Tripep Year-end report 2003

HUDDINGE, Sweden, Jan. 30, 2004 (PRIMEZONE) -- Tripep AB (publ):

- Loss after tax for the full year 2003: SEK -13.0 million (SEK - 42.5 m). Research and development costs for the full year 2003: SEK 12.4 million (SEK 13.8 m).

The company has yet to generate any operating income, and accordingly has no net sales.

EPS for the full year 2003: SEK -1.00 (-3.07).

- Research associated with GPG's metabolite (previous working title: MetaboliteX = 'Metabolite Unknown') has resulted in the discovery of the antiviral substance alfaHGA, and a patent application has been filed for its structure. A chemical synthesis method has been devised.

- Clinical trials of alfaHGA on humans are planned for the first half-year 2004.

- The first presentation of alfaHGA will be at the 5th Antiviral Drug Discovery & Development Summit on 29 - 30 March 2004 at Cherry Hill, NJ, U.S.

- Tripep incorporated the biotech enterprise VLP Biotech Inc. in San Diego alongside US researchers; Tripep's holding is 30%. The company's first intended product is a universal influenza vaccine.

- The Swedish Industrial Development Fund has permitted remission of SEK 10 m of its SEK 20 m conditional loan for the development of GPG. This implies that the company is now free of debt.

- Tripep's Board of Directors is currently examining the benefits and consequences of parallel quotation on the London-based AIM (Alternative Investment Market).

- After the end of the period, Tripep secured a US patent for a new application of its antiviral substance ribavirin.


For more information, please contact:
Johan Ihre, CEO
Tel: +46 (0)8 449 8480
mobile: +46 (0)70 733 4425
e-mail: johan.ihre@tripep.se or

Anders Vahlne, Vice President, Research
Tel: +46 (0)8 585 81313
mobile: +46 (0)70 928 0528 
e-mail: anders.vahlne@labmed.ki.se

Tripep is a biotech research company that develops and commercialises

- research and development of alfaHGA, a potential HIV-inhibiting drug,

- preclinical research focusing on the development of therapeutic and prophylactic vaccines against HIV and hepatitis C, and the RAS(R) technology platform.

- producing vaccines against influenza, allergies and Alzheimer's Disease through associated company VLP Biotech Inc.

More details on Tripep's technologies are available at its Website: www.tripep.se

Tripep AB (publ.) Halsovagen 7 S-141 57 Huddinge Sweden Tel: +46 (0)8 449 8480 Corp. ID. No.: 556541-1898

Tripep Year-end report 2003

Tags