DOYLESTOWN, PA. - January 20, 2004 - The Quigley Corporation (Nasdaq: QGLY)
today provided updates on key developments in its pharmaceutical business.
First, the company announced that it has re-engaged Retroscreen Virology
Limited, under the direction of Professor John Oxford, to conduct two further
studies. The first study is intended to repeat the previously announced
results, which demonstrated QR-435 to be 100 percent effective in preventing
non-infected ferrets in close proximity to an infected ferret from becoming
infected with the influenza A virus.
The second study is a final dose ranging study on Quigley's QR-435 test
compound. Upon dosage determination and confirmation results from this
forthcoming animal model study, Quigley plans to design a human proof of
concept study using a virus challenge with Influenza A virus in a quarantine
unit.
As previously announced, in an independent, in vitro study conducted by
Retroscreen Virology, QR-435 has demonstrated significant virucidal activity
against the Urbani strain of the Severe Acute Respiratory Syndrome (SARS)
virus.
Separately, Quigley announced that the company has received a "Notice of
Allowance" from the United States Patent and Trademark Office for QR-335
covering "Composition and Method for Prevention, Reduction, and Treatment of
Radiation Dermatitis." The company's formula QR-335 is a topical treatment to
potentially prevent and relieve the effects of radiation dermatitis. A "Notice
of Allowance" is sent by the Patent and Trademark Office "if, on examination,
it appears that an applicant is entitled to a patent under the law."
Lastly, regarding Quigley Pharma's QR-333 and the company's intended filing
with the United States Food and Drug Administration for approval of future
studies for diabetic neuropathy, the company stated that it is on schedule.
Retroscreen Virology Limited is an independent research virology company
affiliated with the University of London. Professor John S. Oxford, the firm's
senior scientist, is Professor of Virology at St. Bartholomew's and The Royal
London School of Medicine and Dentistry at the University of London. Dr.
Oxford is the co-author of two standard texts on influenza and virology and has
published more than 250 scientific papers throughout the world. Retroscreen
specializes in developing anti-viral compounds and vaccines, and has worked
with many pharmaceutical companies to assist them in developing products that
now help to fight viral disease worldwide. Additional information is available
on the company's website at www.retroscreen.com.
The Quigley Corporation (Nasdaq: QGLY, http://www.Quigleyco.com) is a leading
developer and marketer of diversified health products including the Cold-Eeze®
family of patented zinc gluconate glycine (ZIGGTM) lozenges and sugar free
tablets. Cold-Eeze is the only (ZIGGTM) lozenge proven in two double-blind
studies to reduce the duration of the common cold from 7.6 to 4.4 days or by
42%. In addition to Over-The-Counter (OTC) products, the company has formed
Quigley Pharma Inc. (http://www.QuigleyPharma.com ), a wholly owned ethical
pharmaceutical subsidiary, to introduce a line of naturally-derived patented
prescription drugs. The Quigley Corporation's customers include leading
national wholesalers and distributors, as well as independent and chain food,
drug and mass merchandise stores and pharmacies. The Quigley Corporation makes
no representation that the U.S. Food and Drug Administration or any other
regulatory agency will grant an IND or take any other action to allow the
aforementioned products to be studied or marketed. Furthermore, no claim is
made that the potential medicine discussed here is safe, effective, or approved
by the Food and Drug Administration.
Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 and
involve known and unknown risk, uncertainties and other factors that may cause
the company's actual performance or achievements to be materially different
from the results, performance or achievements expressed or implied by the
forward-looking statement. Factors that impact such forward-looking statements
include, among others, changes in worldwide general economic conditions,
changes in interest rates, government regulations, and worldwide competition.
