Exhibit 99.1
FOR IMMEDIATE RELEASE
HOLLIS-EDEN PHARMACEUTICALS GRANTS EXTENSION OF OFFER TO DEPARTMENT OF
HEALTH AND HUMAN SERVICES FOR ACUTE RADIATION SYNDROME CANDIDATE
SAN DIEGO, CA – September 27, 2006 – Hollis-Eden Pharmaceuticals, Inc. (NASDAQ:HEPH) announced today that it has granted a request from the Department of Health and Human Services (HHS) that the Company extend through November 30, 2006 its offer submitted under Request for Proposal (RFP) No. DHHS-ORDC-DDA-05-12 entitled “Medical Countermeasures to Mitigate or Treat Neutropenia Alone or in Combination with Co-Morbidities Associated with Acute Radiation Syndrome (ARS).” While HHS has not provided Hollis-Eden with a new estimated contract award date, based on this extension an award could be made under this RFP at any time prior to the end of November 2006. As previously announced, Hollis-Eden was informed by HHS in June that the Company “is within the competitive range for discussion and further evaluation” on a potential procurement of its lead drug candidate, NEUMUNE™ (HE2100), under this RFP. Since that time, Hollis-Eden has been in ongoing discussions with HHS with respect to this potential procurement.
About Hollis-Eden
Hollis-Eden Pharmaceuticals, Inc. is developing a proprietary new class of small molecule compounds that are metabolites or synthetic analogs of adrenal steroid hormones. These compounds, designed to restore the biological activity of cellular signaling pathways disrupted by disease and aging, have been demonstrated in humans to possess several properties with potential therapeutic benefit – they regulate innate and adaptive immunity, reduce nonproductive inflammation and stimulate cell proliferation. The Company’s lead product candidate, NEUMUNE™ (HE2100), is entering late-stage development for the treatment of Acute Radiation Syndrome (ARS), a life-threatening condition resulting from exposure to high levels of radiation following a nuclear or radiological incident, and is being explored for use in combating healthcare-associated infections. Hollis-Eden also is profiling optimized second-generation compounds for potential clinical development in a broad spectrum of therapeutic categories including hematology, metabolic disorders, autoimmune disorders, pulmonary diseases, oncology and infectious diseases. For more information on Hollis-Eden, visit the Company’s website atwww.holliseden.com.
This press release contains forward-looking statements within the meaning of the federal securities laws concerning, among other things, the potential and prospects of the Company’s drug discovery program and its drug candidates. Any statement included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause the Company’s actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Such statements are subject to certain risks and uncertainties inherent in the Company’s business, including, but not limited to: the ability to complete preclinical and clinical trials successfully and within specified timelines, if at all; the ability to obtain regulatory approval for NEUMUNE under the U.S. Food and Drug Administration Animal Efficacy Rule, even if shown to be effective in preclinical studies; the ability to receive any stockpiling orders for NEUMUNE from the U.S. federal, state and foreign governments or agencies, even if approved by regulatory authorities; the Company’s future capital needs; the Company’s ability to obtain additional funding; the ability of the Company to protect its intellectual property rights and to not infringe the intellectual property rights of others; the development of competitive products by other companies; and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise the information contained in this press release as a result of new information, future events or circumstances arising after the date of this press release.
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Contact: Dan Burgess, Chief Operating Officer and CFO
or Scott Rieger, Director, Corporate Communications
Hollis-Eden Pharmaceuticals
(858) 587-9333