Ampio forms Luoxis Diagnostics to Commercialize ORP Technology

        Ampio forms Luoxis Diagnostics to Commercialize ORP Technology

PR Newswire

GREENWOOD VILLAGE, Colo., Feb. 11, 2013

GREENWOOD VILLAGE, Colo., Feb. 11, 2013 /PRNewswire/ -- Ampio Pharmaceuticals,
Inc. (Nasdaq: AMPE), a biopharmaceutical company focused on developing drugs
to treat prevalent inflammatory diseases, such as osteoarthritis (OA) and
diabetic macular edema (DME), announced the incorporation and initiation of
operations of Luoxis Diagnostics, a subsidiary of Ampio that will initially be
funded through a private placement, with Ampio maintaining approximately 80%
ownership post financing. Josh Disbrow, Ampio's Chief Operating Officer, will
assume the role of Chief Executive Officer of Luoxis. Details about the
private placement will follow in the near future.

(Logo: http://photos.prnewswire.com/prnh/20120516/MM09116LOGO)

Ampio Chairman and Chief Executive Officer, Michael Macaluso, noted"The
Oxidation Reduction Potential (ORP) diagnostic device and its patent portfolio
has been "carved out" to become the lead asset of Luoxis Diagnostics, an
in-vitro diagnostics company focused on the development and commercialization
of diagnostics utilizing the company's ORP technology platform to indicate
disease severity and progression across a wide range of critical and chronic
illnesses. The ORP platform is a valuable asset in which the development of
the "point-of-care" reader and disposable testing strips have been completed
and multiple clinical trials with stored blood samples from patients with
various diseases are underway. Luoxis now needs its own management and
financing to launch a comprehensive effort to assure the success of its
commercial launch."

Mr. Disbrow, Luoxis's CEO, further explained the strategy "Ampio is a
pharmaceutical company mainly focused on treatments for inflammatory diseases.
Now, by carving out the diagnostics program and arming it with dedicated
management and funding we are accomplishing two main goals that will benefit
AMPIO shareholders:

  oAmpio's management and resources will be totally focused on advancing our
    lead therapeutic compounds, Ampion™ and Optina™ through pivotal clinical
    trials in the United States and securing commercialization partners
    world-wide for the Zertane™ sexual dysfunction drug portfolio.
  oA key Ampio asset, the ORP Platform, will be commercialized more rapidly
    to become a provider of world-class diagnostic testing systems while
    retaining a majority ownership of Luoxis for our existing Ampio
    shareholders."

About Luoxis Diagnostics
Luoxis Diagnostics is an in-vitro diagnostics company focused on the
development and global commercialization of a "point of care" hand held device
and disposable strips that measures, from a single drop of blood, the presence
of oxidative stress and anti-oxidant reserves in a patient. ORP is an
important measure in the detection of both critical and chronic illnesses, and
is a novel marker of patient morbidity across a wide range of diseases and
conditions. There are numerous clinical indications for this homeostatic
parameter for which there is no currently available test.

About Ampio Pharmaceuticals
Ampio Pharmaceuticals, Inc. is a biopharmaceutical company focused on the
rapid development of therapies to treat prevalent inflammatory conditions for
which there are limited treatment options. It aims to provide medicines to
improve the health and quality of life of patients with minimal side effects.
Ampio is developing compounds that decrease inflammation by 1) inhibition of
specific pro-inflammatory compounds by affecting specific pathways at the
protein expression and at the transcription level 2) activation of a specific
phosphatase or depletion of the available phosphate needed for the
inflammation process and 3) decreasing vascular permeability-an upstream event
in the inflammation cascade. For more information visit: www.ampiopharma.com

Forward-Looking Statements
Ampio's statements in this press release that are not historical fact and that
relate to future plans or events are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by use of words such as
"believe," "expect," "plan," "anticipate," and similar expressions. These
forward-looking statements include risks associated with clinical trials,
expected results, regulatory approvals, successful commercialization and
marketing of Zertane™ and the combination drug in Korea, and changes in
business conditions and similar events. The risks and uncertainties involved
include those detailed from time to time in Ampio's filings with the
Securities and Exchange Commission, including Ampio's Annual Report on Form
10-K and Quarterly Reports on Form 10-Q.

Contact: Rick Giles, Director of Investor Relations, Ampio Pharmaceuticals,
Inc. 720-437-6500

SOURCE Ampio Pharmaceuticals, Inc.

Website: http://www.ampiopharma.com
 
Press spacebar to pause and continue. Press esc to stop.