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Press release from Business Wire

AvidBiotics and DuPont to Collaborate on Food Safety Applications

<p class='bwalignc'> <i><b>Partnership to Develop and Commercialize AvidBiotics' Purocin™ Protein Antibacterial Technology</b></i> </p>

Wednesday, September 19, 2012

AvidBiotics and DuPont to Collaborate on Food Safety Applications10:00 EDT Wednesday, September 19, 2012 SOUTH SAN FRANCISCO, Calif. (Business Wire) -- AvidBiotics Corp. and DuPont Nutrition & Health (NYSE: DD) today announced a collaboration aimed at significantly improving food safety. The agreement, which includes a DuPont Ventures equity investment, gives DuPont worldwide, exclusive rights to AvidBiotics' antibacterial protein technology in the broad realm of food and food protection. AvidBiotics retains all rights to applications of its technology in the fields of animal health, human therapeutics, human prophylactics and human diagnostics. “As a global leader in the field of food science and safety, DuPont is an ideal partner to help us realize the full potential of our Purocin™ antibacterial protein technology for food-related applications,” said James L. Knighton, President of AvidBiotics, Inc. “This collaboration provides us with the needed resources to advance our efforts against the most important food-borne pathogens, the seriousness of which as a health threat is only compounded by the increasing resistance of many of these organisms to antibiotics. Along with DuPont, we will continue to advance our most immediate product opportunity in food protection against E. coli 0157:H7. “This collaboration with DuPont is also a big step towards AvidBiotics' goal of developing and deploying narrow spectrum antibacterial agents not just for food protection, but also for the selective manipulation of human gut bacteria, for which traditional antibiotics are inappropriate or ineffective,” Mr. Knighton added. “Ensuring the availability of enough healthy, nutritious food for the world's ever-growing population is a critical challenge,” said Doug Willrett, bioprotection leader for DuPont Nutrition & Health. “In line with the Food Security Goals recently announced by DuPont, we're very pleased to collaborate on new technologies such as these that will help improve the safety and quality of the global food supply.” About AvidBiotics Purocin™ Protein Antibacterial Technology AvidBiotics' Purocin™ antibacterial proteins are derived from R-type bacteriocins produced by some Pseudomonas aeruginosa strains for their own defense against other bacteria. These proteins specifically kill targeted bacteria by binding to the bacterial cell and punching a hole in the cell envelope, causing membrane depolarization and prompt cell death. AvidBiotics has demonstrated that these proteins can be engineered not only against specific bacterial species but even within a species against specific strains, such as E. coli 0157:H7. AvidBiotics' proprietary technology thus serves as a platform for the production of numerous highly specific antibacterial agents. Research has moreover shown AvidBiotics proteins to be non-toxic, biodegradable, and highly potent against targeted antibiotic-resistant bacteria in vitro and in vivo. About DuPont DuPont Nutrition & Health addresses the world's challenges in food by offering a wide range of sustainable, bio-based ingredients and advanced microbial diagnostic solutions to provide safer, healthier and more nutritious food. Through close collaboration with customers, DuPont combines knowledge and experience with a passion for innovation to deliver unparalleled customer value to the marketplace DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com. About AvidBiotics AvidBiotics is a developer of novel, non-antibody proteins targeting bacteria, virus infected cells and cancers. AvidBiotics has two proprietary product platforms. The first is this new class of tailorable, targeted bactericidal agents for use in the treatment or prevention of specific bacterial infections or contaminations. The second specifically flags virus-infected or cancerous cells for enhanced destruction by the Natural Killer and T-cells of the potent innate immunity system. AvidBiotics focuses on human therapeutic applications of its technologies, both on its own and in partnership with governmental agencies and research institutions, while taking advantage of further near-term collaborative opportunities offered by specific applications of its products and technology platforms in areas such as food safety, biodefense and animal husbandry. For more information on AvidBiotics, please visit the company's web site at http://www.avidbiotics.com. AvidBioticsJames L. Knighton, President, 650-873-1141orFor Media:Kureczka/Martin AssociatesJoan E. Kureczka, 415-821-2413Joan@kureczka-martin.com