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 In NY115, Dimethaid Announces Joint Venture, moved yesterday, Dimethaid Research Inc. announced today that its press release issued on June 15, 1993, announcing its joint venture with Dr. Kuehne and describing the results of Dr. Kuehne's research on the novel drug formulation known as WF-10 inadvertently stated that laboratory investigations were conducted on over 500 patients. The laboratory investigations were in fact in vitro investigations. However, more than 500 patients have been treated with WF-10 in connection with AIDS and other indications and no serious side effects have been reported. The corrected release follows:
 MARKHAM, Ontario, June 15 /PRNewswire/ -- Dimethaid Research Inc. (Dimethaid) announced today that it has agreed to form a joint venture with Dr. F.W. Kuehne, and his group of companies including Oxo Chemie AG (Oxo), a pharmaceutical company based in Switzerland. Dr. Kuehne is a West German scientist who has been working on a treatment for AIDS, among other things, through research on patients in Europe and Asia. Pursuant to this agreement Dimethaid has incorporated a new company, OxoPharm Inc. (OxoPharm) of which Dimethaid will own 60 percent and Dr. Kuehne and his companies will own 40 percent.
 OxoPharm will hold the exclusive rights for the Canadian, United States and Mexican markets to develop and market certain products developed by Oxo. One of these products, WF-10, is a novel drug formulation for the treatment of AIDS-afflicted patients. WF-10 is an immune modulator with direct and indirect anti-viral activity.
 WF-10 has been developed for intravenous administration and contains a unique oxidizing agent which stimulates the immune system to a high level of activation in the presence of hemoglobin. The major cellular defence systems of phagocytosis and killer systems (killer cells, macrophages, cytotoxic T-lymphocytes) are stimulated by WF-10 thereby exerting the indirect virucidal effect.
 Laboratory investigations have shown that WF-10 abolishes the infectivity of extracellular HIV virus particles by modifying the outer envelope glycoprotein gpl2O, thus rendering the viral particle incapable of infecting a target cell. WF-10 does not appear to influence reverse transcriptase activity or HIV replication inside cells.
 AIDS patients treated with WF-10 have demonstrated a significant reduction in symptoms such as night sweats, weight loss, fever, opportunistic infections and lethargy. In general, the quality of life of the AIDS patients was improved such that most of them could return to normal daily activities. CD4+ and CD8+ cells, two blood cellular indicators of AIDS progression, have shown small increases after treatment. More importantly, however, the CD4+ cell level remained stabilized for a considerable time after 4 cycles of treatment and has not declined to date. The marker of extracellular virus load, p24 antigen, has been reduced dramatically in several patients, thereby reducing the number of virus particles available to infect new cells.
 Although WF-10 is not in itself an anti-cancer agent, in both laboratory and clinical studies, WF-10 has demonstrated the ability to prevent and or repair the damage to normal tissue from radiation or cytotoxic treatment.
 No serious side effects have been reported in the over 500 patients who have received the treatment to date. WF-10 appears to have an excellent safety profile.
 Pursuant to the joint venture agreement Dr. Kuehne and his companies will grant OxoPharm an exclusive license for the distribution of WF-10 and a wound healing solution known as Oxoferin throughout Canada, the United States and Mexico.
 Dimethaid has agreed to provide sufficient financing and administrative support to OxoPharm to enable it to file the necessary applications with the regulatory authorities to obtain approvals for the sale of WF-10 in North America. Oxo has filed an Investigational New Drug Application (IND) in the United States and has agreed to transfer this to OxoPharm. Dimethaid has agreed to cause OxoPharm to file an IND with the Canadian Health Protection Branch no later than Dec. 31, 1993, and has agreed to provide sufficient support to OxoPharm to permit it to conduct all necessary clinical testing to file a New Drug Submission (NDS) for WF-10 in Canada and a New Drug Application (NDA) for WF-10 in the United States as soon as possible. All expenses related to the clinical testing and the granting of the necessary approvals will be borne by OxoPharm and financed by Dimethaid.
 OxoPharm has agreed to pay Dr. Kuehne and his companies a license fee for the North American distribution rights which includes, among other things, an immediate payment of U.S. $1,000,000 and 2,000,000 common shares of Dimethaid and a further cash payment conditional upon the completion of a public offering of common shares of OxoPharm within 12 months. Dimethaid has undertaken to use its best efforts to cause OxoPharm to complete a public offering of a new issue of common shares and become listed on a major stock exchange in North America within 12 months. The proceeds will be used to pay the balance of the license fee to Dr. Kuehne and his companies, to repay to Dimethaid the financing it has advanced to OxoPharm up to an agreed maximum, and to provide working capital to OxoPharm.
 If Dimethaid is unable to fulfill certain of its obligations, subject to certain specified exceptions, Dimethaid will be obliged to transfer its interest in OxoPharm to Dr. Kuehne and his companies for no consideration, but will obtain the exclusive distribution rights for WF-10 and other products in Canada. Dimethaid and Dr. Kuehne and his companies have agreed that each will have the option to acquire the other's interest in OxoPharm for fair market value if a change of control of Dimethaid or the corporation that will hold Dr. Kuehne's interest occurs. A change of control for Dimethaid will occur if anyone acquires more than 20 percent of its common shares and a change of control of Dr. Kuehne's corporation will occur if anyone acquires more than 50 percent of that corporation's common shares.
 Dimethaid has made arrangements for clinical testing of WF-10 on patients to begin at the Toronto Hospital, Toronto General Division, under the supervision of Dr. Irving E. Salit, Head of Division of Infectious Diseases and Director, HIV Clinic, upon the receipt of regulatory approval from the Canadian Health Protection Branch. Dimethaid is currently in discussions with other medical facilities across Canada to arrange additional clinical testing upon the receipt of regulatory approvals.
 -0- 6/16/93
 /CONTACT: R.E. Keeler, president of Dimethaid Research Inc., 416-415-1446/
 /PRNewswire -- June 16/

CO: Dimethaid Research Inc., Oxo Chemie AG ST: Ontario IN: MTC SU: JVN

PS -- NY046 -- 2632 06/16/93 12:58 EDT
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Publication:PR Newswire
Date:Jun 16, 1993

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