Phagetech announces name change to Targanta Therapeutics
President and CEO
MONTREAL, QU�BEC (January 27, 2005): PhageTech Inc., a private biopharmaceutical company developing new classes of antibiotics, today announced that the company has formally changed its name to Targanta Therapeutics Inc.
�The name PhageTech too often evoked the business of treating patients with intact phages. This created confusion,� said Dr. Pierre Etienne, President and Chief Executive Officer. �Targanta better represents the company�s business � the discovery and development of targeted antibacterial drugs, including new synthetic antibacterial classes that mimic the weaponry of phages against disease-causing bacteria.�
Targanta is a private, venture-backed biopharmaceutical company focused on the discovery and development of new classes of antibiotic drugs for novel antibacterial targets, based on its world-leading efforts in phage genomics. By unraveling the genetic code of phages, or bacterial viruses, Targanta has identified antimicrobial proteins used by the phages to kill or stop the growth of bacteria, as well as the specific bacterial targets with which those proteins interact. The company then screens these bacterial targets to identify novel small molecule drugs that mimic the phage proteins� growth inhibitory effects. Since its establishment, Targanta has translated this discovery approach into lead series of early drug development candidates that have demonstrated antibacterial activity in preclinical models. The company is also developing a novel antibacterial prodrug for the treatment and prevention of bone infections (osteomyelitis). Targanta is headquartered in Montreal, Quebec.
For more information on Targanta, please contact Pierre Etienne, M.D., President and CEO at (514) 332-1008.