[news 2005 - 2006]

PARTEQ spinoff AtheroChem wins KTC Award of Excellence

Jan. 31, 2005

KINGSTON, ON – AtheroChem Inc., a spinoff company of Queen’s University’s PARTEQ Innovations, was honoured for its contribution to Kingston’s technology sector at the fifth annual Kingston Technology Awards of Excellence gala, held Saturday, Jan. 29.

AtheroChem received the Emerging Technology Award, given in recognition of a product, service, or process with the greatest potential for benefit. Founded last year by PARTEQ Innovations, AtheroChem is based on the amyloid research of Dr. Robert Kisilevsky, whose previous discoveries in this field led to the formation of Neurochem Inc., a leading Canadian biotechnology company.

AtheroChem has begun preclinical studies of a novel therapeutic that shows potential as a treatment for coronary heart disease caused by atherosclerosis, an accumulation of fatty deposits within artery walls.

“We are excited by AtheroChem’s cholesterol control technology, which shows strong potential as a breakthrough treatment for atherosclerosis, one of the foremost contributors to coronary heart disease,” says John Molloy, President and CEO of PARTEQ. “It is rewarding to see that this potential is recognized by others.”

AtheroChem was selected by a panel of judges from the venture capital and technology sectors in Ottawa, Toronto and Guelph. This year’s KTC award was the sixth for PARTEQ and its spinoff companies since the Awards of Excellence program began in 2001.

“Kingston is one of the few communities of its size in Canada to recognize its technology sector in this way,” Mr. Molloy says. “These awards offer the area’s technology-based enterprises a rare opportunity to come together and celebrate their contributions to the Kingston community.”