Hatchtech Completes Treatment Phase of 2b Clinical Trial of New-Generation Head Lice Treatment Deovoâ„¢

MELBOURNE, Australia, Aug. 31, 2011 /PRNewswire-Asia/ —
Pharmaceutical company Hatchtech Pty Ltd has completed treatment of
subjects for its Phase 2b clinical study to confirm the efficacy of
its novel head lice treatment DeOvo™.

This Phase 2b trial is evaluating the efficacy, safety and
tolerability of two dose levels of a single application of
DeOvo™ compared to vehicle. The trial consists of treating
132 healthy subjects with head lice infestation, 2 years of age and
older, in two study centers in the United States.

Hatchtech’s proprietary product DeOvo™ is a topical
formulation of a known metalloprotease inhibitor which targets
proteases that are key to biological processes involved in insect
hatch and survival.

Hatchtech Chairman Dr Paul Kelly commented: “We continue to be
encouraged by Hatchtech’s progress with its next generation head
lice product DeOvo™ in line with our business objectives. The
recruitment and treatment of subjects in this study has been
achieved and we look forward to receiving results of the study
later this year as planned.”

“In the US it is estimated that 6-12 million people, mainly
children aged 3-12 years, are infested each year with head lice
(Pediculus humanus capitis). With the emergence of drug resistant
lice and often poor efficacy of existing products, this
under-served market represents a substantial commercial
opportunity.” Company Contact

Media InquiriesDr Paul Kelly

Dr Vern BowlesChairman

Chief Scientific Officer+61 (2) 8205-7379

+61 (0) 400 673 938
pkelly@one-ventures.com

vbowles@hatchtech.com.auAbout the TrialThe following
information is provided in accord with the AusBiotech/ASX Code of
Best Practice for Reporting by Life Sciences Companies.Name of
TrialHa02-003Blinding StatusDouble-blindPlacebo
ControlledRandomized, vehicle-controlledDesignP

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