Koronis Appoints Rondaxe To Secure Commercialization Partner For KP-1461, Possible Cure For HIV

Syracuse, NY. (April 28, 2010) - Rondaxe Enterprises, LLC, announced today that it has entered into an agreement with Koronis Pharmaceuticals to secure a commercialization partner to advance an HIV drug known as KP-1461. KP-1461 is currently in phase II clinical trials and is demonstrating remarkable potential to alter the treatment paradigm for HIV.

"If approved, KP-1461 could significantly advance the treatment of HIV over currently available agents, and lead to a cure, rather than today's chronic treatment of the disease," said Rondaxe’s James Bergey, Ph.D., who is leading the project.

"We are excited to be working with Rondaxe as we believe their vast network and extensive industry knowledge will help us to identify a sophisticated commercial partner to complete late-stage development and commercialize the product globally," said Donald Elmer, Managing General Partner of Pacific Horizon Ventures, and CEO of Koronis.

"Rondaxe is very pleased to be representing Koronis in this critical stage of the drug development process. Our business has focused on enabling emerging pharmaceutical companies to advance therapies with significant potential to enhance human life. KP-1461 is a product that has the potential to dramatically impact the lives of HIV infected patients," said Jeffrey Evans, Ph.D., Managing Director of Rondaxe.

Today, ten to fifteen percent of people newly infected with HIV have strains of the HIV virus that are resistant to all existing drugs. A decade ago this statistic was closer to one to two percent. "Resistance to HIV is clearly on the march and a new therapeutic strategy is needed to combat it," said Bergey.

Meeting this challenge is Koronis Pharmaceuticals, a biotechnology company that is pioneering the development of a new class of antiviral therapeutics based on a unique mechanism – Viral Decay Acceleration™ (VDA).

Unlike other therapeutics that are designed to inhibit a specific viral protein or enzyme, drugs based on VDA are designed to selectively disrupt the HIV genome by further increasing its naturally high rate of mutation to lethal levels.

Given the limited number of truly novel agents in development to address tomorrow's HIV needs, VDA offers a truly new approach that can work alone or in combination with standard agents, leading to a cure for HIV.

There is a growing need for new antiviral therapeutics. The number of persons in the U.S. living with HIV/AIDS is increasing, and although there are more than 20 approved drugs to treat HIV infection, viral resistance to all of them ultimately leads to treatment failure.

Additionally, in the U.S., an estimated four million people are infected with hepatitis C and there are only a handful of approved drugs available. The VDA mechanism of action could be applied to develop new therapies for this and related viral diseases.

About Viral Decay Acceleration™

VDA is a novel therapeutic mechanism with application against HIV and other viral infections. VDA increases the virus' naturally high mutation rate, causing an accumulation of mutations within the viral genome. This leads to impaired viral function and collapse of the viral population. Unlike conventional antiretroviral agents, KP-1461's action does not directly inhibit viral enzymes, a feature which may significantly limit the virus' ability to develop resistance against the drug.

Koronis Pharmaceutical, Inc.

Koronis Pharmaceuticals, Inc., located in Redmond, WA, is a privately held biotechnology company developing antiviral therapeutics based on a novel mechanism, Viral Decay Acceleration™ (VDA). The Company also has products in development for the treatment of hepatitis C and RSV. For more information, please visit www.koronispharma.com.

Rondaxe Enterprises, LLC.

Rondaxe Enterprises, LLC, located in Syracuse, N.Y., is a unique company providing a suite of services that combines expert drug development consulting, in-depth project management leadership, software applications and virtual business development designed specifically for emerging pharmaceutical and biotech companies. For more information, please visit www.rondaxe.com.

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Media Contact:
Jeffrey Evans, Ph.D.
Rondaxe Enterprises, LLC
315-469-2800
jevans@rondaxe.com