Amorfix Successfully Completes ALS Drug Discovery Program
 

Amorfix Successfully Completes ALS Drug Discovery Program
<<
- Amorfix Also Achieves Third and Final Milestone Under Biogen Idec
Agreement -

TSX: AMF
>>

TORONTO, Nov. 26 /CNW/ - Amorfix Life Sciences, a company focused on
treatments and diagnostics for brain wasting diseases, announced today that it
has achieved the third and final milestone under the 2006 research, investment
and option agreement with Biogen Idec (Nasdaq: BIIB) to discover novel
treatments for amyotrophic lateral sclerosis (ALS - Lou Gehrig's disease).
"The successful completion of the research alliance with Biogen Idec
validates the company's approach to develop treatments for misfolded protein
diseases," said Dr. George Adams, Chief Executive Officer of Amorfix. "We are
looking forward to passing the baton to Biogen, who have the resources to
quickly progress to the clinical evaluation of our ALS therapies."
Biogen Idec has an option to license the Amorfix technology for ALS under
already defined terms and would be responsible for completing preclinical and
clinical development, regulatory approvals, manufacturing and
commercialization. If the option is exercised, Amorfix will receive an upfront
cash payment and potential milestone payments in excess of US$25 million under
the license agreement. Amorfix will also receive royalties on commercial
product sales. Biogen Idec must make one final small investment in Amorfix by
December 10, 2008 to maintain the option to license the therapies for use in
ALS, which must be exercised by February 10, 2009 or the rights expire.
Amorfix achieved the first milestone in July 2007 with the creation of
Disease Specific Epitope (DSE(TM)) monoclonal antibodies for misfolded
superoxide dismutase-1 (SOD1); and the second milestone in October 2008 with
the demonstration that DSE(TM) antibody treatments significantly improved
survival in an animal model of ALS. The third and final milestone was achieved
by submitting to Biogen Idec a comprehensive final report on all the research
performed during the program.

About Amorfix

Amorfix Life Sciences Ltd. (TSX: AMF) is a theranostics company
developing therapeutic products and diagnostic devices targeting brain-wasting
diseases including ALS, Alzheimer's Disease, Parkinson's Disease and variant
Creutzfeldt-Jakob Disease (vCJD). Amorfix's proprietary Epitope Protectio
(EP(TM)) technology enables it to specifically identify very low levels of
aggregated misfolded proteins (AMP) in a sample of normal protein. Aggregated
misfolded proteins are a common element of many brain wasting diseases and the
ability to identify AMPs and understand their structure and mechanism of
folding are the first steps to developing new treatments for these devastating
diseases. Amorfix's lead programs are a diagnostic blood screening test for
vCJD and a therapy for ALS.

This information release may contain certain forward-looking information.
Such information involves known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be
materially different from those implied by statements herein, and therefore
these statements should not be read as guarantees of future performance or
results. All forward-looking statements are based on the Company's current
beliefs as well as assumptions made by and information currently available to
it as well as other factors. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks and
uncertainties identified by the Company in its public securities filings,
actual events may differ materially from current expectations. The Company
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

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For further information: Dr. George Adams, President & Chief Executive
Officer, Amorfix Life Sciences Ltd., Tel: (416) 847-6959, Fax: (416) 847-6899,
george.adams@amorfix.com; James Parsons, Chief Financial Officer, Amorfix Life
Sciences Ltd., Tel: (416) 847-6929, Fax: (416) 847-6899,
james.parsons@amorfix.com