Biovista Inc. Announces Positive Efficacy Results in a Pre-Clinical Trial of its BVA-101 Repositioned Drug for Multiple Sclerosis

April 2, 2009

CHARLOTTESVILLE, Virginia, April 2 /PRNewswire/ — Biovista Inc. today
announced that BVA-101, its drug targeting Multiple Sclerosis (MS), has shown
significant positive results in the MOG-induced Experimental Allergic
Encephalomyelitis (EAE) murine model of MS. BVA-101, an existing drug that
Biovista repositioned in MS and is aimed at neuroprotection, was shown to
have both efficacy in reducing symptoms and no toxic effects in this well
established model of MS.

“We are excited about these early results that confirm the predictive
capability of our repositioning platform technology and encourage us to
further develop this compound in a disease area where there is a significant
need for new therapies” said Aris Persidis, Ph.D., President of Biovista.
“What is also encouraging is that we reached this stage just 4 months after
deciding to work in MS. At the present time we are exploring all options
available to us, including the further co-development with a pharmaceutical
company and the licensing of the IP to a generics company” Dr. Persidis added.

About Biovista’s BVA-101 trial in the MS EAE-MOG model

MS is a chronic inflammatory disease of the CNS with unknown etiology. It
is the most frequent non-traumatic disabling neurologic disease among young
adults, with 12,000 new diagnoses per year in the US alone, and over 2.5
million patients worldwide. In the animal proof of concept trial, BVA-101 was
compared to dexamethasone, a potent anti-inflammatory and immunosuppressive
drug that is efficient in accelerating the recovery from MS relapses but too
toxic for chronic use. BVA-101 induced a statistically significant reduction
of EAE severity, the magnitude of which was statistically similar to that
caused by dexamethasone.

About Biovista’s repositioning pipeline and technology platform

Biovista applies high-throughput discovery efforts to finding solutions
for commercially relevant unmet medical needs. Biovista’s proprietary
repositioning technology allows the company’s experts to perform
mechanism-of-action based analyses and systematically assess clinical
outcomes in any therapeutic area of interest, at relatively low cost and very
short time spans. The company is presently using this platform to develop its
own pipeline of repositioned drugs in areas such as CNS, cardiovascular
disease, oncology and auto-immune diseases and is expecting to make further
announcements in Q3 ’09.

    For more information, please contact:
    Dr. Aris Persidis
    Biovista, Inc.

    For a non-confidential information pack on BVA-101 contact Biovista at

SOURCE Biovista Inc.

Source: newswire

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