UPDATE 1-Discovery Labs lung drug safe in mid-stage trial

* Says drug found safe and well-tolerated

* Names Thomas Amick as CEO

* Shares up 10 pct

Oct 15 (BestGrowthStock) – Discovery Laboratories Inc (DSCO.O: ) said
its experimental drug was found to be safe and well-tolerated
in a mid-stage trial with cystic fibrosis patients, sending its
shares up 10 percent.

No adverse events were reported following the treatment of
patients with aerosolized KL4 surfactant, or lucinactant, which
was delivered by an experimental nebulizer system, the company
said in a statement.

Surfactants are produced naturally in the lungs and are
essential for breathing. Discovery Labs’ KL4 surfactant
technology produces a synthetic surfactant that is structurally
similar to pulmonary surfactant.

Cystic fibrosis is a fatal genetic disease, usually
developing during early childhood, that causes lung infections,
characterized by the production of abnormally viscous mucus.

In a separate press release, the company also named Thomas
Amick as the new chief executive officer. Amick has been
serving as the company’s interim CEO since August 2009.

The Warrington, Pennsylvania-based company’s shares, which
have fallen 33 percent since it reported disappointing
mid-stage results of another lung drug in June, were up 10
percent at 23 cents in Friday morning trade.
(Reporting by Shravya Jain in Bangalore; Editing by Aradhana
Aravindan)

UPDATE 1-Discovery Labs lung drug safe in mid-stage trial