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igtpharma.com
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NEW PATENTS FOR NEUROLOGY DRUGS FILED
Management reports that IGT's patent agents, MBM of Ottawa, have filed a patent application for a broad technology platform of neurological therapeutics.
The new technologies, which encompass 9 specific chemical families of chiral amino acids or embedded amino acids were developed by Dr. Ken Curry, IGT's Vice-President of Research & Development.
The focus of the patent is on the activity of the specific molecules on the metabotropic glutamate receptors (mGluRs) of the brain. These receptors have recently become prominent in neurological research and are believed to be responsible for neural processes relating to minimizing damage from stroke, head injury and epilepsy. Other areas include the enhancement of learning and memory as well as the control of movement disorders such as Parkinson's disease, Huntington's disease and ALS. The mGluR receptors are also implicated in the control of anxiety and drug dependence.
It is IGT's intention to embark immediately on a drug development program in collaboration with a selection of Universities and pharmaceutical companies. These alliances will introduce vital new information regarding the treatment of brain disorders for which, at this time, very few effective therapies are available.
IGT Pharma Inc. is a Vancouver based bio-pharmaceutical company focused on the evolution of medicinal chemistry to provide new drug therapies to the major oncology and neurology markets. Its subsidiary, Precision Biochemicals Inc., is an established supplier of custom chemicals and contract manufacturing to the North American chemical and pharmaceutical markets.
The Company also wishes to report that the share exchange transaction announced on April 29, 1998 where IGT Pharma acquired all of the outstanding shares of Precision Biochemicals Inc. has been completed.
On behalf of the board of directors of IGT Pharma Inc.
per: Bruce Schmidt, President
311-2386 East Mall, University of British Columbia
Vancouver, B.C. Canada V6T 1Z3
Trading Symbol: IGT Web Site: igtpharma.com
Monday, June 15, 1998 Contact: Bruce Schmidt at 604-822-3503 or 1-800-743-7444
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy of this News Release. |
