Rick's Yahoo link seems broken, so I'll paste this directly. PHGN has always amazed me - it has a higher market cap than PCYC although it has essentially nothing in the clinic. Their claim that other radiation sensitizers just "weaken the cells" is manifestly incorrect - Gd-Tex directly interacts with and potentiates the radiation.
Pre-clinical Studies to Determine Effectiveness in Destroying Tumor Cells;
Patent Application Filed
KNOXVILLE, Tenn., April 13 /PRNewswire/ -- Photogen Technologies, Inc.
(BB: PHGN) has discovered that a chemical compound already
widely used for a variety of purposes has the ability to bind tightly to tumor
tissue, provide sufficient contrast to clearly show tumor margins during a CAT
scan, and maintain visibility in a tumor for several days. Dr. Gerald Wolf,
Director of the Center for Imaging and Pharmaceutical Research at
Massachusetts General Hospital, assisted Photogen in this research.
Due to these unique advantages, Photogen conceived of using this compound
as a radiosensitizer -- a photoactive drug with the potential to effectively
interact with x-ray energy to destroy abnormal cells. Photogen believes that
other compounds, which have been evaluated as radiosensitizers, merely weaken
the cell but do not react with x-rays in the unique way that Photogen has
demonstrated.
"This is an exciting discovery for Photogen that could add an important
new dimension to our capability in photodynamic therapy (PDT), and could
result in new products for our growing development pipeline," said John
Smolik, president and chief executive officer. "We are expanding our
understanding of photochemistry by broadening our definition of PDT. In this
instance, we will study the interaction of a specific compound with very
high-energy photons contained in x-rays. While this compound may be activated
by Photogen's proprietary multi-photon activation methods, it appears that it
may also interact with x-rays in a manner that could achieve a beneficial
therapeutic result using substantially less radiation."
This could give Photogen a dual photodynamic approach to deep tissue
therapy. Photogen hopes to begin a pre-clinical study in the next few weeks,
which is expected to show that radiation together with a direct injection of
this compound will effectively destroy diseased cells. The company has filed
an application for patent protection on its discovery with the U.S. Patent and
Trademark Office.
Photogen's discovery of this alternative application for the compound
under examination may lead the company to conceive new imaging procedures that
could be used by surgeons to clearly define tumor margins both before and
after treatment. This would help minimize the amount of tissue removed and
improve physicians' ability to destroy tumor cells.
Photogen Technologies, Inc. is a development-stage company focused on
creating photodynamic-related health-care products based on its proprietary
multi-photon excitation and other related technologies. The company has
discovered new methods for using laser-generated light to activate photoactive
agents within deep tissue sufficient to produce a range of beneficial
therapeutic and diagnostic outcomes. These technologies involve methods,
materials and devices that may be used to produce light and photoactive agents
that will destroy diseased cells, remove tissue or identify and diagnose
disease. The company has no products or operating revenues at this time.
Statements in this release that are not strictly historical are
"forward-looking" statements that are made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks, which may cause
the company's actual results in the future to differ materially from expected
results. These risks and uncertainties include: the ability of the company
to develop a product and obtain regulatory approval for its use; the ability
of the company to successfully market and sell any products and equipment; the
company's ability to manufacture products in sufficient quantities; the
company's ability to maintain intellectual property protection for its
proprietary products, to defend its existing intellectual property rights from
challenges by third parties, and to avoid infringing intellectual property
rights of third parties; unforeseen operating risks; the company's ability to
secure collaborative agreements with third parties for various research,
development, manufacturing, marketing and other functions; competition; risks
associated with the dependence on manufacturers of the company's proposed
products; the availability of capital to finance planned activities; and the
extent to which the clinicians performing the procedures are able to obtain
third-party reimbursement. These risks are qualified in their entirely by
cautionary language and risk factors set forth in the company's filings with
the Securities and Exchange Commission.
SOURCE Photogen Technologies, Inc.
-0- 04/13/99
/NOTE TO EDITORS: To receive Photogen Technologies, Inc.'s latest news
release and other corporate documents, free of charge via fax, simply dial
1-800-PRO-INFO. Use company ticker PHGN/
/CONTACT: John Smolik, President & CEO of Photogen, 423-769-4012; or
General Info., Leslie Hunziker, Analyst Inquiries, Caroline Price, or Media
Info., Darcy Bretz, of The Financial Relations Board, 312-266-7800/
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