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BELMAC ISSUES UPDATE ON RESEARCH AND DEVELOPMENT ACTIVITIES

 BELMAC ISSUES UPDATE ON RESEARCH AND DEVELOPMENT ACTIVITIES
 TAMPA, Fla., Sept. 10 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) today issued an annual update of its research and development activities.
 The company is currently developing a portfolio of five pharmaceutical products, with a primary focus in anti-infectives. These five products are


protected by a total of 64 patents or patent applications, eight of them in the United States.
 The company plans to file five new INDs with the United States FDA during its fiscal year ending June 30, 1993. Belmac currently has one IND on file in the United States for its new macrolide antibiotic, Biolid.
 Biolid, the first product out of the company's research and development group, was recently launched in France, the second largest market in the world for this class of antibiotic.
 The following is a summary of the status of development for each of the company's products. Highlights include the completion of five clinical studies on Biolid, the development of new formulations of Biolid, and the development of a new antiparasitic drug, nitazoxanide.
 BIOLID
 Biolid is a new form of erythromycin with improved blood absorption and a lower incidence of gastro-intestinal side effects. It was launched in the French market, the second largest market in the world for macrolides, in March 1992. Regulatory approvals are pending in Spain and Mexico, and an IND has been filed in the United States. Additional registrations are expected to be filed in Europe in late 1992 using the multi-state European process.
 Three major double blind clinical studies have been completed in 1992 in a total of approximately 375 patients in France and Holland. Two studies used roxithromycin (Rulid, Hoescht-Roussel) as a reference drug, and Biolid showed equal efficacy and tolerance in both lower and upper respiratory tract infections. In the third study, Biolid was compared to a third generation oral cephalosporin, cefpodoxime (Cefodox, Hoescht-Roussel), in upper respiratory tract infections, and again, equal efficacy and tolerance were observed. A fourth study conducted in Germany using roxithromycin as a reference drug has also been completed, and results are pending final analysis. One clinical pharmacology study also conducted in France in 12 volunteers with blood samples assayed in the United States has further supported the superior blood absorption of Biolid.
 The company plans to submit INDs for two new formulations of Biolid in the next several months. A ready-to-use pediatric suspension and a sustained release capsule expected to provide constant antibiotic blood levels over more than 18 hours are expected to enter clinical testing in the United States and Europe during 1993. The sustained release capsule will be tested as a once-a-day dosage form.
 Belmac was granted a United States patent for Biolid in June 1992. A second United States patent application is pending along with an international patent application covering 10 additional countries.
 AZAQUINONE
 Azaquinone is a broad spectrum pre-clinical antimycobacterial compound showing efficacy in pre-clinical studies against a wide variety of drug resistant and sensitive strains of typical (tuberculosis) and atypical (MAC) Mycobacterium species. Azaquinone is also effective against Mycobacterium leprae, the causative agent of leprosy. Based on pre-clinical testing the product appears to be nontoxic, relative to other chemicals in its class.
 Belmac expects to file an IND with the Food and Drug Administration in early 1993. The company expects that indications for azaquinone will not be limited to the treatment of drug resistant tuberculosis or Mycobacterium avium complex infections but will include the prevention of these diseases in high-risk populations such as HIV positive persons, cancer patients, transplant recipients, nursing home residents and healthcare workers.
 Azaquinone was patented in the United States in 1990. Patent applications for new azaquinone derivatives invented by Belmac are being filed in the United States and internationally.
 NITAZOXANIDE
 Nitazoxanide, an antiparisitic compound, has previously undergone phase 2 clinical testing in a total of 40 patients in Europe, the results of which have been published in a peer reviewed medical journal. Nitazoxanide has shown effectiveness against protozoa and helminths.
 Belmac plans to file an IND for nitazoxanide with the FDA in early 1993. In addition to its classical indications as an antiprotozoal or anthelmintic, its activity against Cryptosporidium parvum, the causative agent of chronic diarrhea in immunocompromised patients, will be investigated in 1993. There is currently no approved medical treatment for this condition.
 Patents were granted in 1976 and 1982 in the United States as well as internationally.
 PHENANTRAMINE
 Phenantramine is an antimalarial which has shown effectiveness in pre-clinical studies against sensitive and resistant Plasmodium falciparum. It will be tested for both the treatment and the prophylaxis of falciparum malaria among travelers or migrant workers staying in malarious areas. Pre-clinical testing is in late stages, and the company plans to file an IND before the end of fiscal 1993.
 A United States patent application was filed in May 1992, and international filings are planned before May 1993.
 ALPHANON
 Alphanon, the company's original product, was designed for the systemic treatment of hemorrhoids. The drug was originally developed as a liquid formulation for transdermal application. A double blind placebo controlled study conducted in France in the late 1980s in a total of 220 patients demonstrated that Alphanon was effective in the treatment of hemorrhoids and hemorrhoidal bleeding.
 Based upon the results of the 220 patient study, a new transdermal patch formulation has been developed, and an IND is expected to be filed with the FDA over the next several months. A phase 1 clinical study is scheduled for the last quarter of 1992, and phase 2-3 clinical studies could be initiated in 1993.
 Alphanon is patented in 15 countries.
 The company acquired the rights to nitazoxanide and phenantramine during the quarter ended June 30, 1992 from Jean-Francois Rossignol, its chief executive officer. In consideration for the transfer, Dr. Rossignol will receive a royalty interest equal to 7 percent of net sales of these two drugs. The royalty interest is convertible into approximately 172,000 shares of the company's common stock at the company's or Dr. Rossignol's election.
 Belmac Corporation is an emerging pharmaceutical company focusing on the development and marketing of drugs for the treatment of infectious and parasitic diseases.
 -0- 9/10/92
 /CONTACT: Marc S. Ayers, chief financial officer of Belmac Corporation, 813-286-4401/
 (BLM) CO: Belmac Corporation ST: Florida IN: MTC SU:


JB-AW -- FL014 -- 8175 09/10/92 16:08 EDT
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