Mimetogen Pharmaceuticals Announces Initiation of Phase II Clinical Trial of Novel NGF Mimetic in Patients with Dry Eye Syndrome

Montreal, QC – Mimetogen Pharmaceuticals Inc., a clinical-stage biotechnology company focused on developing novel small molecule compounds that mimic the effects of neurotrophins, today announced that it has initiated the first human clinical trial evaluating MIM-D3, a mimetic of nerve growth factor (NGF), in a Phase II clinical trial in patients with moderate to severe dry eye disease.  MIM-D3 is a small cyclic peptidomimetic of NGF, a naturally occurring protein in the eye that is responsible for the maintenance of corneal nerves and epithelium, mucin and tear production.

"This is a key development milestone for Mimetogen, as this trial represents the first use of small molecule mimetics of neurotrophins to treat an ocular disease.  Encouraging data in animal models of dry eye suggests that the use of neurotrophin mimetics to treat dry eye and other degenerative ocular indications such as glaucoma is an important new approach to treat ocular diseases for which there are currently very limited treatment options, said Garth Cumberlidge, Ph.D., Chief Executive Officer of Mimetogen.  "We are excited to have initiated this study, and anticipate receiving data in mid-2011.”

This 150 patient randomized, double-masked, multi-center, placebo-controlled study is designed to evaluate the safety, tolerability and efficacy of MIM-D3 in improving the signs and symptoms of dry eye.

About Dry Eye Disease
Dry eye disease is one of the most common problems treated by ophthalmologists; an estimated 25-30 million Americans suffer from dry eye and the worldwide prevalence closely parallels that of the United States.  Dry eye is a chronic multifactorial disease of the tears and ocular surface that results in symptoms of discomfort, visual disturbance and tear film instability with potential damage to the ocular surface.  

About Mimetogen Pharmaceuticals
Mimetogen Pharmaceuticals Inc. began operations in 2006, developing the use of peptidomimetics as novel approaches to treat diseases with high unmet medical needs. The underlying technology has been developed at McGill University and the Lady Davis Institute for Medical Research in Montreal.  The Company is currently developing novel therapeutic approaches for ophthalmic indications including dry eye disease, glaucoma and other degenerative diseases of the retina.  Mimetogen also possesses a pipeline of lead compounds for non-ophthalmic indications (such as neurodegenerative disease and pain).  Please visit the corporate website at www.mimetogen.com.