Egg Farmers of Ontario investing $1 million in Canadian research into egg-derived depression solution

MISSISSAUGA, March 26, 2013 /CNW/ - Egg Farmers of Ontario (EFO) today announced an agreement to provide $1 million in research and development funding to United Paragon Associates (UPA) to fund clinical trials of an exciting new antidepressant drug derived from eggs.

"Egg Farmers of Ontario believes there are enormous potential benefits of this research into Rellidep™, an antidepressant drug, for individuals suffering from depression and for society as a whole," said EFO Chair Scott Graham. "The active ingredients of Rellidep are derived from eggs and that also means the research can stimulate, increase and improve the production and marketing of eggs in Ontario." The letter of intent for EFO funding that will partially fund phase II clinical trials was announced during EFO's 48^th annual meeting.

"Despite recent advances in treatment, there continues to be great unmet need specific to three key areas in the fight against major depressive disorder. Early phase trials with Rellidep™ have demonstrated tremendous promise, as it may offer improvements over currently available drug treatments in all three areas," said George Yeung, UPA's President of Research and Development. "Potentially better efficacy, shorter time-to-clinical-benefit and significantly fewer side effects were observed.  We are hoping to see similar results in the next phases of our research."

A better treatment could change the lives of individuals suffering from depression. It also has significant economic implications since depression is one of the leading causes of disability worldwide.

Ron Ellis, NHL hockey legend and long-time champion in the fight against mental illness is the Vice President of Public Relations at UPA.  Ellis refers to published studies when he says, "The economic cost of lost productivity in Ontario due to depression, as measured by short-term and long-term disability days, is estimated to have been $8.8 billion in Ontario in 2000," He adds, "Direct costs due to depression are estimated to have been over $2 billion in Ontario in 1998."

UPA is an Ontario-based, privately-held pharmaceutical developer of a proprietary therapeutic biologic isolate derived from fertilized hen's eggs. The isolate is named Rellidep™ and contains unique patent pending active compounds originating from the embryonic stem cell material.

It is being developed as a treatment for depression and early studies in patients indicate it may be more effective, have shorter time-to-clinical benefit and be better tolerated than currently-available antidepressants.  UPA is in the process of raising additional financing to continue the research and development of Rellidep™, with a goal that it can eventually be made available to patients in an effort to alleviate the ongoing suffering associated with depression that exists in society.

Egg Farmers of Ontario represents approximately 440 egg farmers and pullet growers in Ontario. It is an independent, self-governing organization funded entirely by egg and pullet farmers.

About United Paragon Associates Inc. (UPA),
Rellidep™ and the UPA Team

UPA

• UPA is an Ontario-based, privately-held pharmaceutical developer of a proprietary therapeutic biologic isolate derived from fertilized hen's eggs.

Rellidep™

• The isolate is named Rellidep™ and contains unique patent pending active compounds originating from the embryonic stem cell material.  It is being developed as a treatment for depression and early studies in patients indicate it may be more effective, have shorter time-to-clinical benefit and be better tolerated than currently-available antidepressants. Patients were allowed to continue therapy for up to two years, with many continuing to benefit.
  
  

• UPA is in the process of raising additional financing to continue the research and development of Rellidep™. UPA's goal is to eventually make Rellidep™ available to patients in an effort to alleviate the ongoing suffering associated with depression that exists in society.

The UPA Team

• R.S. Rajotte, CEO, Founder and Entrepreneur.
  
  

• Ron Ellis, hockey legend and long-time champion in the fight against mental illness, is a principal in UPA and the VP of Public Relations.
  
  

• Jerald Bain, Chief Medical Officer, MD, BScPhm, FRCPC, Academic Researcher, Professor Emeritus University of Toronto.
  
  

• George Yeung, PHD, President of Research and Development, and Former Pharmacia, Pfizer, Bristol-Myers Squibb Global Medical Director.
  
  

• Mark Degen, BSc, MBA, VP of Business Development, former Janssen (Johnson & Johnson) VP of New Business Development and Clinical Communications.

SOURCE: Egg Farmers of Ontario

please contact:

Bill Mitchell,
Director of Public Affairs,
Egg Farmers of Ontario 
905-858-9790 

George Yeung, MSc, PhD
President of Research and Development
United Paragon Associates Inc.
416-207-1001
[email protected]