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Newport Pharmaceuticals Ltd. Announces Update on Co-Development Program For Isoprinosine For Chronic Fatigue Syndrome

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www.ProHealth.com • October 31, 2005


Source: Bioaccelerate, Inc. Newport Pharmaceuticals Ltd. Announces Update on Co-Development Program For Isoprinosine DUBLIN, Ireland, Oct. 31, 2005 (PRIMEZONE) -- Newport Pharmaceuticals Ltd (NPL), a privately owned company focusing on immunological disorders, commented today on its phase II clinical development program for lead product Isoprinosine(r) (Inosine Acetoben Dimepranol) (IAD) for the treatment of chronic fatigue syndrome (CFS) in the United States. "The unmet therapeutic need in CFS is well recognised," said James O'Daly, Managing Director of Newport. "According to the American Chronic Fatigue and Immune Dysfunction Society (CFIDS), there may be 800,000 people in the U.S. suffering from the illness. One of the key competitive advantages at this stage of the development of Isoprinosine is the proven safety record in licensed indications in many countries. Secondly, there is an increasing level of awareness of Isoprinosine as a potential treatment for CFS within the medical and patient communities. This level of awareness is particularly high amongst U.S. CFS doctors." Newport's co-development partner, Amilar Pharmaceuticals, is a speciality pharmaceutical company with development stage compounds in women's health. Amilar is a wholly owned subsidiary of Bioaccelerate Holdings Inc. (OTCBB:BACL). "We believe Isoprinosine has significant commercial potential in the treatment of chronic fatigue syndrome, and we are excited to be working with Newport Pharmaceuticals to advance this program through late-stage clinical development and commercialization," stated Christopher O'Toole, Head of Specialty Pharmaceuticals for Bioaccelerate. Newport has been pursuing a program for the development of Isoprinosine(r) as a treatment for CFS since 1999. The company conducted its first Phase II trial in Canada and the results are summarised in Diaz-Mitoma, F et al. 'Clinical improvement in chronic fatigue syndrome is associated with enhanced natural killer cell-mediated cytotoxicity: the results of a pilot study with Isoprinosine(r)' JCFS 2003. About Newport Pharmaceuticals Ltd. Newport Pharmaceuticals Ltd was established in 1996 to focus on the pharmaceutical interests of the Newport holding company, following the acquisition of Newport Synthesis from the American parent Systemed Inc, in March 1995. Newport continues to grow as a profitable pharmaceutical company focussed on products for the treatment of infectious diseases, immunological diseases and related conditions. IAD (Isoprinosine/Imunovir) is a synthetic purine derivative. It is an immunopharmacologic agent with both immunomodulatory and antiviral properties. IAD has been licensed since 1971 for the treatment of cell mediated immune deficiencies associated with various viral infections. It has been on the market for over 30 years and is currently registered in 43 countries world wide for a variety of indications. About Bioaccelerate Bioaccelerate Holdings Inc. (OTCBB:BACL) is a pharmaceutical development organization ("PDO") that seeks to acquire, develop and commercialize novel pharmaceutical compounds in an efficient, cost-effective way. Bioaccelerate uses its broad network of academic, industry and capital market relationships to expedite drug development and raise capital to create and fund its subsidiary companies, which are organized by vertical portfolios in five therapeutic areas: oncology, specialty pharmaceuticals, central nervous system disorders (CNS), cardiovascular disease and anti-infectives. Bioaccelerate conducts its business directly and through its subsidiaries. The company holds majority equity interests in 10 biopharmaceutical companies, three of which are public, and holds minority interests in four biopharmaceutical companies, two of which are public. The company also holds a minority equity interest in a public nanotechnology company. Bioaccelerate's strategy relies on its development network for research, clinical development and project management to guide early-stage compounds from the discovery process through to Phase II/III development where incremental value can be created. Bioaccelerate Holdings is listed on the Over-The-Counter Bulletin Board under the symbol "BACL." For more information on Bioaccelerate, visit the company's website at http://www.bioaccelerate.com. Bioaccelerate Safe Harbor Statement Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with pre-clinical and clinical developments in the biopharmaceutical industry in general and in Bioaccelerate's compounds under development in particular; the potential failure of Bioaccelerate's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Bioaccelerate's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Bioaccelerate's business, structure or projections; the development of competing products; uncertainties related to Bioaccelerate's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under Bioaccelerate's prior name Mobile Design Concepts, Inc. Bioaccelerate disclaims any obligation to update these forward-looking statements. CONTACT:
Bioaccelerate Holdings Inc.
Christopher O'Toole
(212) 332-4387
Chris.otoole@bioaccelerate.com
www.bioaccelerate.com Newport Pharmaceuticals Ltd
James O'Daly
+353 (1) 8903011
jod@newport-pharma.com
www.newport-pharma.com



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