David, this is a news release dated Jan.13th. Not sure if you have seen it yet.
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IGGI International, Inc. To Begin Clinical Trials on Lead Carbohydrate
Compound To Prevent Metastasis
GBC-590 Will Be Tested on Patients with Various Forms of Cancer
CAMBRIDGE, Mass.. Jan. 13 /PRNewswire/ -- IGG International, Inc.
(Nasdaq OTC BULLETIN BOARD: IGGI) announced today that its lead
therapeutic compound, GBC-590, has been cleared by the Food and Drug
Administration (FDA)to begin human testing in patients with cancer at
the M.D. Anderson Medical Center in Texas and The Graduate Hospital in
Philadelphia. GBC-590 is a novel carbohydrate-based compound that is
believed to disrupt the cellular recognition processes identified in
cancer and metastasis.
"Carbohydrate science is the new frontier for innovative human
therapeutics." stated David Platt, Ph.D., Chief Executive Officer of IGG
International. "With this announcement, IGG International clearly
emerges as one of the pioneers in this new frontier. The research and
preclinical testing of GBC-590 suggests that when intravenously
administered, it can prevent cancer cells from metastasizing
(spreading)."
One of GBC-590's biological activities is based on its ability to bind
with unique lectins (proteins which have a high affinity for
carbohydrates) on the surface of cancer cells. The compound appears to
work as an anti-adhesive by blocking the binding site of cancer cells
(the lectins) and preventing individual cancer celIs from metastasizing.
IGG International, Inc. is a biotechnology company focused on developing
complex carbohydrate compounds, derived from naturally occurring
substances, for pharmaceutical and agricultural applications. IGGI has
two wholly-owned operating subsidiaries: International Gene Group. Inc.
and Agricultural Glycosystems, Inc. Further information is available on
IGG's web site:
www.iggint.com.
Any statements contained in this release that relate to future plans,
events or performance are forward-looking statements that involve risks
and uncertainties, including, but not limited to, risks of product
nonapproval or delays by the FDA, clinical trial results, product
development and market acceptance risks, the results of current and
future licensing and other collaborative relationships, the results of
financing efforts, developments regarding intellectual property rights
and litigation. and other risks identified in the Company's Securities
and Exchange Commission filings. Actual results, events or performance
may differ materially. Readers are cautioned not to place undo reliance
on these forward-looking statements, which speak only as the date
hereof. The Company undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements that may be
made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
CONTACT: Richard Salter, V.P., Corporate Development of IGG
International, Inc., 617-621-3133, or Doug MacDougall of Feinstein
Partners Inc., 617-577-8110
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My source, Stockline, believes this compound will put IGGI on the map and attract retail and institutional investors. They look for the share price to advance and trade between US$5 and US$6 in the near term but they have much higher expectations over the next three to six months.
Stockline suggests an accumulation of the stock for exceptional gains if the compound is proved effective and safe.
IGGI has certainly moved up nicely this week. Closed today @$4 1/8.
Happy Investing!
Kevin |
