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Advancis Pharmaceutical Changes its Name to
MiddleBrook Pharmaceuticals, Inc.
GERMANTOWN, Md.
June 28, 2007
Advancis Pharmaceutical Corporation (NASDAQ:
AVNC),
a pharmaceutical company focused on developing and commercializing
novel anti-infective products,
today announced that the Company has changed its name to MiddleBrook
Pharmaceuticals, Inc. The name change, effective immediately, was completed
pursuant to the Company’s jointly
submitted Permanent Injunction and Order with sanofi-aventis of
October 27, 2006, whereby the
Company agreed to cease using the Advancis name by June 30, 2007. In conjunction with the new name, the Company
will change its NASDAQ trading symbol to MBRK,
effective with the start of trading on June 29, 2007.
“
All elements of the Company’s business and future strategy
remain unchanged,” said Dr. Edward
Rudnic, MiddleBrook president and CEO. “As we move forward
under the new MiddleBrook name,
we expect to continue to execute upon our previously laid-out plan
of supporting our Amoxicillin
PULSYS regulatory filing currently under FDA review, marketing
our branded Keflex antibiotic
franchise, and positioning our other PULSYS product candidates
for further development.”
In addition, the Company is continuing its previously
announced process to explore strategic
alternatives and that process is ongoing.
ABOUT MIDDLEBROOK PHARMACEUTICALS:
MiddleBrook Pharmaceuticals, Inc. (NASDAQ: MBRK, formerly Advancis
Pharmaceutical
Corporation, NASDAQ: AVNC) is a pharmaceutical company focused
on the development and
commercialization of anti-infective drug products that fulfill
substantial unmet medical needs in the
treatment of infectious disease. The Company is developing a
portfolio of anti-infective drugs based
on its novel biological finding that bacteria exposed to antibiotics
in front-loaded staccato bursts, or“
pulses,” are killed more efficiently and effectively than those
under standard treatment regimens.
Based on this finding, MiddleBrook
has developed a proprietary, once-a-day pulsatile delivery
technology called PULSYSTM. By examining the resistance patterns
of bacteria and applying its
delivery technologies, MiddleBrook has the potential to redefine
infectious disease therapy and
significantly improve drug efficacy, shorten length of therapy,
and reduce drug resistance versus
currently available antibacterial products. For more on MiddleBrook,
please visit www.middlebrookpharma.com.
his announcement contains forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These
statements are based on MiddleBrook's current expectations
and assumptions. These statements are not
guarantees of future performance and are subject to a number
of risks and uncertainties that would cause
actual results to differ materially from those anticipated.
The words, "believe," "expect," "intend," "anticipate," and
variations of such words, and similar expressions identify
forward-looking statements, but their absence
does not mean that the statement is not forward-looking.
Statements in this announcement that are forwardlooking
include, but are not limited to, statements about the Company’s
future development plans, clinical trials,
potential commercial success, and any financial forecasts
included in this announcement.
The actual results realized by MiddleBrook could differ
materially from these forward-looking statements,
depending in particular upon the risks and uncertainties
described in the Company’s filings with the Securities
and Exchange Commission. These include, without limitation,
risks and uncertainties relating to the Company’s
financial results and the ability of the Company to (1)
raise additional capital and continue as a going concern,
(2) increase Keflex 750 sales, (3) obtain FDA approval
for its Amoxicillin PULSYS product candidate, (4)
successfully reduce costs, (5) maintain compliance with
its outstanding credit facility with Merrill Lynch Capital,
(6) reach profitability, (7) prove that the preliminary
findings for its product candidates are valid, (8) receive
required regulatory approvals, (9) successfully conduct
clinical trials in a timely manner, (10) establish its
competitive position for its products, (11) develop and
commercialize products that are superior to existing or
newly developed competitor products, (12) develop products
without any defects, (13) have sufficient capital
resources to fund its operations, (14) protect its intellectual
property rights and patents, (15) implement its sales
and marketing strategy, (16) successfully attract and retain
collaborative partners, (17) successfully
commercialize and gain market acceptance for its Keflex
products, (18) successfully obtain sufficient
manufactured quantities of its drug products at acceptable
rates, and (19) retain its senior management and
other personnel. Existing and prospective investors are
cautioned not to place undue reliance on these forwardlooking
statements, which speak only as of today's date. MiddleBrook
undertakes no obligation to update or
revise the information in this announcement, whether as
a result of new information, future events or
circumstances or otherwise.
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