FOR FURTHER INFORMATION PLEASE CONTACT:
Isotechnika Inc.
Dr. Robert T. Foster
Chairman and Chief Executive Officer
(403) 487-1600
(888) 487-9944 (FAX)
or
Isotechnika Inc.
Dr. Randall W. Yatscoff
President
(403) 487-1600
(888) 487-9944 (FAX)
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: ISOTECHNIKA INC.
NOVEMBER 25, 1998
RE: Isotechnika Receives Funding from UMDI
EDMONTON, ALBERTA--Isotechnika Inc. today announced that
University Medical Discoveries Inc. (UMDI) has made an initial
equity investment of $252,000 in the company. UMDI is an investee
company of Canadian Medical Discoveries Fund Inc. (CMDF), a
labor-sponsored venture capital fund managed by MDS Capital Corp.
"Isotechnika has developed a novel, patent-pending process of
atomic substitution that it is applying to create new,
more-effective drugs based on currently available treatment
modalities for such applications as prevention of organ transplant
rejection," said Dr. Randall Yatscoff, President of Isotechnika.
"In particular, Isotechnika has created a new drug based on
Cyclosporine which offers up to a 40-fold increase in potency with
reduced toxicity. The funds from UMDI will assist Isotechnika in
proceeding with further testing in Edmonton toward bringing this
drug to the market," said Dr. Yatscoff, an international expert in
the field of Cyclosporine research.
"We are pleased to have gained the investment support of UMDI,
given its stringent selection criteria," he continued. "UMDI's
investments are based on its evaluation of the credibility and
efforts of the principal investigators, the uniqueness of the
discovery, the patentability of the discovery, and the commercial
potential."
Isotechnika Inc., of Edmonton, Alberta, is a life sciences company
that develops novel diagnostic products and therapeutic drugs.
The company's lead therapeutic products involve a patent-pending
process of atomic substitution to create new drugs to prevent
transplant rejection, such as Cyclosporine, and new compounds to
treat hypertension. A key advantage of this approach is reduced
R&D time. The company's R&D of new therapeutic drugs is supported
in part by an established revenue stream resulting from licensing
and strategic alliances for the development and sales of a number
of diagnostic products and services.
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