body's defenses. As a result, Immune-Based Therapies are also designed to help the immune system to coordinate effective responses to attacks by HIV or any other agent, i.e. Karposi's Sarcoma, threatening the health of people living with the disease.
The FDA granted IND status for the company's HIV/AIDS drug AMZ 0026 and Phase I/II trials are planned for later this year. The company is in the process of raising capital to fund the planned trials of AMZ 0026.
It is estimated that the Global HIV / AIDS market value is approximately $5.1 Billion (Wall Street Journal, September 22, 2003). Datamonitor estimates that the overall HIV treatment market will increase 13% in revenue this year, with a 7% year-to-year growth rate projected through 2010.
In 2002, global estimates of HIV/AIDS cases were 42 million (UNAIDS 2002). Datamonitor believes that approximately 50% are undiagnosed and untreated which represents a significant commercial opportunity for the pharma industry.
About Amazon Biotech
Amazon Biotech, Corp. is a newly established pharmaceutical company currently producing AMZ 0026 and a revolutionary, topical natural hair-growth product. The company intends to initiate Phase I/II clinical studies of AMZ 0026 in the near future, with an eventual goal of a joint venture with a major pharmaceutical company in Phase III trials. During 2004, Amazon Biotech plans to conduct a small double blind study on its hair growth product. The company also plans to market the hair growth product through a Fortune 1000 company. Additional information on Amazon Biotech may be found at www.amazonbiotech.com
FORWARD LOOKING STATEMENTS:
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 -- This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding any potential sales of products as well as statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Amazon Biotech, to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Amazon Biotech's subsequent reports filed with the Securities and Exchange Commission under the Exchange Act. This press release speaks as of the date first set forth above and Amazon Biotech assumes no responsibility to update the information included herein for events occurring after the date hereof.