Soricimed Biopharma Inc. Announces First Patient Treated in Phase I Clinical Trial of New Cancer Drug, SOR-C13

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2012) - Soricimed Biopharma Inc., a private clinical stage company developing novel cancer therapeutics and diagnostics, is pleased to announce that the first patient has begun treatment with its anti-cancer agent SOR-C13 in its Phase I clinical trial at the Juravinski Cancer Centre in Hamilton, Ontario.

Soricimed's Phase I trial is a multicenter, open-label, dose escalation study that will take place at cancer centres in both Canada and the United States. The trial is designed to assess safety and tolerability in patients with advanced cancer tumors, with a weighting on ovarian cancers. The trial will also assess pharmacokinetics, biomarkers and initial evidence for efficacy.

SOR-C13 is a targeted peptide derived from the venom of the northern short-tailed shrew. It works by inhibiting a non-voltage gated calcium channel found in epithelial cancers such as ovarian, breast, prostate and others. Pre-clinical studies have shown that SOR-C13 induces apoptosis (cell death), inhibits cell proliferation and reduces tumor volume while minimizing side effects associated with typical chemotherapy

"Unlike chemotherapy, Soricimed's cancer treatment is highly targeted - affecting only cancer cells," said Jack Stewart, Chairman and Chief Scientific Officer of Soricimed Biopharma. "Healthy cells are not affected. It's also a biologic, meaning it's derived from a naturally occurring peptide that when broken down produces amino acids that can be reused by the body. As a result, and this is key, there have been virtually no side effects demonstrated in our pre-clinical studies."

The Phase I trials will run from now to February 2013, with interim results expected later this year. Based on successful results, further clinical trials will follow. Soricimed is hopeful that SOR-C13 could get to market in the next three to five years.

ABOUT SORICIMED BIOPHARMA

Soricimed Biopharma Inc., a private Canadian clinical stage company developing novel cancer therapeutics and diagnostics, was created in 2005 by Professor Jack Stewart and Paul Gunn following the discovery and development of a proprietary peptide, soricidin. Soricidin is the basis for Soricimed Biopharma Inc.'s targeted cancer management program focused on cancer therapeutics and diagnostics. Using focused innovative strategies in collaboration with major world-class cancer research institutions, Soricimed's drugs have demonstrated a capability to reduce cancer cell viability, induce apoptosis and to reduce human tumour volume while minimizing side-effects in various classic animal and in vitro tumour models. Privately held, Soricimed is funded through private investors and various programs from the Government of Canada. For more information please visit, www.soricimed.com.