Hemispherx Makes Equity Investment In Belgian Biotech Company

Hemispherx Biopharma, Inc. (Philadelphia, PA) has made a private equity investment in R.E.D. Laboratories, a biotechnology firm based in Belgium. Although Hemispherx and R.E.D. representatives declined to discuss the full details of the investment, they stated that the commitment would exceed 7 figures in the near term.

Dr. William A. Carter, chairman of Hemispherx, stated, "R.E.D. Laboratories has cutting-edge patented technology relevant to a number of major chronic viral diseases. Recently, it has successfully harnessed scientific knowledge on both sides of the Atlantic to develop incisive new diagnostic and therapeutic insights to Chronic Fatigue Syndrome (CFS) and certain allied diseases." Carter explained that Hemispherx is committed to building the pre-eminent franchise in this disease category by a combination of in-house research, acquisitions and strategic investments.

On Dec. 6, 1998, Hemispherx announced a plan to diversify and strengthen its hepatitis B and C treatment technologies by establishing an independent hepatitis treatment/diagnostic company. Dr. Carter stated that developing breadth and depth in new drug portfolios for both CFS/ME and the hepatitis disorders (HBV and HCV) would be the two major objectives within the 1999 strategic plan.

For more information: Hemispherx Biopharma, Inc., One Penn Center, 1617 JFK Boulevard, Philadelphia, PA 19103, USA. Telephone: 215-988-0080. Fax: 215-988-1739.