October 18, 2011 - Nile Therapeutics Completes Dosing of Clinical Trial Evaluating the Subcutaneous Infusion of Cenderitide in Chronic Heart Failure Patients » Read

October 18, 2011 Nile Therapeutics Completes Dosing of Clinical Trial Evaluating the Subcutaneous Infusion of Cenderitide in Chronic Heart Failure Patients SAN MATEO, CA, October 18, 2011 -- Nile Therapeutics, Inc. (OTCQB: NLTX), a biopharmaceutical company that develops novel therapeutics for heart failure patients, today announced that it has completed patient dosing of an open-label Phase I clinical trial evaluating pharmacokinetics (PK), pharmacodynamics (PD), safety and tolerability of subcutaneous bolus and subcutaneous infusion of cenderitide in patients with chronic heart failure. The trial was conducted pursuant to Nile's previously announced collaboration with Medtronic and was an important step towards developing cenderitide as a 90-day outpatient treatment for heart failure patients following admission for acutely decompensated heart failure (ADHF), referred to as the "post-acute" treatment period. This program was granted Fast Track status by the United States Food and Drug Administration. The Phase I clinical trial was a placebo-controlled study evaluating PK and PD of cenderitide when administered to chronic heart failure patients as a subcutaneous bolus injection or as a subcutaneous infusion. The trial was designed to understand the doses required to achieve pre-determined plasma levels of cenderitide when delivered through a subcutaneous infusion pump. In Part A of the trial, 12 patients received two subcutaneous bolus injections of cenderitide. In Part B of the trial, 34 patients received a 24-hour continuous infusion of either of two fixed doses of cenderitide or placebo, delivered through Medtronic's subcutaneous pump technology. In September, Nile added a Part C to the trial, with an objective to confirm an observed relationship between a patient's weight and cenderitide's pharmacokinetics. In Part C, 12 patients received a 24-hour continuous infusion of either a weight-based dose of cenderitide, or placebo, delivered through Medtronic's subcutaneous pump technology. "We achieved our objectives for this trial, which was to determine dosing levels for the next trial," said Hsiao Lieu, MD, Vice President of Clinical Research at Nile. "We believe we understand cenderitide's pharmacokinetics and pharmacodynamics when administered through continuous subcutaneous infusion, and look forward to moving into the next phase of development." "We are very encouraged by the data we have seen to date," said Joshua Kazam, Chief Executive Officer of Nile. "We are currently actively engaged in discussions with potential strategic and financial partners to ensure that we determine the best way to move forward with this exciting program in the best interests of our shareholders." About Heart Failure Heart failure is the fastest-growing clinical cardiac disease in the U.S. according to the American Heart Association, affecting over 5 million Americans. Over 1 million patients in the U.S. each year are hospitalized with ADHF, an acute exacerbation of heart failure. ADHF is the is the most frequent cause of hospital admission in the U.S. for patients older than 65 years, generating annual inpatient costs of more than $35 billion. Within 90 days following admission for ADHF, approximately 40% of patients return to the hospital. Nile believes that a decrease in the ADHF re-hospitalization rate, which is the clinical target of the cenderitide development program, could both improve the quality of life for patients and decrease the annual inpatient cost of heart failure. About Nile Therapeutics Nile Therapeutics, Inc. is a biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical needs. Nile is initially focusing its efforts on developing its lead compound, cenderitide, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure, and CU-NP, a novel rationally designed natriuretic peptide. More information on Nile can be found at http://www.nilethera.com. Contact: Daron Evans Chief Financial Officer Nile Therapeutics, Inc. [phone] [e-mail] Safe Harbor Paragraph for Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Nile's plans to develop cenderitide in the post-acute setting, the anticipated benefits of cenderitide for patients in the post-acute setting, Nile's understanding of the preliminary data from the Phase I study, Nile's plans for further development of cenderitide and its ability to fund such development, Nile's ability to obtain FDA approval of cenderitide in the post-acute setting and Nile's beliefs about the potential impact of a decrease of the ADHF re-hospitalization rate on the quality of life for patients, are forward-looking statements. Forward-looking statements also include statements regarding the timing, progress and anticipated results of the clinical development, regulatory processes, clinical trial timelines, expected patient enrollment, anticipated benefits of cenderitide, Nile's strategy, future operations, outlook, milestones, the timing and success of Nile's product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. Nile may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on Nile's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Nile makes. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that Nile makes include Nile's need to obtain additional capital to fund its product development programs to completion, Nile's reliance on third-party researchers to develop its product candidates, the final results of the Phase I trial of cenderitide may not support Nile's preliminary findings, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in greater detail in the reports Nile files with Securities and Exchange Commission, including those described under the caption "Risk Factors" in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission on March 14, 2011. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.