Good news out this morning. MAGN is the number 1 volume leader in pre-market trading on Island ECN:
biz.yahoo.com
Tuesday March 28, 7:21 am Eastern Time
Company Press Release
SOURCE: Magainin Pharmaceuticals Inc.
Magainin Issued Additional Patent for IL9 Asthma Gene
PLYMOUTH MEETING, Pa., March 28 /PRNewswire/ -- Magainin Pharmaceuticals Inc. (Nasdaq: MAGN - news) today announced that it was issued a new patent by the United States Trade and Patent Office (No. 6,037,149) covering the composition of matter and methods of use for Met-IL9, a mutant form of interleukin-9 discovered by Magainin scientists. Individuals who inherit only Met-IL9 appear to be less susceptible to allergy and asthma. The patent claims encompass the use of Met-IL9 to diagnose, and generate therapeutics for the treatment of, asthma and allergy.
This issuance supplements the Company's intellectual property position in the respiratory area, including the existing IL9 patents, and a patent covering the use of Magainin proprietary small molecule compounds to treat asthma.
``The issuance of the Met-IL9 patent further strengthens our intellectual property position relating to IL9,' commented Roy C. Levitt, MD, Chief Operating Officer and Executive Vice President of Magainin. ``We believe our proprietary genes to be the only truly genetically identified proprietary targets for new asthma therapies, and we are enthusiastic about our development opportunities in respiratory disease.'
Magainin Pharmaceuticals Inc. is a biopharmaceutical company with research and development efforts in anti-angiogenesis, respiratory genomics and infectious disease.
This announcement contains certain forward-looking statements that are subject to risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including, but not limited to, the risks and uncertainties discussed in this announcement and under ``Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's 1998 Annual Report to Shareholders, Item 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 1999 and Item 2 of the Company's quarterly report on Form 10-Q for the quarterly period ended September 30, 1999, each of which has been filed with the Securities and Exchange Commission. The Company disclaims any intent or obligation to update these forward-looking statements.
SOURCE: Magainin Pharmaceuticals Inc. |
