Lipid NanoSciences, Inc under contract with MRI Global, Kansas City, Kansas has worked closely with MRI’s formulation team of experts along with the company’s in-vivo study development group for the last ten months to effectively create proprietary lipid-based therapeutics to treat bacterial and viral infections in both human and veterinary health unmet medical conditions. After extensive and often exhaustive efforts to establish the prospective formulation, the collective teams feel that we have our best candidate to move forward with proof-of-concept initiatives in infectious diseases models. Preliminary study designs have been established with the MRI team and we now have a significant amount of materials for going forward studies. However, and unfortunately, we recently received notice that while we can continue to work with MRI on formulation and future clinical development studies, as a corporation they have decided to cease all POC and preclinical studies as they complete the work they have previously undertaken. While this is not something that either side expected, this happens, and we are working together to find another preclinical study contract relationship that will enable advance effectively as planned. LNS has been speaking with two other groups already and plans to speak with another large group that has since employed several of the staff from the MRI preclinical group.
LNS will continue to share progress as we move along and through the exciting and often arduous efforts of drug discovery, development and commercialization. We appreciate the continued support and interest of our partners and relationships now and tomorrow.
